CEO’s Reading List: November 2, 2019

| Updated on November 02, 2019

Missed all the important economy and policy news this week because of post-Diwali blues? Here’s a curated reading list of BL’s most important stories on these subjects over the week ended November 2

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

Published on November 02, 2019

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