The Indian recession is outgrowing the International recession. RBIs measures of cutting down Repo rates continously for more than five times has had no impact. Consumer sentiments remain conservative. Industry is not taking loans . The crackdown on corruption by way of demonetisation and mandatory GST has made the corrupt fall on their face. They do not want to be a part of the system and hence many have stopped looking for avenues. They are happy with the spoils of before. Others are equally suscept. Majority of consumers , specially the mid level business man who earned his living by trading have stopped there businesses and no longer want to buy. The salaried is losing his jobs due to downsizing.