The alarming news from India is that the job cuts are to be effected in the next 10 days and the sectors that will be engulfed include steel, cement, ITeS, BPOs, financial and brokerage services, construction, real estate and aviation.

So that Diwali does not go sour, the corporates had planned this much earlier, but deferred the decision till Diwali, so that the most revered event by the Hindus was allowed to pass.
It is like darkness before noon. How does it matter if night sets in earlier? The high rate of inflation prevailing for several months now has stealthily put its hand in the pockets of the ordinary person, robbing him of his money silently.

Economic theory recognises that inflation is a tax on the poor and puts money in the hands of the wealth owners. Worst still is the fact that the price rise has been mainly in the domain of essential commodities, like vegetables, rice, wheat and pulses.

If inflation persists, the poor would be deprived even of his 'dal' and 'roti' — the staple food of Indians.