Why are salaries dropping for CAs of late ??

Its a very disturbing trend as a rank holder in CA final today showed me his offer letter from a leading MNC with annual CTC being as less as 4 lakhs. Another friend who cleared in his second attempt had earlier rejected an offer from a leading MNC based in India last week as they offfered only 3.5 lakhs. They are all CA freshers. Why is salary packages dropping for CA freshers? Even a year or two ago they were taken at 8 lakhs and 9 lakhs as freshers? Why this sudden drop, it cant be argued that skills differ from person to person. For CA freshers there cannot be too glaring a difference in their skill sets as they are all freshers.Request your opinions on this alarming trend and invite sugessions on how to cope with this