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GLOBAL RECESSION AND INDUSTRIAL EMPLOYMENT IN INDIA

机译：印度的全球经济衰退与工业就业

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The world is experiencing an unprecedented economic slowdown. There seems to be no end to the US financial crisis. It deflationary effects are not spreading to other economy. Though it is true that we are in a global recession, the media hype is so high that there is panic virtually everywhere. There is a clear lack of understanding of the word "recession". Economic describe recession as reduction of country's GDP (Gross Domestic Production) for two consecutive quarters i.e. an increase in unemployment (1.5% in a period of 12 months).rnHow long will this recession last, is the question every one asks. The IMF (International Monitoring Fund) Chief Economist says that "the worst is yet to come". India is one of the country relatively less effected by global economic crisis, but millions of families affected. However the agri sector is very less affected. Today, various countries central banks are adopting preventive measures to stop the recession and rebuild the economy.rnThe National Bureau of economic research in USA defines a recession more broadly as a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP growth, real personal, income employment, industrial production and whole sale retail sales. Some economists suggest that a recession occurs when the natural growth rate in GDP is less than the average of 2%. A recession may be defined as a contraction phase of the business cycle or a period of reduced economic activity.
机译：世界正经历着前所未有的经济放缓。美国金融危机似乎没有尽头。通货紧缩的影响并没有蔓延到其他经济体。尽管我们确实处于全球衰退之中，但媒体的炒作是如此之高，以至于几乎到处都有恐慌。显然缺乏对“衰退”一词的理解。经济学将衰退描述为该国连续两个季度GDP下降（即国内生产总值增长）（失业率增加（在12个月内为1.5％））。这种衰退能持续多久？国际货币基金组织（IMF）首席经济学家表示，“最糟糕的时刻尚未到来”。印度是受全球经济危机影响相对较小的国家之一，但数百万家庭受到影响。但是，农业部门受到的影响较小。如今，各个国家的中央银行都在采取预防措施来阻止衰退并重建经济。美国国家经济研究局将衰退定义为更广泛的范围，因为经济活动在整个经济中的显着下降持续了几个月以上通常在实际GDP增长，实际个人，收入就业，工业生产和整体零售中可见。一些经济学家认为，当GDP的自然增长率低于2％的平均值时，就会出现衰退。经济衰退可以定义为经济周期的收缩阶段或经济活动减少的时期。

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