Economic Recession & India especially Kerala

World Economy is facing problems & many are getting affected. Some lost jobs, some got pay packets reduced, some sectors closed altogether so on and so forth. Where do India stand? It is a known fact that all the IT, BPO, KPO stuff were bringing valuable foreign currency apart from work & life style to many Indians. This will get definitely affected. For states like Kerala, where wealth comes from Gulf & Europe thanks to the 'Pravasi'. With economic slow down, many are expected to return. That's an interesting situation. On one hand the money inflow gets badly affected & on the other hand, number of mouths to be fed becomes higher. For some months, the Gulf Returnee might live on the savings. However this can't be eternal. Many of the fields especially in construction, Kerala was facing acute shortage of manpower. The wages of labour (Skilled or otherwise) have skyrocketed so much that it has become very difficult for the middle class people to construct a home.
Hopefully returning migrant people might consider working again & if that happens, the bloated wages as well as construction costs can come down. This gives me good hope to construct something for myself!
As they say in management jargon, one must consider setbacks like slow down as a challenge and take it as an opportunity. In these difficult days, the onus of keeping the economy safe and sound should be the highest priority for the government. With a transition in place, hopefully Government will rise above petty political differences and rise up to the occasion. India has a very good opportunity to build infrastructure using this time interval. Since many of the good companies (L&T, Gammon, IVRCL, HCC, Bhageeratha etc etc) will find their order book shrinking, they will be willing to execute works at lesser cost to keep their machinery moving. India needs a lot of infrastructure facilities. Many financial institutions like world bank, IMF will be in a position to give loans to Government of India. Wonderful opportunity for India - Good competitive financing options, Competent companies & Fine work force.
Hope governance gets delinked from politics and all concerned raises above myopic visions.
Have a nice time !