India's economy grew 6.1 per cent in the fourth quarter of 2022-23, pushing up the annual growth rate to 7.2 per cent, official data showed on Wednesday.
Drought fears will subside if the momentum generated is maintained in August.
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
According to the global financial services major, after the BJP's 'historic' election victory on May 16, hope for structural reforms has gone up.
Prime Minister Modi last week called for optimal grain storage, fire audits and mock drills in hospitals as preparations for the harsh summer forecast by the meteorological department.
Fiscal deficit, the gap between government's expenditure and revenue, stood at 4.5 per cent in FY14, lower than 4.9 per cent in FY13.
Heavy rain alert continued in Himachal Pradesh as the monsoon intensified in the various districts of the state.
One of the major contributors for the decline in growth will be the monsoon deficiency, which also affects non- agricultural sectors through demand effects, RBI report said.
'There is no mechanism to understand how things would evolve'.
Normal monsoon makes FMCG, automobile and consumer durable companies optimistic about growth prospects
However, risks to the outlook stems from possible sub-normal monsoon and higher crude oil prices (on account of the crisis in Iraq)," the Economic Survey 2013-14 tabled in Parliament by Finance Minister Arun Jaitley said.
There should be one comprehensive and credible report on weather for India since a major part of the economy is dependent on it, says 'weather man' Angshujyoti Das.
The Reserve Bank of India on Thursday opted for a pause second time in a row, maintaining key benchmark policy rate at 6.5 per cent as inflation moderates. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022. Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) unanimously decided to keep the rate unchanged at 6.5 per cent.
'A weak monsoon always spells disaster. But it's too early to have a pessimistic view.'
The official India Meteorological Department (IMD) and the private Skymet Weather Services have made widely divergent monsoon forecasts.
Because the ecology of various regions differs, it is silly to club them all under one countrywide average number, says Nitin Sethi.
Delhiites woke up to a rain soaked pleasant morning on Thursday which brought down the temperature to 22.4 Celsius, six notches below the season's average.
The country's chief statistician T C A Anant on Wednesday said high global crude prices could impact India's economic growth in 2011-12 and projected that the GDP is likely to grow by around 8.5 per cent during the fiscal.
This interactive maps shows you the rainfall received across India in the months of June and July.
'We had been deceived by the clouds, taken to the brink of death, but saved by the Almighty.'
January inflation may undershoot RBI's 6% target.
Industrial production (IIP) grew to a three-year high of 6.4 per cent in August, up from 4.1 per cent in July.
Prime Minister Manmohan Singh said on Tuesday that the country was facing a drought threat. India's vital monsoon rains have been 29 per cent below normal since the beginning of the June-September season, hurting crops such as rice and sugarcane and triggering a sharp rise in food prices.
The wide-based NSE sensitive index is currently hovering around 7,900.
Canada was behind India at the fifth place with 65 per cent economically confident citizens.
The mercury soared to 46.2 degrees Celsius at Najafgarh, making it the hottest place in the capital.
Apart from the human body, human food will bear direct repercussions. From staples such as wheat, to coffee, dairy, and even the great Hilsa face the threat of reduced supply due to the extreme heat.
Pulses cropping has jumped to 39.4 per cent above 2015 levels.
RBI likely to cut rate early next year.
Till July 26, kharif crops have been sown in around 68.87 million hectares, which is 6.43 per cent lower than the area covered during the same period last year.
There will be pressure on the fiscal situation, especially at a time when the monsoon can also disappoint. More populist expenditure is on cards if the mandate is a hung Parliament or a coalition government.
The government's decision to downplay the monsoon's failure has only worsened its credibility and will lead to a worse panic
'There is a weak link between the economy and the stock market.'
These three states sought a combined financial assistance of Rs 11,186 crore
'The actions of Indian monetary authorities will depend on how quickly they want the inflation to come down to 4 per cent.'
Ira Trivedi, wellness expert and founder of Yog Love, explains how these postures can help you keep monsoon ailments at bay.
Experts say it will make GDP growth target of 5.7-5.8% difficult to achieve, while ministries feel late resurgence will help in sowing of rabi crops.
'It is the most prone month for the development of cyclones in the pre-monsoon period.'
Some of the stretches and areas where waterlogging was seen included Dhaula Kuan, Mathura Road, Moti Bagh, Vikas Marg, Ring Road, Rohtak Road, Sangam Vihar, Kirari and near Pragati Maidan among others.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances