At least 27 Indian pilgrims, all from Maharashtra, who arrived in Nepal for a 10-day tour were killed and 16 others injured after their bus veered off the highway and fell into a fast-flowing river in central Nepal on Friday.
Automobile retail sales in India declined 9 per cent year-on-year in September amid a massive buildup of passenger vehicle inventory due to sluggish demand, dealer's body FADA said on Monday, urging original equipment manufacturers to take corrective steps. The overall registrations declined to 17,23,330 units last month from 18,99,192 units in September 2023, as most of the categories including passenger vehicles and two-wheelers witnessed a year-on-year (Y-O-Y) drop.
GST collections in July rose 10.3 per cent to over Rs 1.82 lakh crore, mainly driven by domestic transactions in goods and services, according to official data released on Thursday. This is the third-highest-ever monthly collection recorded since the indirect tax regime was rolled out 7 years ago on July 1, 2017. According to the data, total refunds stood at Rs 16,283 crore in July.
A favourable monsoon and government support to the rural economy are among the reasons that agrochemical companies, including makers of pesticides and fertilisers, have done well.
Most brokerages are betting that the new government will shift to a policy focussing on boosting rural incomes and consumption since that has clearly been a pain point.
Monsoon is likely to reach Maharashtra and Goa in the next two days, the India Meteorological Department said on Monday, with a private weather forecasting agency predicting sustained heavy rains later this week.
'Investors can consider staying invested in long duration products as there is a possibility of rate cuts in the near term.' Positive macros - lower inflation, high forex reserves and favourable demand-supply dynamics for government bonds - make a strong case for rate cuts from December, says Devang Shah, head of fixed income, Axis Mutual Fund. In an interview with Abhishek Kumar in Mumbai, Shah says this view may not hold true if commodity prices go up sharply.
The weather office forecasts monsoon rains to be above average this year after the droughts ravaged crops and worsened rural distress
A normal monsoon will augur well for the country's agriculture sector and boost crop yields. However, good rains - and surplus crops - could also depress prices, hurting farm income, unless adequate steps are taken.
Sources said MPs of the opposition alliance in both the Lok Sabha and Rajya Sabha will meet to chalk out their joint strategy for the session from September 18 to 22.
They have been deployed to foil suspicious activities at the border in Punjab.
The Reserve Bank is unlikely to cut the benchmark interest rate in its forthcoming bi-monthly monetary policy review later in the week as retail inflation is still a cause of concern, and there is a possibility of the Middle East crisis deteriorating further, impacting crude oil and commodity prices, say experts.
Christina Rindiki's all-women team on the India-Myanmar border in Champhai, Mizoram, delivers 300 plus Amazon packets daily. The women handle all aspects of the operation and made around 450 deliveries per day this month alone. This is their story.
'All El Ninos are not associated with the deficient monsoon.'
The Reserve Bank of India on Friday retained its projection for retail inflation at 4.5 per cent for the current fiscal assuming a normal monsoon, while emphasising that uncertainties related to food price outlook warrant a close monitoring. Consumer Price Index (CPI)-based retail inflation has been projected at 4.5 per cent with quarter-wise projections at 4.9 per cent in Q1 (April-June), 3.8 per cent in Q2, 4.6 per cent in Q3, and 4.5 per cent in Q4.
Reserve Bank of India (RBI) is unlikely to cut the benchmark interest rate at its upcoming monetary policy review meeting, taking place soon after the announcement of the Lok Sabha election results, amid inflation challenges, said experts. The Monetary Policy Committee (MPC) may also refrain from rate cut as economic growth is picking up, notwithstanding the elevated interest rate of 6.5 per cent (repo) prevailing since February 2023. The meeting of the Reserve Bank Governor Shaktikanta Das headed MPC is scheduled for June 5 to 7.
India's crucial monsoon will be normal this year but with less heavier rains as the weather office on Friday marginally downgraded its earlier forecast.
Monsoon revival over weekend likely, but second-half rainfall may be muted. If the rains become scarce after mid-August, the standing kharif crops might be impacted
Monsoon is likely to be 96 per cent of the long period average
Big, listed FMCG (fast-moving consumer goods) companies such as Hindustan Unilever, ITC, Nestl, and Britannia have been top-performing stocks on the bourses in recent weeks. The Nifty FMCG index, which tracks the share prices of the country's top 15 listed FMCG companies, is up 1.9 per cent month-to-date in May compared to a 2.4 per cent decline in the benchmark Nifty 50 in the period.
Monsoons have had limited effect on market returns for a given year, report Sachin Mampatta and Sundar Sethuraman.
Dr Nagesh Kumar, one of the three new MPC members, wanted the MPC to reduce the repo rate by 25 basis points to 6.25%.
Dear readers, tell us what you are wearing this monsoon.
Equity markets will take cues from global trends and trading activity of foreign investors, while in the latter part of the week the first quarter earnings from IT majors TCS and HCL Technologies would guide investor sentiments, analysts said. Markets may consolidate after the record rally last week, experts added. "On the domestic front, the Q1 earnings season begins this week. Key companies such as TCS and HCL Technologies will release their earnings on July 11 and 12, 2024, respectively.
July and August are expected to receive 107 per cent and 104 per cent of rainfall
Readers share their best monsoon memories.
Moody's Investors Service on Friday raised India's growth projection for 2023 calendar year to 6.7 per cent on account of robust economic momentum. "Strong services expansion and capital expenditures propelled India's 7.8 per cent real GDP growth in the second (April-June) quarter from a year ago. "We have accordingly raised our 2023 calendar year growth forecast for India from 5.5 per cent to 6.7 per cent," Moody's said in its Global Macro Outlook. - el nino
Monsoon is expected to cover central and eastern India after Tuesday.
Steady progress in June; north and central regions to get good pre-showers
Besides MPs, parliament staff and media personnel, among other entrants to the building, will also be required to undergo the test for the coronavirus.
Rediff.com brings you monsoon images from across the country
Above-normal heatwave days are predicted in most parts of central, east and northwest India during this period.
A third of FMCG sales and half of motorcycle sales come from the hinterlands
Consumer goods firms and auto companies are witnessing an upturn in rural demand, which had been lagging for most of FY24. Expectations of a bumper rabi crop harvest have helped turn the tide. The Reserve Bank of India's (RBI's) Monetary Policy Committee kept the repo rate unchanged last week, noting that as rural demand catches up, consumption is expected to support economic growth in 2024-25.
This should augur well for the rabi crops as delayed withdrawal will leave enough moisture in the soil for early sowing.
Readers send us their best monsoon photographs.
Kumar also hinted that the Maharashtra elections could be held after Diwali.
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We bring you the best places to enjoy the rains to the fullest!
