The government hopes of registering GDP growth rate ranging between 6.1-6.7 per cent in 2013-14.
According to Skymet Weather, the initial surge in the Monsoon rains can be attributed to the transition of El Nino into the neutral phase.
'The last time we had such a late withdrawal of monsoon was in 1960 or so.'
'What's being predicted for Mumbai is not so different from what Kolkata experienced.' 'People should definitely be alert and aware and follow the advice of the disaster managers.'
Weather watchers said it can't be known till May whether El Nio will impact the monsoon or not.
Rains have been 5% below normal so far, but Met department sticks to its forecast
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The rains have so far been four per cent below normal.
While incessant rain in the past 24 hours has wreaked havoc in parts of the northeast, triggering flash floods, the national capital experienced one of its hottest days.
A 13.2 MW small hydro project on the Rishiganga river was swept away in the glacier burst in Uttarakhand on Sunday, but there is no danger of floods in the downstream areas as the water level has been contained.
IMD director general K J Ramesh said the Met wasn't being conservative and weather patterns indicated that there was a possibility of rainfall being very near to the 50-year LPA of 89 cm.
Monsoon rains are expected on time this year, hitting Kerala on June 1.
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El Nino is expected to occur in August-September, but it is unlikely to have any major impact on the monsoon, and the weatherman expects a positive Indian Ocean Dipole, which has a strong influence on rainfall in the country.
Light to heavy rains lashed several parts of north India intensifying cold wave conditions in the region following snowfall in higher reaches that brought down day temperature considerably in Delhi and neighbourhood.
As many as 38 flights, including 23 domestic and nine international, were diverted from the Delhi airport to nearby cities between 6-8.45 pm.
Heavy rains pounded south and central Kerala on Saturday wreaking havoc in many parts with some people feared missing in the landslides that occurred in hilly areas bordering Kottayam and Idukki districts prompting the state government to seek the assistance of the Army and Air Force for rescue operations.
This could have huge implications for agriculture, food prices, supply and overall economic growth of the country
A Korean couple and a retired Army Major General were among 310 people rescued by Chandigarh-based 12 Wing of the Indian Air Force, which has been conducting non-stop sorties during the past three days to evacuate people from flooded areas of Srinagar.
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Five of the 12 BSE sectoral indices ended at 52-week highs; the oil and gas index zoomed by nearly 5%.
As Cyclone Hudhud is closing in on the Andhra Pradesh coastline and is expected to make a landfall near Visakhapatnam by Sunday afternoon, about 1.11 lakh people in five coastal districts have been shifted to safer places.
Even as Tauktae's intensity weakened, it left behind a trail of destruction with as many as 13 people losing their lives in different parts of Gujarat, including Bhavnagar, Rajkot, Patan, Amreli and Valsad, officials said.
Rain deficiency in eastern and western Uttar Pradesh, Bihar, Jharkhand, Gangetic West Bengal, Assam and Meghalaya is 20-46 per cent less than normal as of June 17.
Heavy rains lashed south and east central Gujarat causing flood like situation in localities alongside rivers flowing through Valsad, Navsari and Surat districts and killing at least five persons at two places, officials said on Tuesday.
In UK, France and Germany, the president and CEO of Edelweiss Securities, anticipates votes incrementally in favour of local protection and de-globalisation.
The official India Meteorological Department (IMD) and the private Skymet Weather Services have made widely divergent monsoon forecasts.
Till Thursday, the country had received 41 per cent less June rainfall than normal - the scantiest in a decade and one of the rarest occasions when the shortfall in the month was more than 30 per cent - private weather forecaster Skymet said in its daily weather forecast on Friday.
Indian economy is expected to expand at 8.5-9 per cent over 10-15 year time frame once the structural issues hampering growth are addressed by the government.
Officials said good rain in August - though it might not improve acreages much for most crops except urad, moong, and paddy - would help in improving yields in the crops already planted.
A portion of the Nanda Devi glacier broke off in Uttarakhand's Chamoli district on Sunday, triggering an avalanche and a deluge in the Alaknanda river system that washed away hydroelectric stations, leaving at least seven people dead and 125 missing who are feared dead.
A five-seven per cent agriculture growth in 2013-14 would mean farming might exceed the 12th Five-Year Plan annual growth target of four per cent, if the trend continues.
The maximum death toll has been reported from Idukki district, where 43 people have lost their lives so far, as per official estimates. 28 deaths were reported in Malappuram and 27 in Thrissur.
Air quality in the national capital deteriorated alarmingly a day after Diwali as pollution levels spiked more than five times higher than normal leaving many at the risk of respiratory problems.
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
The monsoon this year in India was likely to be 'below normal' at 95% of LPA: Skymet
Yield loss due to natural calamity is calculated based on field reports and assessment of crop-cutting experiments by district and block agriculture officers.
Technology and prudent practices can ensure that crop output does not suffer in years of drought.
Above normal monsoon forecast and strength in Asian equities lifted sentiments.
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