Recession - USA and Indiya Istyle

Yesterday I read that, US people have started feeling pinch of the deep recession. The unemployment allowance which was extended to 99 weeks is now in the last week. A story of a carpenter who used to work for 80 hours a week earlier. The work reduced to 20 hours and now almost has dried up.

He and his wife are unable to explain to their 9 years old daughter, what really has gone wrong. Why there will be no gifts in this Christmas. Why they will have to shift to a small rented accommodation. While the debate is on in the US, whether the allowance should be extended, some think there is no end of recession on sight, till when can it be extended.

In contrast, India's per capita income is a meager 1000 USD / year. This means about 20 $ a week. If we discount for the millioners which India has many, the average will further reduce. While India is moving at 8-9% per year growth of GDP, the Giness index ( gap between rich and poor) is widening and the benefits are not transmitted to the masses. Corruption and funds leakages worsen the situation.

Basic issues like improving literacy, population reduction, political accountability need to be addressed on priority. India's recession as of now looks to be never ending.