Corporates Cutting Jobs to Save Costs: Study

The report further pointed out that if the situation does not improve in the near future, the negative fallout would be felt on those sectors as well which are driven by job markets like consumer goods, white goods, electronic gadgets and passenger cars.

Moreover, eroding consumer confidence would also affect tourism and its constituents like hotels, restaurants and tour operating. The aviation sector would also face tougher times, the report suggests.

However, the sectors which are still doing well include agri-related companies in implements, tractors, fertilizer, seeds, extension services and the rural product focused FMCG.

Current Account Deficit, which indicates imports of goods services and transfer are higher than their exports, touched 4.8 percent (or $88.2 billion) of country's Gross Domestic Product (GDP) in 2012-13 period.

Meanwhile, after heavy battering, the rupee, stocks and bonds today showed some signs of a fight back with RBI intervening in the market with massive selling of dollars as the domestic currency breached the 64-mark today.

Also for the first time ever, the rupee slipped below the 100-mark against the British pound today.

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