Cairn has slashed its planned capital expenditure (capex) by 60 per cent to $500 million against the earlier $1.2 billion.
Toyota, M&M and Honda are making tough adjustments to their growth plans as uncertainty over diesel vehicles and fuel emission norms rises
Indian economy about to take-off
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It also painted a grim possibility of any major gains in the rupee during the current fiscal saying that the continuing global volatility, and domestic political uncertainty ahead of the 2014 hustings will limit chances of any significant appreciation apart from further impact growth.
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While cost pressures could partly offset the expected gains, given the currency hedging by companies the gains will not accrue immediately.
A financial turnaround with the Etihad partnership and debt restructuring has not fully materialised.
It, however, lags other states on crucial parameters such as health care and rural poverty.
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