CAT application status: Down by 1.2%

If you are planning to take the IIM CAT this year, you will be happy to hear that you'll see less competition this year. The number of applicants to CAT is down for the first time in last 12 years.

LiveMint reports that the number of CAT takers fell to 241,582, a 1.8% decline from the 246,00.

What do you think is the reason for this drop?