Will recession shape like U, V or L?

In these troubled times of global economic recession, the economists take us back to the classroom, to tell that the humble English alphabets—L, U and V—have a new meaning now. "The difference between L and U-shaped recession is economic policy. If policy is wrongly calibrated then there will be a L-shaped recession, but if they are reasonably better then it will be U-shaped recession," said Planning Commission deputy chairman Montek Singh Ahluwalia.