Indian Corporates Had Dropped Down Their Revenue Forecast - March 9, 2009

Most of the Indian corporates had dropped down their revenue forecasts for this year. Along with this they were also looking aggressively at cutting their operational expenses through cost-cutting measures, including lesser increase in salary, according to a study by Watson Wyatt. Watson Wyatt is a global firm that is dealing with people and financial issues.

The survey affirmed that 57 per cent of the respondents had brought down their revenue forecast for 2009, while 13 per cent were considering a downgrade.Furhter, 27 per cent were still maintaining their earlier estimates but only a three per cent had raised their estimates for the year, the Watson Wyatt study said.