Rainfall in August is predicted to be below normal (less than 94 per cent of LPA), but the situation is expected to improve comparatively in September, the IMD said.
Several global models are predicting El Nio to appear around the second half of the year, which are the crucial rain-bearing months.
India is expected to contribute 15 per cent to the global growth in 2023, an International Monetary Fund (IMF) official said on Tuesday. "Both India and China are expected to contribute 50 per cent of the global growth in the upcoming year (2023). "However, the share of India's contribution to global growth is expected to be around 15 per cent," Krishna Srinivasan, director, Asia and Pacific Department (APD) at IMF said at a roundtable with reporters from south Asian countries.
As the southwest monsoon continues to narrow its overall deficit, the India Meteorological Department (IMD) on Wednesday exuded confidence that the dreaded El Nino weather pattern was unlikely to affect monsoon rains this year.
The leaders of the Quad comprising India, the United States, Australia and Japan are set to demonstrate that the grouping is a 'force for global good' and has a unifying commitment to a rules-based international order amid China's increasingly intimidatory behaviour.
The El Nino impact on the Indian monsoon typically manifests by way of extended break in rainfall.
S&P Global Ratings on Monday cut India's economic growth forecast for current fiscal year to 7 per cent, but said the domestic demand-led economy will be less impacted by the global slowdown. S&P had in September projected the Indian economy to grow 7.3 per cent in 2022-23 and 6.5 per cent in next fiscal year (2023-24). "The global slowdown will have less impact on domestic demand-led economies such as India... India's output will expand 7 per cent in fiscal year 2022-2023 and 6 per cent in next fiscal year," S&P Global Ratings Asia-Pacific chief economist Louis Kuijs said.
The Trump regime has informed the Congress that it 'strongly supports' transfers of F-18 and F-16 fighter proposals put forth by Boeing and Lockheed Martin respectively.
United States President Joe Biden will travel to India from September 7 to 10 to attend the G-20 Leaders' Summit during which he will discuss with other leaders a range of global challenges, including the Ukraine conflict, the White House announced on Tuesday.
India is likely to experience below-normal monsoon rainfall this year, with a 20 per cent chance of drought due to the end of La Nina conditions and the potential for El Nino to take hold, private forecasting agency Skymet Weather said on Monday.
East and northeast India recorded 29 per cent rain deficit -- 141.5 mm against the normal of 199.9 mm -- from March 1 to May 3.
Above-normal heatwave days are predicted in most parts of central, east and northwest India during this period.
Scientists had earlier said the cyclone pulled the moisture and convection, impacting the intensity of the monsoon and delaying its onset over Kerala.
Prime Minister Narendra Modi Thursday made a strong push for reforming multilateral institutions, including the United Nations, and spoke glowingly of India's ties with the United States, saying the two countries stand at a new dawn in their relationship that will not only shape their destiny but also that of the world.
Prime Minister Modi also made a veiled reference to China, saying the global order is based on the respect for the principles of the UN Charter, peaceful resolution of disputes, and respect for sovereignty and territorial integrity.
Jaishankar, who arrived in Santo Domingo on his first official visit to the Dominican Republic, also said that India has seen a dramatic expansion in connectivity, contacts, and cooperation across the region.
Pompeo would leave for New Delhi on June 24.
Arguably the greatest slow left-arm bowler that the world has ever seen, Bishan Singh Bedi left an indelible impression in minds of many with a character to die for.
While it hit the national capital two days before schedule, its entry into the financial capital is two weeks late, the Met office said.
The southwest monsoon season concluded on Saturday with India receiving 'below-average' cumulative rainfall -- 820 mm compared to the long-period average of 868.6 mm -- in an El Nino year.
If military power is all it would take to finish the menace of an awful terrorist organisation like Hamas, how come five Israeli wars in Gaza since 2003 have failed to do so? asks Shekhar Gupta.
One hopes in his next term, Narendra Modi will take up the mission of inculcating respect for following rules in Indians as a mission. Therein lies the chance for India to become a developed country, asserts Colonel Anil A Athale (retd).
Blinken will also attend a meeting of the foreign ministers of the Quad grouping and will hold bilateral talks with his Indian counterpart S Jaishankar in Delhi.
Less-than-expected rainfall and a poor spatial distribution, experts say, can rekindle fears of a rise in food and fuel inflation that can have an impact on the RBI's monetary policy. The fear of less than optimal rainfall due to El Nino this year, analysts believe, is the biggest short-term risk for the markets, which they said has not been fully priced in yet by them. Monsoon set over Kerala on June 08, a week later than its scheduled date.
'In 1984, Pyongyang just had one hotel and one could not move out without an official escort.' 'India was the only country with an embassy, apart from the socialist countries.'
Significantly, for the first time, the FATF put Myanmar in the "high risk jurisdictions subject to a call for action", often referred to as the watchdog's black list.
India is one of the few countries in the region that enjoys good relations with both Israel and Saudi Arabia, and IMEC would allow it to recreate the old Spice Route to Europe. All this is in jeopardy now, notes Rajeev Srinivasan.
'At the heart of the strategic relationship between our countries are economic ties.'
The country can expect normal rainfall during the southwest monsoon season as a positive Indian Ocean Dipole (IOD) and a lower snow cover over the northern hemisphere are likely to counter the evolving El Nino conditions, the India meteorological department (IMD) said on Tuesday.
Defence Minister Rajnath Singh on Wednesday conveyed to US Defence Secretary Lloyd Austin India's concerns over Washington's decision to provide sustenance package for Pakistan's F-16 fighter jet fleet.
A joint statement was issued by US Secretary of State Tony Blinken, Australian Foreign Minister Penny Wong, and Japanese Foreign Minister Hayashi Yoshimasa after their in-person meeting in Phnom Penh on the margins of the 55th ASEAN Foreign Ministers' Meeting.
Without naming India, S&P said it expects that in regions where inflation already exceeds targets, or which are vulnerable to capital flight, central banks will be forced to raise interest rates.
The Asian Development Bank (ADB) on Wednesday slashed India's GDP growth forecast for FY23 to 7 per cent from the earlier estimate of 7.2 per cent mainly on account of higher inflation and a tight monetary policy. India's economy grew 13.5 per cent year-on-year in the first quarter of 2022-23, reflecting strong growth in services, ADB said in its second supplement to Asian Development Outlook Report 2022 (ADO 2022). "However, GDP growth is revised down from ADO 2022's forecasts to 7 per cent for FY2022 (ending March 2023) and 7.2 per cent for FY2023 (ending March 2024) as price pressures are expected to adversely impact domestic consumption, and sluggish global demand and elevated oil prices will likely be a drag on net exports," ADB said.
In another forecast for August, IMD Director General Mrutunjay Mohapatra said monsoon is also likely to be normal in the month.
Ambani is in good company. The likes of ultra-rich individuals like hedge fund billionaire Ray Dalio and co-founder of Google Sergey Brin have chosen Singapore to establish their family offices. So have British inventor James Dyson, famous for his bladeless fans and hair dryers and vacuum cleaners, and Zhang Yong, founder of China's Haidilao hotpot restaurant chain, reports Lee Kah Whye.
'This resilience should be viewed as reflecting the strength of the structural story.'
Foreign portfolio investors (FPIs) turned net buyers in October after being net sellers in the previous month. In October, FPIs bought shares worth nearly Rs 8,430 crore ($1 billion) against net selling of Rs 13,405 crore ($1.6 billion) in September. Positive flows during three of the previous four months have pushed the domestic markets towards fresh all-time highs. At present, the Sensex and Nifty are less than 2 per cent shy of breaching record highs logged in October 2021. A rally in equity markets in the US and Europe is in hopes that the Federal Reserve may go soft on rate hikes after its November meeting.
Much to the surprise of Beijing, Nepal's Parliament on Sunday ratified the contentious US-funded $500 million Millennium Challenge Corporation compact along with an interpretive declaration a day ahead of the February 28 deadline set by Washington.
Scores of people die every year due to cold waves that sweep across the north Indian plains.
"President Biden has had warm and productive early conversations with his counterparts in Australia, India, and Japan, and looks forward to engaging even more directly with our partners in the Indo-Pacific as soon as possible," a senior administration official told PTI.
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