Top stories from the world of business and economics.
After discouraging macroeconomic figures confirmed a slowdown in Indian economy, equity benchmarks Sensex and Nifty declined over 2 per cent each on heavy selling in PSU banks and auto indices. Meanwhile, more bad news continued to flow in from the already struggling auto sector. Read on for more headlines from the world of business and economics today:
The decline in sales so far is due to weak growth in rural income and moderation in rural infrastructure spending. Rural incomes were impacted towards the second half of last fiscal due to flat crop production.
Maruti Suzuki plans to make its entire small car portfolio available in CNG variants. It is looking at the CNG option to fill the space currently occupied by diesel cars, which it intends to stop selling by April 2020.