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Recession, a blessing in disguise

Part I

In recent times recession is the buzz word used everywhere by everybody and anybody. Recession has hit hard in USA as well as in India. There is no quick solution to this problem, but gradual step by step techniques can lower the impact on the everyday life.

From India's point of view the recession impact can be reduced by:

1). Voting a stable government at the center. It will ensure that the economic reforms are carried out with long term goals. Currently any government coming to power is of short cut mentality where reforms are introduced to appease the voter for the next election without having any long term plans.

2). Tap on corruption. This is very vital aspect to country's growth. Corruption menace must be stopped. It will not only increase funds in exchequer and the government will have more money at its disposable to invest in infrastructure projects. These infrastructure projects then will trigger economy by inducing money in the market. There are lot of areas in India which are in need of roads, bridges and other infrastructure.

3). Military research is another area which can be opened to private sector for research and development. In recent times USA has globally sold its weaponry and its stimulating the economy inside USA. Making WMD is not a noble cause but military applications can find ways in civil use. For ex: Satellite, there can be a private and government partnership in building new vehicle for installing satellite in orbits. In same way other areas can explored which has dual use technology.

4). Engineering services companies and overall engineering fraternity should develop R&D centers in there respective companies which can simulate research. The backbone of any economy is the R&D capabilities. Currently private sector is lagging far behind in terms of there R&D capabilities
5). Recently engineering companies adapted a policy of paying heavy salaries to employees to ensure that the work of client is done on time. This was done without long term thinking and optimization of resources. This has resulted in large employee counts with heavy salaries and no projects which is resulting in firing of the workforce. The employer should scrutinize the requirement by taken in to consideration of long term prospects.
6). The youth of this country will have to work hard collectively to ensure that the country comes on track as soon as possible.
To be continued........................

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