The Reserve Bank of India (RBI) has identified "climate shocks" as a risk to food inflation rates and overall price rise while stating that the outlook for the country's economic growth remains bright. In its Annual Report for 2023-24, released on Thursday, the central bank said easing supply-chain pressures, broad-based softening in core inflation, and early indications of an above-normal southwest monsoon meant well for the inflation outlook in 2024-25. "The increasing incidence of climate shocks, however, imparts considerable uncertainty to the food inflation and overall inflation outlook," said the RBI while noting headline inflation moderated by 1.3 percentage points on an annual average basis to 5.4 per cent in 2023-24.
India's gold demand rose 8 per cent annually to 136.6 tonne in the March quarter helped by a strong economic environment despite prices touching historic highs, according to the World Gold Council. The aggressive gold buying by the Reserve Bank of India (RBI) also contributed to the rise in demand. India's gold demand in value terms rose 20 per cent on an annual basis to Rs 75,470 crore during the January-March period of this year on volume growth as well as a rise in quarterly average prices by 11 per cent.
'The first two months of monsoon are not looking good.' 'In case both the halves fail, it is going to be misery.'
'It affects our economy, it is very important in many ways.' 'So we have to be the foremost experts in the world on the monsoon.' 'But the best minds in India have not devoted their time to the study of monsoon and they have followed the fashions of the West.'
Noting that Gandhi had claimed that armed forces can restore peace in the state within days if allowed, BJP leader and former Union minister Ravi Shankar Prasad wondered if he wanted what his grandmother and then prime minister Indira Gandhi had done by ordering the Air Force to drop bombs in Aizawl in the 1960s.
The news will augur well for the country as large parts have been witnessing agriculture distress and water levels in reservoirs in west and south India have dipped to low levels.
The Indian National Developmental Inclusive Alliance (INDIA) parties, led by the Congress, staged a walkout from both Houses of Parliament on Wednesday, in protest against all states except two being 'ignored' in the budget, an allegation termed 'outrageous' by Finance Minister Nirmala Sitharamanm, who said all the states never found a mention in any of the previous budgets, including those presented by the Congress.
'Since there is no photo-op, or quick fix solutions, politicians do not want to address climate change. It is very unfashionable.'
Questions that the state had come to recognise over time but consistently delayed treating seriously because doing so requires an overhaul of perspective and lifestyle, notes Shyam G Menon.
Monsoon is likely to be 96 per cent of the long period average
The Reserve Bank of India on Friday revised upwards the GDP growth projection for the current fiscal to 7.2 per cent from 7 per cent on rising private consumption and revival of demand in rural areas. Unveiling the bi-monthly monetary policy, RBI Governor Shaktikanta Das said estimates released by the National Statistical Office (NSO) placed India's real gross domestic product (GDP) growth at 8.2 per cent in 2023-24. "During 2024-25 so far, domestic economic activity has maintained resilience," he said, adding that manufacturing activity continues to gain ground on the back of strengthening domestic demand.
Extreme weather events and disasters have been on the rise in the region.
East India, along with a major portion of central India, is likely to be at a higher risk of being rain deficient, especially during the first half of the season.
Rising crude oil prices, traction in China equities and inflation concerns back home are casting a shadow on the Indian equity markets in the short term, believe analysts at Jefferies. They said this could see the markets remaining range-bound in the near term before the next leg up.
The Lok Sabha was adjourned twice in the post-lunch period on Thursday as a war of words broke out between the treasury and opposition benches, triggered by Congress MP Charanjit Singh Channi's spat with the Bharatiya Janata Party's Ravneet Singh Bittu.
'The terrorists are using better technology to secure their communication.' 'It does appear that excessive reliance on technology led to a weakening of human intelligence.'
Also, the monsoon this year may end up being the driest since 2015, which recorded a rainfall deficit of 13 per cent, they said.
The five warmest years in Indian weather history have occurred in the past 14 years -- the others being 2009, 2017 and 2010, in order of intensity.
The disruption by Opposition members drew sharp criticism from Prime Minister Modi who accused them of being unable to digest the fact that a large number of new ministers are women, Dalits, tribals and those from other backward classes
According to the Central Water Commission, of the 91 major reservoirs in the country, 62 water bodies reported 80 per cent or below of normal storage.
The Indian economy is projected to grow at 6.3 per cent in current financial year aided by investment and domestic demand. According to a World Bank report released on Tuesday, India continues to show resilience against the backdrop of a challenging global environment. In India, which accounts for the bulk of South Asia region, growth is expected to remain robust at 6.3 per cent in 2023-24, India Development Update of the World Bank said.
Barnes School, Devlali, is famous for its dal. But everything tastes good in the hill station air and vintage locale.
For now, Modi's government appears singularly focussed on demonstrating that it is not in any way inhibited by the BJP's loss of a majority, and will continue along its patented path of bulldozing all opposition and doing just as it likes, asserts Prem Panicker.
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.
This Muri Ghonto recipe has its origins in former East Bengal, present-day Bangladesh.
After an all-party meeting in New Delhi, Parliamentary Affairs Minister Pralhad Joshi also said that some of these 32 bills have already been discussed by standing committees of Parliament.
Besides MPs, parliament staff and media personnel, among other entrants to the building, will also be required to undergo the test for the coronavirus.
Sources within the Congress, including those who have been members of the teams that drafted its 2019 and 2024 Lok Sabha poll manifestos, said the Karnataka government decision lacked any empirical basis.
The total rainfall till now is not only deficient, but is also erratic in terms of both geographical spread and timings.
'The larger story of systematic destruction, which can and has been quantified, goes mysteriously missing from any political and/or public discourse about the ongoing devastation in the Ghats,' notes Prem Panicker.
Severe skilled, unskilled shortage threatens to pull emergency brakes on India's industrial engine.
The MPs include ruling Bharatiya Janata Party leaders Meenakshi Lekhi, Anant Kumar Hegde and Parvesh Singh.
Leaders of various opposition parties on Sunday demanded that issues of price rise, 'Agnipath' scheme as well as the alleged misuse of investigative agencies be taken up in Parliament and also raised objections to the list of 'unparliamentary words' at an all-party meeting convened by the government ahead of the Monsoon Session.
Similar discounts compared to online led to a spike in demand for offline, where customers can get a more personal and hands-on product experience.
A peek into the life of a public-sector banker who did well professionally, but paid a price for it, points out Tamal Bandyopadhyay.
'Given the inherent volatility, investors should take at least a three to five-year view.'
Passenger vehicle wholesales in India touched a record high of 42,18,746 units in the financial year 2023-24, registering a year-on-year growth of 8.4 per cent on the back of robust demand for utility vehicles, industry body SIAM said on Friday. As per the latest data issued by the Society of Indian Automobile Manufacturers (SIAM), the overall passenger vehicle dispatches stood at 38,90,114 units in fiscal year 2022-23. Two-wheeler sales were up 13.3 per cent last fiscal at 1,79,74,365 units, as compared to 1,58,62,771 units in the financial year 2022-23.
The weather office forecasts monsoon rains to be above average this year after the droughts ravaged crops and worsened rural distress
Riding on a bull run, equity investors became richer by Rs 128.77 lakh crore in the 2023-24 fiscal, driven by robust fundamentals of the Indian economy, increased investment inflows and promising corporate earnings. After a muted performance in 2022-23, equity markets made a remarkable recovery in FY24, giving handsome returns to investors. The 30-share BSE Sensex climbed 14,659.83 points or 24.85 per cent in 2023-24.
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