The decline in Maruti's sales just when it looked like the worst was over in October, adds to the narrative of a deepening slowdown in the overall Indian economy now inching towards a recession
Q2 GDP growth rate: India's swift growth is not only significant for the country but for the world economy too as India accounts for 7.7 per cent of the world GDP
"India's real Gross Domestic Product (GDP) growth was at 6.4 per cent at the end of 2009-2014, whereas between 2014-2019 it was at 7.5 per cent," stated FM Sitharaman
Warning signs are becoming more apparent - employment is down, consumption is falling, capital formation is at a low...
The last time steel production had fallen in a month was in March 2019 when the decline was 1 percent
Ind-Ra said that even GDP growth of 5.6 per cent will "require heavy lifting by the government". It warned that sticking to the fiscal deficit target of 3.3 per cent could push GDP growth even below 5.6 per cent
For the full fiscal 2019-20, the Delhi-based National Council of Applied Economic Research (NCAER) has pegged GDP growth at 4.9 percent as against 6.8 percent in 2018-19.
The fall in consumption of petroleum products has also led to the decrease in crude oil imports by 15 per cent in September. Consumption of fuel is likely to remain low in the coming months as well.
The downturn in overall business activity and demand suggests the Reserve Bank of India might need to ease policy again, on top of the cumulative 135 basis points of rate cuts delivered this year
Bajaj Auto motorcycle sales, including export, fell 8 per cent to 398,913 units from 432,985; the company also saw a 5 per cent fall in domestic commercial vehicle sales in October