Meltdown Blues

Ever bustling Ameerpet wearing a deserted lookwith few shutters down, many coaching institutes having second thoughts about their continuance in the business, right from the xerox shop to sweet seller swallowing the bitter pill of fall in demand, finally the cloud has descended on Indian soil. We fondly hoped that we may remain unaffected but things worsened and we too were dragged into the dirty game of bungling fortunes. We were the most affordable knowledge banks for all the fresh emerging software packages. Projects available for amounts as petty as thousand bucks with source code, Hyderabadis are chockingly surrounded by proliferate institutes and fluttering training certificates. Right from DOS to IBM Main Frames any thing can be learnt in these narrow lanes, with only qualifying parameter is your ability to push your vehicle into these crowded streets.

The genesis of the problem is one crappy financial document floated in the financial market to establish one's financial credibility. Some where the chain breaks with suspicions growing about the financial worthiness of the next door company who go in bizarre mortgaging, the following vestibule ( a chamber or channel opening to another) is suddenly constricted putting a grinding halt to the smooth movement of fiscal system. All of a sudden we get to see a vacuum with overwhelming sense of insecurity. There started this long fiasco of fall outs in the market. After few days crisis deepens , with far reaching repercussions showcasing true setbacks rendering difficult to break, now the world is seized with phenomenal recession probably worst in hundred years. Evidently the so called world leader can unleash a catastrophe to the world, naysayers hold doubts about it's ability to reconstruct it when required in the larger ambit. It cast the doubt on the concept of market economy itself, driving few to reinvent Carl Marks once again. The very phenomenon which bragged it's success, left every one inspired to open their economies including die hard fans of Mao, gave an occasion to many to rethink how far this unregulated economy is good to the people in the long run.

Crash downs are more evident in developed countries with resulting lay offs, credit crunch, low imports, cost cutting measures, followed by corrective rate cuts, bail outs, and stimulus packages. In developing economies the growth will be staggered with already not so impressive industrial growth all together coming down to meagre 2%, present exports further sinking to a new low, market experiencing liquidity problem, real estate coming to all time slump, job market appearing morbid. But strangely layoffs don't happen so easily, as we are capitulate with strong labour favouritism. Still firing is treated as end of the world to a person dislodged. Hire and fire is yet a new concept to the large number of corporates in India. Bail outs just do not happen. Spending still goes strong for wedding, functions, jewellers doing mega business . Our need to do certain things in certain fashion no matter what happens to the world out there, is really amazing.It is just one instance to quote that we are hardly effected by changes that take place in other parts of the globe. It is a pointer to our singularity than to our insensitivity.

As a result of global meltdown IT which brought money as well as recognition to our country has suffered a great deal.Satyam saga added to it's woes. The young IT professional whose gross annual income inevitably crosses his father's life time toil, at the moment is at the cross roads with cut down perks, trimmed down pay pockets, and doubtful increments. Many youngsters who partied with compulsive obsession now prefer to stay at home and spend time with family.New year bashes greatly reduced to peaceful prayers and meditations, women who preferred take away parcels learning to try their hands in cooking, children who go to expensive play schools confined to grand parents and nannies, brand conscious postponing their shopping spree, reputed restaurants who were inviting their guests as per the waiting lists wearing deserted looks, beauty saloons and sweet shops doing only one fourth of their previous business,the blues have truly descended on IT sectors as well to the people who cater to their needs. "Savings" a strange word, which never struck with these young professionals inclined to spend as there is no tomorrow, is hitting hard in their minds leaving them to leaf through various savings schemes offered by public sector banks.Is the trend reversed now?

The unprecedented incomes, the changed lifestyles, spending habits, consumerism have changed the demographic patterns of the people of urban middle class in India. Cost of living reaching a new heights with many neo rich emerging, the gap between the higher income groups and lower income groups widened. The fact of India becoming a bipolar world is presented to us in the most naked manner. The one half of India enthusiastic, literate, high earning, enjoying all privileges money can buy, the other half ill informed, ill fed, ill fated who languish in hopelessly tormented part of the land. The most heart rendering fact of our living is that, unfortunate portion of the population is still cursing their fate and not pointing fingers towards the privileged for their misfortunes and jealous to the least. That is the forbearance that was inherent in our cultures which prevented these millions from exploding.

Oh mother, You created these differences, still you made these people so high in their happy quotient , I bow to you for ensuring strange but lasting relationship between these dissimilar twins.