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Recession

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Information about Recession
Business & Mgmt

Published on March 8, 2014

Author: shiikha

Source: slideshare.net

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Economic Recession
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Shikha Sota

Stock market crash Mass retrenchment Depression World Economy • The BRIC countries had been posting 7%10% grow rates for years. • Property and stock market booms Emergency loans Sub prime Inflation Economic disaster Profits down Falling Interest rates • Powered by growth in China (11%), India (9%) and Russia (8%). Bail out Pink slips • The world economy grew 5.2% in 2007 Downturn Recession Millions homeless

Depression Population (in Millions) 2007 191.6 Brazil 141.6 Russia 1,123.3 India 1,320.0 China 567.4* ASEAN *2006 available data GDP Value (in current prices,US$B) Foreign Exchange Reserves (US$B) 2007 1,314.2 1,291.0 1,171.0 3,280.1 1073.9* 2007 180.1 445.2 249.6 1531.3 368.8* Real GDP Growth 2008F 5.2 7.0 7.9 9.7 5.4 2009F 3.5 5.5 6.9 9.3 5.4 Inflation 2008F 5.7 14.0 7.9 6.4 9.4 2009F 5.1 12.0 6.7 4.3 6.9 Emergency loans Sub prime Inflation Economic disaster Profits down Sources: IMF World Economic Outlook (Oct 2008); World Bank Key Development Data & Statistics ADB Asian Development Outlook 2008 Update (September 2008); www.aseansec.org Bail out Pink slips Mass retrenchment BRIC: Emerging nations of growth BRICA Falling Interest rates Stock market crash Downturn Recession Millions homeless

Stock market crash Mass retrenchment Depression Profits down Falling Interest rates Bail out Pink slips What difference a year makes? Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Rec Stock market crash Mass retrenchment Depression ion ess • Visible in real income, employment, industrial production, and wholesale-retail sales. Emergency loans Sub prime Inflation Economic disaster Profits down Falling Interest rates • When real GDP growth is negative for two or more consecutive quarters. Bail out Pink slips • Contraction phase of business cycle Downturn Recession Millions homeless

Stock market crash Mass retrenchment Depression s es Ca u Downturn Recession Millions homeless • Insufficient transparency • Inadequate regulation • Creation of complex instruments. Emergency loans Sub prime Inflation Economic disaster Profits down Falling Interest rates Bail out Pink slips • Sub prime crises

Mass retrenchment Depression me pr i ub S • Financial term used to identify borrowers who don’t qualify for a ‘prime’ loan. • Pays higher interest rate and higher fees for a loan. Emergency loans Sub prime Inflation Economic disaster Profits down Falling Interest rates • Subprime borrower: whose credit score is below 620 Bail out Pink slips Stock market crash Downturn Recession Millions homeless

Pink slips Mass retrenchment Depression nd ro u g • US government wanted to give everyone the opportunity to own his or her own home, even those who weren’t creditworthy. Emergency loans Sub prime Inflation Economic disaster Profits down • Mandated that banks make loans to subprime borrowers through the Community Reinvestment Act (CRA). Bail out Falling Interest rates ack B Stock market crash Downturn Recession Millions homeless

Mass retrenchment Depression nd ro u g • Financial institution needed to get those loans off their books by selling them to someone else. • Fannie Mae and Freddie Mac sold them as bonds Profits down Falling Interest rates • Sold them to Fannie Mae and Freddie Mac Bail out Pink slips ack B Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Mass retrenchment Depression nd ro u g • Securitized mortgages ended up in banks and financial institutions around the world. Profits down Falling Interest rates • No one really knew how much subprime exposure they had. Bail out Pink slips ack B Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Stock market crash Mass retrenchment Depression Profits down Falling Interest rates Bail out Pink slips US economy : No end to financial turmoil Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Stock market crash Mass retrenchment Depression Low confidence level Profits down Falling Interest rates Bail out Pink slips Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Mass retrenchment Depression Consumer bail out • Consumer spending - major driver of the US economy • Consumer confidence reached all time low Emergency loans Sub prime Inflation Economic disaster Profits down Falling Interest rates • Consumers had cut borrowing & spending Bail out Pink slips Stock market crash Downturn Recession Millions homeless

Mass retrenchment Depression ent ym plo Profits down Falling Interest rates Bail out Pink slips em Un Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Stock market crash Mass retrenchment Bank Of America 35,000 3 General Motors 34,000 4 Hewlett-Packard 25000 5 Lehman Brothers 23000 6 Pink slips 73,000 2 At & T 17000 7 Express Delivery Company DHL 15000 8 Starbucks 12000 9 Chrysler 12000 10 Wells Fargo 11000 11 Dow Chemical 11000 ( Source: Business world) Emergency loans Sub prime Inflation Economic disaster Profits down Falling Interest rates Citigroup Bail out 1 Depression Downturn Recession Millions homeless

Mass retrenchment Depression ces pr i Profits down Falling Interest rates Bail out Pink slips Oil ing Ris Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Stock market crash Mass retrenchment Depression Profits down Falling Interest rates Bail out Pink slips Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Stock market crash Mass retrenchment Depression llar do ing clin De Profits down Falling Interest rates Bail out Pink slips Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Stock market crash Mass retrenchment Depression k et ar ck m ed Sto ash cr Profits down Falling Interest rates Bail out Pink slips Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Mass retrenchment Depression ion ess • Fear of recession looms over the world Profits down Falling Interest rates • Whenever the US sneezes, the world catches a cold. Bail out Pink slips Rec Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Stock market crash Mass retrenchment Depression Growth rate of major economies Downturn Recession Millions homeless 3.0 2.0 2009F 2008F 2007 2006 Euro Area Japan F – forecasts Source: World Economic Outlook, IMF, Oct 2008 Emergency loans Sub prime Inflation Economic disaster Profits down US 2005 2004 2003 2002 1.0 0.0 Falling Interest rates Bail out Pink slips 4.0

Millions homeless Stock market crash Mass retrenchment Depression Recession Profits down Falling Interest rates Bail out Pink slips 11 July, 08 The largest mortgage lender in the US - was seized by federal regulators. Downturn Global Economy Emergency loans Sub prime Inflation Economic disaster

Millions homeless Depression Recession Global Economy 14 Sep. 08 •Investment Bank Lehman brothers files for Bankruptcy protection on 15 September 2008 •Merrill Lynch & co. inc. to be taken over by Bank of America. Emergency loans Profits down 14 Sep. 08 Bail out Pink slips Mass retrenchment Downturn Falling Interest rates Stock market crash Sub prime Inflation Economic disaster

Millions homeless Stock market crash Mass retrenchment Depression Recession Pink slips 20 Sep. 08 Bail out 18 Sep, 08 Falling Interest rates Downturn Global Economy Profits down Emergency loans Sub prime Inflation Economic disaster

Millions homeless Stock market crash Mass retrenchment Depression Recession Downturn Global Economy Bail out Pink slips 21 Sep, 08 Profits down Falling Interest rates 22 Sep. 08 Emergency loans Sub prime Inflation Economic disaster

Millions homeless Stock market crash Mass retrenchment Depression Recession Downturn Global Economy 29 Sep. 08 Profits down Falling Interest rates Bail out Pink slips 25 Sep, 08 Emergency loans Sub prime Inflation Economic disaster

Millions homeless Stock market crash Mass retrenchment Depression Recession Downturn Global Economy Bail out Pink slips 1 Oct. 08 Profits down Falling Interest rates 8 Oct. 08 Emergency loans Sub prime Inflation Economic disaster

Millions homeless Depression Recession Global Economy Bail out Pink slips Mass retrenchment Downturn 10 Oct, 08 Profits down Falling Interest rates Stock market crash 13 Oct. 08 Emergency loans Sub prime Inflation Economic disaster

Stock market crash Mass retrenchment Depression Profits down Falling Interest rates Bail out Pink slips Steps take by US Government Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Mass retrenchment Depression • March 11, 2008: The Federal Reserve announces a rescue package to provide up to $200 Billion in loans to banks and investment houses. Emergency loans Sub prime Inflation Economic disaster Profits down • March 16, 2008: the Fed provides a $29 Billion loan to JP Morgan Chase & Co. as part of its purchase of investment bank Bear Stearns. Bail out Falling Interest rates US bail out plan Downturn Recession Stock market crash Pink slips Millions homeless

Pink slips Mass retrenchment Depression US bail out plan • July 30, 2008: President Bush signs a housing bill including $300 Billion in new loan authority for the government to back cheaper mortgages for troubled home-owners. Emergency loans Sub prime Inflation Economic disaster Profits down • Sept. 07, 2008: The Treasury takes over mortgage giants Fannie Mae and Freddie Mac, pledging up to $200 Billion to back their assets. Bail out Falling Interest rates Stock market crash Downturn Recession Millions homeless

Pink slips Mass retrenchment Depression US bail out plan • Sept. 16, 2008: The Fed injects $85 Billion into the falling American International Group, one of the world’s largest Insurance companies. • Sept. 16, 2008: The Fed pumps up $70 Billion more into the nation’s financial system to help ease credit stresses. Emergency loans Sub prime Inflation Economic disaster Profits down • Oct. 03, 2008: President Bush signs$700 Billion Economic Bail-out package. Bail out Falling Interest rates Stock market crash Downturn Recession Millions homeless

Pink slips Mass retrenchment Depression US bail out plan • Oct.07, 2008: The Fed says it will start buying unsecured short-term debt from companies, and says up to $1.3 trillion of the debt may qualify for the program. Bail out • Oct.08,2008: The Fed agrees to lend AIG $37.8 billion more bringing total to about $123 billion. Profits down Falling Interest rates Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Pink slips Mass retrenchment Depression US bail out plan • Oct. 14, 2008: The FDIC says it will provide up to a total of $1.4 trillion in loans between banks. • Nov.10, 2008: The Treasury and The Fed replace the two loans provided to AIG with a $150 billion aid package that includes an infusion of $40 billion from the government’s bailout fund. Bail out Profits down Falling Interest rates Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Pink slips Mass retrenchment Depression US bail out plan • Nov.23, 2008: The Treasury says it will invest $20 billion in Citigroup Inc., on top of $25 billion provided on Oct. 14. • Dec.19, 2008: President Bush signs $17.4 billion auto industry bail-out package for General motor and Chrysler LLC. Emergency loans Sub prime Inflation Economic disaster Profits down • Jan. 05, 2009: Auto industry bail-out rejected by US Senate. Bail out Falling Interest rates Stock market crash Downturn Recession Millions homeless

Pink slips Mass retrenchment Depression US bail out plan • Jan.16, 2009: The Bank of America will receive $20 billion in fresh US government aid and $118 billion worth of guarantees against bad assets. The emergency funding will help the troubled bank to absorb the losses it incurred when it bought Merrill Lynch. Emergency loans Sub prime Inflation Economic disaster Profits down • March 01, 2009: The U.S Government commits another $30 billion to AIG as the embattled insurer prepares to report the biggest loss in history and struggles to sell asset Bail out Falling Interest rates Stock market crash Downturn Recession Millions homeless

Stock market crash Mass retrenchment Depression ina Ch Downturn Recession Millions homeless • Growth likely to slow down • Indonesia, Malaysia, Taiwan, and South Korea to have same impact Emergency loans Sub prime Inflation Economic disaster Profits down Falling Interest rates Bail out Pink slips • Fewer exports to US

Pink slips Mass retrenchment Depression ica er m • Fewer exports to America • Prices of commodity fell by 20 to 30 percent Bail out Profits down Falling Interest rates in A at L Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Mass retrenchment Depression Mexico & Canada • Exports to the United States represent about a quarter of each country’s GDP Bail out Pink slips Stock market crash Downturn Recession Millions homeless Profits down Falling Interest rates • Have to bear brunt of slowdown Emergency loans Sub prime Inflation Economic disaster

Pink slips Mass retrenchment Depression ope Eur • Fewer exports to US Bail out • Lower sales & profits • Bankruptcies Emergency loans Sub prime Profits down Falling Interest rates Stock market crash Downturn Recession Millions homeless Inflation Economic disaster

Mass retrenchment Depression pan Ja • Growth mostly driven by external demand Bail out Pink slips Stock market crash Downturn Recession Millions homeless Profits down Falling Interest rates • Domestic consumption weak Emergency loans Sub prime Inflation Economic disaster

H Stock market crash Mass retrenchment Depression ng? lo ow Downturn Recession Millions homeless • Recession could last 30 months into the end of 2010. Emergency loans Sub prime Inflation Economic disaster Profits down Falling Interest rates • Output will continue to fall through the end of 2009. Bail out Pink slips • More job losses to continue.

Stock market crash Mass retrenchment Depression Profits down Falling Interest rates Effect of recession on India Bail out Pink slips Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Millions homeless Depression Recession Indicators for recession in India Fall in GDP An unhealthy stock market Falling rupee Growing Unemployment Fall in production Declining personal Income Emergency loans Sub prime Inflation Profits down • • • • • • Bail out Pink slips Mass retrenchment Downturn Falling Interest rates Stock market crash Economic disaster

Millions homeless Stock market crash Mass retrenchment Depression Falling Interest rates Bail out Pink slips Downturn Recession Declining GDP Source: World economic outlook, Oct 2008 IMF Profits down Emergency loans Sub prime Inflation Economic disaster

Stock market crash Mass retrenchment Depression Share market Profits down Falling Interest rates Bail out Pink slips Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Pink slips Mass retrenchment Depression Share market • Crashes below the psychological mark of 10K • Sensex on Oct 17, 2008 – 9,975 Bail out • Sensex Journey 10K – 21K 493 days 21K – 10K 193 days Emergency loans Sub prime Profits down Falling Interest rates Stock market crash Downturn Recession Millions homeless Inflation Economic disaster

Pink slips Mass retrenchment Depression Share market • Foreign & domestic investors have pulled out from stock market. • Stock broking houses are laying-off people. Emergency loans Sub prime Inflation Economic disaster Profits down • People have started saving money. Bail out Falling Interest rates Stock market crash Downturn Recession Millions homeless

Pink slips Mass retrenchment Depression Bad News for India • Inflation and the psychological impact of the US crisis, leading the companies to hit the panic button. Emergency loans Sub prime Inflation Economic disaster Profits down • IT and financial sectors, real estate owners, auto Industry, i-banking are confronting heavy loss due to the fall down of global economy. Bail out Falling Interest rates Stock market crash Downturn Recession Millions homeless

Stock market crash Mass retrenchment Depression Industrial sector Profits down Falling Interest rates Bail out Pink slips Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Pink slips Mass retrenchment Depression Industrial sector •Companies out of cash Bail out •Car, bike & truck sales down •Steel plants also cutting production Profits down Falling Interest rates Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Mass retrenchment Depression CI IC Profits down Falling Interest rates Industries like garment, gems, textiles, chemicals and jewellery had cut production by 10 per cent to 50 per cent. Bail out Pink slips F Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Stock market crash Mass retrenchment Depression Export Industry Profits down Falling Interest rates Bail out Pink slips Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Pink slips Mass retrenchment Depression Export Industry • Indian export industry in Oct 2008 fell by 12% as compared to Oct 2007 Bail out • Exports by value – In 2007 - $14.6 billion – In 2008 - $12.8 billion Profits down Falling Interest rates Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Pink slips Mass retrenchment Depression Export industry • Indian companies have major outsourcing deals from the US. • India's exports to the US have also grown substantially over the years. Emergency loans Sub prime Inflation Economic disaster Profits down • Indian companies with big tickets deals in the US are seeing their profit margins shrinking. Bail out Falling Interest rates Stock market crash Downturn Recession Millions homeless

Stock market crash Mass retrenchment Depression Profits down Falling Interest rates Bail out Pink slips Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Pink slips Mass retrenchment Depression Layoffs & Unemployment • Significant drop in new hiring • Companies has laid off their staffs and cut down compensations Emergency loans Sub prime Inflation Economic disaster Profits down • Companies in IT industry have stopped hiring and projected lower manpower need. Bail out Falling Interest rates Stock market crash Downturn Recession Millions homeless

Pink slips Mass retrenchment Depression Layoffs & Unemployment • Firms attached to the capital market are laying off people. • Large companies are putting their future expansion plans on hold. Source: Federation of Indian Export Organizations Emergency loans Sub prime Inflation Economic disaster Profits down • Nearly one crore persons could lose their jobs in the correct fiscal ending March. Bail out Falling Interest rates Stock market crash Downturn Recession Millions homeless

Mass retrenchment Depression Layoffs & Unemployment Profits down Falling Interest rates Following report shows anecdotal evidence of downsizing in the IT and financial and many other fields. Bail out Pink slips Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Stock market crash Mass retrenchment Depression Liquidity Crunch Profits down Falling Interest rates Bail out Pink slips Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Pink slips Mass retrenchment Depression Liquidity Crunch • Companies are reluctant in starting new ventures and starting new projects etc. • Projects are halfway to completion as companies are stuck with cash flow issues Emergency loans Sub prime Inflation Economic disaster Profits down • In real estate -building projects are and developers find it difficult to raise finances. Bail out Falling Interest rates Stock market crash Downturn Recession Millions homeless

Pink slips Mass retrenchment Depression Export Industry • Indian export industry in Oct 2008 fell by 12% as compared to Oct 2007 Bail out • Exports by value – In 2007 - $14.6 billion – In 2008 - $12.8 billion Profits down Falling Interest rates Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Stock market crash Mass retrenchment Depression Profits down Falling Interest rates Bail out Pink slips Information Technology Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Mass retrenchment Depression Information Technology • Confronting heavy losses due to the fall down of global economy. • Western companies are decreasing their IT budget and investment. Emergency loans Sub prime Inflation Economic disaster Profits down Falling Interest rates • Dependent on large western companies. Bail out Pink slips Stock market crash Downturn Recession Millions homeless

Mass retrenchment Depression Information Technology • Tech companies in US & elsewhere are laying off in thousands • Infosys last year was the worst-performing stock on the benchmark Sensex stock index. Emergency loans Sub prime Inflation Economic disaster Profits down Falling Interest rates • Indian engineers are facing wage cuts and layoffs. Bail out Pink slips Stock market crash Downturn Recession Millions homeless

Stock market crash Mass retrenchment Depression Banking sector Profits down Falling Interest rates Bail out Pink slips Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Stock market crash Mass retrenchment Depression Banking sector Downturn Recession Millions homeless • Strong fundamental base following closed banking culture. Emergency loans Sub prime Inflation Economic disaster Profits down Falling Interest rates • ICICI Bank, a bank that had invested in Lehman’s bonds has also suffered Bail out Pink slips • Tough time – liquidity crunch

Recession Millions homeless Stock market crash Mass retrenchment Depression Profits down Falling Interest rates Bail out Pink slips Downturn Corrective steps Emergency loans Sub prime Inflation Economic disaster

Recession Millions homeless Stock market crash Mass retrenchment Depression Profits down Falling Interest rates Bail out Pink slips Downturn Corrective steps Emergency loans Sub prime Inflation Economic disaster

Millions homeless Depression Recession Fiscal policy Money Money available for available for spending spending More More spending by spending by govt. to govt. to create jobs create jobs Individuals Individuals get salary get salary and spend and spend money money Automatic Automatic Fiscal Fiscal policy policy Income to Income to unemployed unemployed Emergency loans Sub prime Inflation Demand Demand picks picks up; up; Market Market can can recover recover Profits down Tax cuts for Tax cuts for business/In business/In dividuals dividuals Bail out Pink slips Mass retrenchment Downturn Falling Interest rates Stock market crash Economic disaster

Millions homeless Stock market crash Mass retrenchment Depression Downturn Recession Monetary policy Pink slips Profits down Falling Interest rates Bail out More money available for banks to give loans Emergency loans Sub prime Inflation Economic disaster

Stock market crash Mass retrenchment Depression Profits down Falling Interest rates Bail out Pink slips Measures taken by government and RBI Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Mass retrenchment Depression 1st stimulus package • Additional planned expenditure of Rs.20,000 crores for the current year. • Refinance facility of Rs. 4000 crore for the National Housing Bank. Emergency loans Sub prime Inflation Economic disaster Profits down Falling Interest rates • 4% cut in CENVAT Bail out Pink slips Stock market crash Downturn Recession Millions homeless

Mass retrenchment Depression 1st stimulus package • Refinance facility of Rs. 7000crores for SIDBI to support incremental lending to MSME’s. Bail out Pink slips Stock market crash Downturn Recession Millions homeless • Elimination of export duty on IRON ORE FINES Emergency loans Sub prime Inflation Economic disaster Profits down Falling Interest rates • Elimination of import duty on NAPTHA

Mass retrenchment Depression 1st stimulus package 1st stimulus package • Additional funds of Rs.1100crores to ensure full refund of Terminal Excise Duty/CST. Profits down Falling Interest rates • Additional allocation of Rs.350crores for export incentive schemes. Bail out Pink slips Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Pink slips Mass retrenchment Depression 1st stimulus package 1st stimulus package • Exporters will be allowed refund of service tax on foreign agent commissions up to 10%. Bail out • IIFCL has been authorized to raise Rs. 10,000crore through tax free bonds. Profits down Falling Interest rates Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Stock market crash Mass retrenchment Depression 2nd stimulus package 2nd stimulus package • Reverse Repo rate also reduced from 5 to 4% Bail out Pink slips • Repo rate reduced from 6.5% to 5.5% Downturn Recession Millions homeless • Further liberalization of policy on ECB’s Emergency loans Sub prime Inflation Economic disaster Profits down Falling Interest rates • CRR reduced from 5.5% to 5%

Pink slips Mass retrenchment Depression 2nd stimulus package 2nd stimulus package • Credit targets of public sector banks are being revised. Emergency loans Sub prime Inflation Economic disaster Profits down • EXIM Bank has obtained a Rs.5000 crore line of credit from RBI and will provide pre and post-shipment credit to Indian exporters at competitive rates. Bail out Falling Interest rates Stock market crash Downturn Recession Millions homeless

Pink slips Mass retrenchment Depression 2nd stimulus package 2nd stimulus package • Several other measures to support exports, housing, micro, small and medium enterprises (MSME’S) and the textile sectors. Bail out • FII investment in corporate bonds would be increased from $6 Billion to $15 Billion Profits down Falling Interest rates Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Pink slips Mass retrenchment Depression 3rd stimulus package 3rd stimulus package • Service tax rate reduced by 2% Bail out • Central excise rate reduced by 2% • 4% excise duty cut to be valid beyond 31st march 2009 Emergency loans Sub prime Inflation Economic disaster Profits down Falling Interest rates Stock market crash Downturn Recession Millions homeless

Mass retrenchment Depression 3rd stimulus package 3rd stimulus package • Custom duty exemption on Naphtha to be valid beyond 31st march 2009 Bail out Pink slips Stock market crash Downturn Recession Millions homeless Profits down Falling Interest rates • Excise duty on bulk cement slashed by 2% Emergency loans Sub prime Inflation Economic disaster

Pink slips Mass retrenchment Depression 4th stimulus package 4th stimulus package • Special package of Rs.325 crores for Leather and Textile sectors. • Procedure for claiming duty drawback refund and refund of terminal excise duty further simplified. Bail out Profits down Falling Interest rates Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Pink slips Mass retrenchment Depression Other measures Other measures • Public sector banks to give working capital demand loans up to 20% of the existing fund based limits. Bail out • Borrowing rate for micro industries stands reduced by 100 basis points. Profits down Falling Interest rates Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Mass retrenchment Depression Corrective Measures • RBI needs to neutralise the outflow of FII money by unwinding the market stabilisation securities . Bail out Pink slips Stock market crash • In the IT sector, there should be correction in salary offerings rather than job cutting. Sub prime Inflation Economic disaster Profits down Falling Interest rates • State governments must be aided. Emergency loans Downturn Recession Millions homeless

Pink slips Mass retrenchment Depression Corrective Measures • Indian Companies have to adopt a multi-pronged strategy like diversification of the export markets. Emergency loans Sub prime Inflation Economic disaster Profits down • Public should spend wisely and save more. Bail out Falling Interest rates Stock market crash Downturn Recession Millions homeless

Pink slips Mass retrenchment Depression Corrective Measures • Checking the limit of foreign players. • In real estate the builders should drop prices, so as to bring buyers back into the market. Bail out Profits down Falling Interest rates Stock market crash Downturn Recession Millions homeless Emergency loans Sub prime Inflation Economic disaster

Mass retrenchment Depression WOW!! • Indian economy – not in recession stage Bail out Pink slips Stock market crash • GDP growth rate down, but still expected to be 6% in India. Sub prime Inflation Economic disaster Profits down Falling Interest rates • Slow down stage Emergency loans Downturn Recession Millions homeless

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