G P Sharma, President (Meteorology) of the Skymet Weather said the Long Period Average of the rainfall during June to September will be 103 per cent with an error margin of plus or minus 5 per cent.
The Reserve Bank of India (RBI) will maintain the policy repo rate at 6.5 per cent during its upcoming June 8 announcement, considering the easing of retail inflation in April and the potential for further decline, indicating the effectiveness of previous policy rate actions, anticipate experts. Headed by Reserve Bank Governor Shaktikanta Das, a meeting of the six-member Monetary Policy Committee (MPC) is scheduled for June 6-8. The decision of the 43rd meeting of the MPC would be announced on Thursday, June 8.
.jpg)
We invite our readers to share their thoughts on water conservation with us on our social networking platform, ZaraBol -- Click #How-to-Conserve-Water to post
With the Nifty50 just about 3 per cent away from its all-time closing high of 18,812 points, analysts at BofA Securities suggest investors book profit. Their reasons for the advice include risks like the possibility of a cut in corporate earnings growth forecasts, high valuation (one-year forward P/E of 19.5x), interest rates staying elevated for longer-than-expected and credit tightening. Going ahead, they expect the Nifty50 index to drop to 16,000 levels - down nearly 12 per cent from the current level of 18,255 points, which they believe would be a good time to buy.
He assured fears of food shortages were far-fetched.
"The main risk stems from the uncertainty surrounding the outcome of the south west monsoon in view of the rising probability of an El Nio event around July-August, and its implications for food inflation," RBI said, as it kept the status quo on key interest rate for the third time in a row.
India's economy continues to be robust, but downside risks such as rising crude oil prices, adverse weather conditions, and the global banking crisis outweigh the upside potential in gross domestic product (GDP) growth in the current financial year (FY24), the finance ministry said on Tuesday in its Monthly Economic Review for March. "We reiterate that downside risks to our official forecast of 6.5 per cent for real GDP growth in FY24 dominate upside risks," the review said. "Opec's surprise production cut has seen oil prices rise in April, off their lows of low-seventies per barrel in March.
While India won't be immune to global spillovers, we need to create the macro preconditions for sustained growth. Policy agility, prudence, and resilience will be key, suggests Sonal Varma.
Retail inflation fell to a 15-month low of 5.66 per cent in March, mainly due to a decline in food prices, government data showed on Wednesday. The inflation figure in March is within the RBI's comfort zone as it is below 6 per cent. The retail inflation based on Consumer Price Index (CPI) was 6.44 per cent in February 2023 and 6.95 per cent in the year-ago period.
After tabling the Survey, Jaitley told reporters that fiscal deficit for the current year will be 4.5 per cent which needs to go down further in the next two years.
Monsoon normally hits Kerala on June 1 but this year, Met department had predicted that it will hit the state on June 5.
Index of Industrial Production is expected to have grown by 1-2 per cent in April, D&B said in a research note, adding that the pace of improvement in consumption and investment demand is likely to take place as per the measures taken by the new government.
'The Fed rate will peak in the range of 5.1-5.3 per cent during the second quarter of CY23 and will most likely stay there for a while before rate cuts start in CY24.'
Hailstorms may cause Rs 12k-cr crop damage, El Nino a bigger worry.
India now faced a higher likelihood of a drought in some parts, as monsoon rain would be less than predicted in April, private weather forecaster Skymet said on Friday.
Scores of people die every year due to cold waves that sweep across the north Indian plains.
Cyclone 'Biparjoy', the first storm brewing in the Arabian Sea this year, has rapidly intensified into a severe cyclonic storm, with meteorologists predicting a 'mild' monsoon onset over Kerala and 'weak' progress beyond southern peninsular under its influence.
The benchmark index on Wednesday surged 314.92 points or 1.05 per cent to close at 30,248.17 on widespread buying spurred by forecast of a normal monsoon this year.
Skymet lowered its full season monsoon forecast to 'below normal' from 'normal', while the IMD is sticking to its earlier forecast that rains in June to September of 2018 would be 'normal' at 97 per cent of the LPA with a model error of +/-5 per cent.
Atletico Madrid are close to tying up a deal for Spain forward Fernando Torres to return to his boyhood club on loan from Chelsea.
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.
Asserting that retail inflation excluding food and fuel is still at an elevated level, the Reserve Bank of India on Tuesday said it would endeavour to curb price increases.
The HSBC India Manufacturing Purchasing Managers' Index, a measure of factory production, stood at 51.3 in April, unchanged from 51.3 in March, amid moderate expansion of incoming new business orders.
The first five months of 2023 have witnessed at least six major events/trends that augur badly for global economic and socio-political prospects, points out Shankar Acharya, former chief economic adviser to the Government of India.
The southwest monsoon which reached the country on May 30 well within its normal onset date
Current account deficit is expected to narrow to 1 per cent.
Gold prices this year are higher than last year, and the goods and services tax is an additional burden for consumers
Data spanning the years 1951 to 2014 show that temperature and pressure conditions at specific locations in the Arctic region during the pre-monsoon period correlate with the Indian summer monsoon rainfall, points out Charu Bahri.
Spain forward Fernando Torres has agreed to return to Atletico Madrid on loan from AC Milan until the end of the 2015-16 season.
Anything between 96-104 per cent of the LPA is considered as normal rainfall while precipitation in the range of 104-110 per cent is termed 'above normal'
Similarly, the wide-based 50-issue CNX Nifty of the NSE jumped 109.30 points, or 1.46 per cent, to end above 7,500-mark for the first time at 7,583.40.
.jpg)
The RBI said lead indicators point to continuing sluggishness in domestic economic activity in the first quarter of 2014-15.
According to the report by the global financial services major, the FY2013-14 CAD is expected to be within $36 billion or 2 per cent of GDP, and this fiscal year CAD is likely to be slightly higher but contained at 2.3 per cent of GDP.
Millions of farmers plant rice, cane, corn, cotton and soybean crops in the rainy months of June and July. Harvesting starts from October
US brokerage Bank of America-Merrill Lynch on Tuesday said its sees the first rate cut this fiscal only in March next as inflation is expected to fall only by December end on a decline in commodity prices driven by the US Fed tapering.
The method is based on a network analysis of regional weather data.
As far as Saffola is concerned, oil and oats have been successful segments.
As many as 200 demonstrators rallied in downtown San Francisco on Wednesday near where Super Bowl festivities are being hosted, protesting what they say are the city's plans to clear away homeless people to make way for tourists and events.
Scientists at the India Meteorological Department warn that not only has India turned hotter in the last two decades, but that heat waves are projected to become more intense, have longer durations and greater frequency, thereby resulting in more deaths.
Timely onset of south-west monsoon is crucial for kharif (summer) crops.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances