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The scarcity of research for studies of business cycles in India along with data limitations might be some of the reasons why policymakers in India are not too concerned about this issue.Business cycles are the short-run fluctuations in aggregate economic activity around its long-run growth path.In addition, with real time data also the decline disappeared (see Giannone et al., 2012).As I said above, the algorithm also identifies a peak in 2011q3.The algorithm did not date an early millennium recession in Europe.The reason is that in 2001q1 there was a major decline but the economy recovered after one quarter.
This is important in a country like India where GDP numbers are contentious and political parties try to score points on these numbers.
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Read more And this isn't about changing your language, your vocabulary, or your proficiency with words.
It is more about changing the outlook, and the messages delivered thereof.
Also, the BCDCs are created by independent non-profit organizations.