Independence Day celebrations muted due to recession

This year's Independence Day celebrations were muted due to the effect of the global economic downturn. India in the past few years was fast developing country, an economic force to be contended with in the future. Indian people were upbeat for the last years Independence Day celebrations, India were growing at a very fast rate. It certainly made many promises of economic development. But this year, there are cut backs every where. People are thinking twice to spend. Amidst this, the prime minister has promised that India will see economic development at the end of this year. People are anticipating an economic revival by India, hopefully the next year there will be better economic situation in India.