Recession has spread its heat all over the world and India is also not left as an exception. Yes, it’s absolutely true that India suffers the impact of recession or we can say a ‘slowdown’ but it would be absolutely wrong to say that ‘India is facing recession’.
The global economic crisis which has its roots in US has threatened the global economic stability. India is also affected by the global recession but looking at its present financial state it would be wrong to say that it is going through its worst economic phase.
The Indian companies especially the MNC’s are suffering a drastic downturn as most of them used to deal a major section of their business with the US based companies. But other sectors seemed to be quite saved from suffering drastic consequences of recession…The Indian companies have also accepted the most popular way of employees lay off and job cuts to reduce the impact of recession on the Indian economy.
But it does not seem to be fair on the part of employees, who are even not aware about the affect of recession on these companies and are left to suffer as the victim of this downturn.
‘Slowdown’ in India does not give a call to the job cuts as a solution as Companies in India are still surviving, growing and prospering and are carefully examining their expenses such as awards, bonuses, increments and budgets. Employees lay off seems to be out of question as by the end of the day they need manpower to run the company.
As per my opinion, I feel the story of Indian recession does not hold strong grounds to look real and convincing…It seems that the Indian employers are taking undue advantage in disguise of recession. There are a many companies which have increased the working shifts and have simultaneously cut down the add-on or bonuses’, reciting stories about the negative impact of recession on their organization.
Those who pay the same salaries to their employees are exploiting the workforce as they feel they are favoring the employees by paying them high salary packages. Moreover, many employees are facing changes in their work profile which is yet another strategy of saving the promised provident amount and salaries and terminating the employees before the job contract gets matured.
Employers are playing a smart game and they forget the basic fact that employees are productive elements of the companies which should be managed properly. People who have sound knowledge about the current state of Indian economy also state that the recession issue is not as big as it is made out of to be.
This is just a way for companies to earn high and pay less in return to the employees. It helps them to make numerous profits in disguise of recession. One can proudly say that the situation in India is far better than many other developing countries of the world which are badly hit by recession..
Government has taken a number of steps to improve the situation. So, looking at the several sectors growing and prospering it can be easily concluded that India still hold enough business opportunities. My advice to those who are getting pink slips from their work places is just that believe in yourself and do not doubt your abilities….