Is recession good or bad?

Recession is definitely bad for the economy of a country. Recession means massive decline in economic activity across the nation, spread over many months. When there is recession, there will be reduced output of goods and services, unemployment rate increases, countries will experience negative GDP. You can read about the Inflation in Economy- Types of Inflation, Inflation Remedies [UPSC Notes] in the given link.

Although the causes of depression and recession are similar, depression is much worse than recession and depression lasts longer. 

Further readings:

  1. Inflation Targeting: Methods, Drawbacks and Benefits
  2. Consumer Price Index (CPI) – CPI and its Types [USPC Indian Economy Notes]

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