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Muted Diwali cheer
Primary festival sales numbers from automakers, who were pinning their hopes on improved consumer sentiment, have not been that good with Maruti alone bucking the trend. Retail sales though are improving, said automakers.
No festival cheer for auto firms
Core sector gloom
The index of eight core sectors, believed to be a leading indicator on GDP sank over 5 per cent in September, the worst reading in 14 years, suggesting that the economic data for the quarter may remain bleak.
Core sector output shrinks by 5.2% in September
In layoff mode
Cognizant Tech has announced big layoff plans of 12,000 staff to reduce costs and fund investment projects
In cost re-jig move, Cognizant to lay off up to 12,000 staff
On the brink
Following the string of sluggish macro data, India’s manufacturing PMI also showed industry just about escaping contraction for the month of October
PMI-Manufacturing at two year low of 50.6 in October
Your gold is safe
Rumours of the government planning an amnesty scheme to unearth household gold aren’t true, said a CBDT official.
Why your gold is safe and may not attract a govt crack down
Against incentives
A WTO panel has ruled against India’s export incentive schemes such as MEIS and EPCG. India plans to go on appeal against the decision
India to appeal against WTO dispute panel’s ruling on export promotion schemes
Unending rains
The extended monsoon is now proving to be a liability to kharif output with unseasonal rains hurting harvests.
Unseasonal showers sweep away kharif crop; leaves Maharashtra farmers in tears
Preparing ground
Possibly paving the way for the long awaited vehicle scrappage scheme, the Centre has issued draft guidelines for companies setting up vehicle scrapping facilities.
Ministry issues draft policy on vehicle scrappage centres
Compiled by Aarati Krishnan
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