New Delhi, June 3 -- When India Inc tightens its purse strings, the consulting and audit firms that advise them follow suit. The coterie called the Big Four - KPMG, EY, PwC and Deloitte - have started reducing promotions, recalibrating salary increases and paring the number of seniors who are made partners.

"Major consulting clients like the IT sector globally have slowed down and there will be a domino effect. Our promotion numbers will go down and even hikes and bonuses, which typically come in August/September, will get impacted," said a senior partner in one of the Big Four firms.

Last week, Deloitte's promotions in India were announced.Mint learnt that about 4,600 people were promoted compared with about 5,000 last year - effective...