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Recession in 2012: Reality or myth?

Indian economy dodged the Lehman shock and braved its way forward to emerge as a promising business destination - a hope of revival for many who suffered the onslaught of the 2008 global recession. Four years later what do we have? Persistently increasing inflation, depreciating rupee, jumping fuel prices, political uncertainties, log jammed parliament, dipping industrial production, and all-time low industry sentiment - is this a perfect recipe for an economic recession?
Is economic recession already knocking on India's doors?
Will 2012 be a repeat of 2008? Are we up for the worst?

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