Earnings growth, attractive valuations and change in FPI flows from negative to positive over the next 12 months are some of the key triggers for an upside. "A poor monsoon, high inflation and further rate hike are some of the key risks
Monsoon rains are expected on time this year, hitting Kerala on June 1.
With conditions not favouring its progress, southwest monsoon is expected to hit the Kerala coast by June 4, three days after its normal onset date, the MET department has said.
'The market should maintain optimism on the back of range-bound oil prices, a robust fiscal balance sheet, a better-than-expected monsoon, and moderating inflation.'
But the IMD said the heat wave will continue till then in parts of the country.
For the second successive year, Monsoon is likely to be below normal with parts of north-west and central India to be the most affected.
The Reserve Bank of India on Thursday decided to keep policy rate unchanged for third time in a row as it maintains heightened vigil on inflation. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022.
Fitch Ratings on Thursday retained India's growth forecast for the current fiscal at 6.3 per cent citing economic resilience despite tighter monetary policy and exports weakness, but upped year-end inflation projection on El Nino threat. The Indian economy grew 7.8 per cent in the April-June quarter of current fiscal on strong services sector activity and robust demand. "The Indian economy continues to show resilience despite tighter monetary policy and weakness in exports, with growth outpacing other countries in the region," Fitch said, while projecting 6.3 per cent growth for current fiscal (April-March), and 6.5 per cent for next fiscal.
India decisively withstood global headwinds in 2023 and is likely to remain as the world's fastest-growing major economy on the back of growing demand, moderate inflation, stable interest rate regime and robust foreign exchange reserves. Despite widespread pessimism witnessed among the developed nations and the worsening geopolitical situation, India recorded a gross domestic product (GDP) expansion of 6.1 per cent in the March quarter. The growth moved up to 7.8 per cent in the June quarter and was 7.6 per cent in the September quarter. For the first six months of this fiscal, the growth was 7.7 per cent.
Sources said that the Congress was working to move the motion on Wednesday and is in the process of filing a notice in this regard.
'We are not saying we are going to face a drought... We are a doing and performing government. A contingency plan is being prepared,' Science Minister Dr Harsh Vardhan tells Rediff.com
The Indian Meteorological Department announced that conditions are favourable for further advancement of monsoon to some parts of southwest Bay of Bengal
If these six stories in Rainbow Rishta are any indication, then urban Indian society is moving towards a welcome liberalism, even though reality cannot be so simple, notes Deepa Gahlot.
Elevated food price-led inflation could become a sore point for markets, which they seem to be ignoring at current levels, observe analysts. Retail inflation in India - as measured by the Consumer Price Index (CPI) - came in at a three-month high of 6.52 per cent in January 2023, compared with 5.72 per cent in December and 5.88 per cent in November 2022. The inflation print for February, according to Madan Sabnavis, chief economist at Bank of Baroda, will be critical for the Reserve Bank of India's monetary policy committee.
Unprecedented rains and floods in the northern region in the past few days have not only caused extensive damage to lives and property but have also impacted business and commercial establishments. Vegetable prices have gone through the roof in the national capital and many other parts of the country since rains started pouring earlier this month. Traders say vegetable prices would come down only after roads open and skies clear, even as water in the fields will take time to recede.
Recent studies in China and Europe observed that the infection might relapse in those people who have already recovered from earlier phases.
Opposition parties of the Indian National Developmental Inclusive Alliance (INDIA) boycotted Lok Sabha proceedings on Friday to protest the suspension of Congress leader Adhir Ranjan Chowdhury from the House.
'Mumbai's corroding infrastructure, Delhi's pollution, Bangalore's rain water drainage, Kolkata's electricity -- these are all real and serious life threatening situations.'
India will receive normal monsoon this season, country's meteorological department said on Wednesday in its forecast for the Southwest monsoon that covers 75 per cent of the country, and thereby may bring much-needed respite to the economy, which is reeling under the catastrophic effect of the Covid-19 pandemic.
According to the sources, the meeting will be held at 10 am on Thursday in the chamber of Rajya Sabha LoP.
Nearly two-thirds of India's gold demand comes from rural areas where jewellery is a traditional store of wealth for millions who have no access to the formal banking system.
Without revealing details of the proposed programmes, the leader of the Janata Dal-United, a constituent of INDIA, said that a decision in this regard was taken at the just concluded conclave of the opposition alliance in Mumbai.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
'These accusations of my film being a copy only makes our chances at the Academy harder.'
A delegation of 21 Indian National Developmental Inclusive Alliance (INDIA) bloc MPs will pay a two-day visit to Manipur beginning Saturday to assess the ground situation first-hand and then make recommendations to the government and Parliament for a solution to the problems in the violence-hit state.
Monsoon rains are vital for 55 per cent of the country's farmlands that lack irrigation facilities.
Parliament proceedings were adjourned for the day on Monday following protests by the opposition which has been demanding a statement from Prime Minister Narendra Modi in the House on the Manipur issue. In the Rajya Sabha, the opposition kept insisting on a discussion under Rule 267 of the House.
"As I was working on agriculture, my family wanted me to take over the management of our plantations. But my aim was to master the art of developing new varieties, that is genetics and breeding. As the proverb has it, we reap what we sow. Consequently, sowing the right things is very important," M S Swaminathan had once said.
The Lok Sabha on Wednesday passed three bills to replace the colonial-era criminal laws by voice vote.
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.
Several leaders of the opposition's Indian National Developmental Inclusive Alliance (INDIA) have given a privilege notice against leader of the house in Rajya Sabha Piyush Goyal over his certain remarks against some opposition leaders.
The monsoon rains are crucial for farm output and economic growth as about 55 per cent of the south Asian nation's arable land is rain-fed.
''I don't revisit any of my work once it's complete because I'm very self-critical.' 'I will probably exclaim, "Oh God, such bad acting!"'
The market capitalisation of BSE-listed firms jumped to an all-time high of Rs 304.53 lakh crore on Wednesday, buoyed by an unprecedented rally in equities where the BSE benchmark Sensex ended over the 67,000-mark for the first time ever. Rallying for the fifth day running, the 30-share BSE Sensex climbed 302.30 points, or 0.45 per cent, to end at its lifetime closing high of 67,097.44 points. During the day, it jumped 376.24 points, or 0.56 per cent, to reach its all-time intra-day peak of 67,171.38 points.
The overtures by CPI-M state secretary MV Govindan had upset the Congress that had, subsequently, accused the Left party of turning the UCC into a Hindu versus Muslim issue for gaining political mileage.
"My heart is full of pain and anger," he told reporters in his remarks ahead of Parliament's Monsoon Session, amid his criticism by opposition parties for not speaking on the ethnic violence in the north east state.
With the rainy season upon us, Dr Parul Kolhe discusses monsoon haircare and recommends products available in the Indian market to cope with frizzy, dull, lifeless manes.
Cyclone 'Biparjoy' has an extensive damaging potential and it is likely to impact Kutch, Devbhoomi Dwarka and Jamnagar districts of Gujarat the most, the India meteorological department said on Tuesday.
'Commerce Minister Piyush Goyal once told me that if onion prices rise we will face the flak for it across India.' 'What can farmers expect from a government which talks like a trader and only believes in (electoral) profit and loss?'
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