RECESSION

The International Monetary Fund (IMF) said that the world is in the face of a devastating impact due to the corona virus pandemic and has clearly entered a recession, but projected a recovery next year.




IN NEWS:

According to IMF, this It is clear that we have entered a recession that will be worse than the one in 2009, following the global financial crisis.

Stressing that while containment is the main reason for the economy to stand still and get into a recession, IMF said containment is very necessary to come out of this period and step in to recovery.

There is risk of a wave of bankruptcies and layoffs that can undermine the recovery.

Important Info:

There is no official definition of recession, but there is general recognition that a recession is a period of declining economic performance across an entire economy that lasts for several months.

This decline is visible in real GDP, real income, employment, industrial production, and wholesale-retail sales. A recession begins when the economy reaches a peak of activity and ends when the economy reaches its trough.

A depression is a deep and long-lasting recession that lasts for many years. In a depression the decline in GDP exceeds 10 percent.


Source : The Hindu

Vignan IAS Academy imparts Best IAS coaching in Bangalore for Civil Services. VIA team of mentors (teachers), with long years of experience in teaching as well as expertise in our specific subject-matter expertise. Our team has been exposed to exclusive IAS coaching’s in Bangalore, has created value for those coaching institutes.

  • Facebook
  • Twitter
  • Pinterest
  • YouTube
  • LinkedIn
google-icon-png-9.png
whatsapp.png

ABOUT VIGNAN IAS

ALL COURSES

- Why Vignan IAS?

- About Us

- How to choose Best IAS

- Coaching in Bangalore?

- Key Features

9606576465

- Intensive IAS

- CSAT-Prelims

- Mains

- Public Admins Optional

- Economics Optional

HELPFUL LINKS

- Current Affairs

- Daily News Analysis

- Books

- UPSC Syllabus

- UPSC Notifications

- Eligibility Criteria

- Study Material

- How to Prepare?

Copy rights All rights reserved by Vignan IAS Academy