Moody's Investors Service on Friday raised India's growth projection for 2023 calendar year to 6.7 per cent on account of robust economic momentum. "Strong services expansion and capital expenditures propelled India's 7.8 per cent real GDP growth in the second (April-June) quarter from a year ago. "We have accordingly raised our 2023 calendar year growth forecast for India from 5.5 per cent to 6.7 per cent," Moody's said in its Global Macro Outlook. - el nino
Five people died in rain-related incidents in Delhi Friday as Monsoon arrived with a fury early in the morning, lashing the city with its highest rainfall in a single day of June in 88 years which brought it to a standstill with streets flooded, traffic in chaos and some commuters stranded on roads.
It has also predicted a below normal monsoon for the season with a Long Period Average of 93 per cent, subject to the error margin of 5 per cent.
By June 14, the monsoon should have reached central India. But this year it hasn't even covered Karnataka properly or entered the Northeast.
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 IMD, in its onset date forecast on May 15, had said the monsoon is likely to hit the southern state on June 5, four days after its normal arrival.
'Our target will come from rural areas as there are more outlets there.'
An accurate early warning system that correlates rainfall and the potential for landslides. That is the imperative, say experts as rains create havoc in hills across India and the toll mounts in Kerala's Wayanad slopes where landslides buried entire homesteads and possibly hundreds of people.
'Modi knows the people here are opposed to this project, but he is using the might of government to push this port down our throats.'
India is set to experience extreme heat during the April to June period, with the central and western peninsular parts expected to face the worst impact, the IMD said on Monday as the country prepares for seven-phase general elections from April 19.
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.
'Hopefully, things will improve and give us more variables which we can control and accordingly take the decision.'
'Southwest Monsoon has advanced into remaining parts of Rajasthan, Haryana and Punjab and thus it has covered the entire country today, the 26th June 2020,' the IMD said in its special Daily Weather Report.
This Muri Ghonto recipe has its origins in former East Bengal, present-day Bangladesh.
The IMD has forecast heavy rainfall in some parts of the state in next 48 hours. "The southwest monsoon has arrived in Maharashtra. The onset line is passing over Harnai, Solapur, Ramagundum (Telangana) and Jagdalpur (Chhattisgarh)," IMD Mumbai centre's deputy director general K S Hosalikar said.
Mongolia can take a lifetime to happen but rewards the intrepid traveller with enduring memories of a surreal, delightful land.
The Opposition on Tuesday termed the Union Budget as a 'kursi bachao budget' driven by political compulsions and claimed that it ignored opposition-ruled states in a bid to 'appease' Bharatiya Janata Party's allies.
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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.
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'Heavy rains are not the primary reason for landslides in Wayanad.' 'There are all sorts of (human) intervention going on in that area.'
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.
Time to pack your bags and pamper the wanderlust in you.
Who else do we know who meditated so with such impeccable timing (much of the Lok Sabha elections over and with only the last phase to go) and hordes for unsolicited defence of the grand meditation at public expense? asks Shyam G Menon.
Passenger vehicle sales in India kicked off on a flat note in new fiscal 2024-25 with 3.38 lakh units sold in April, impacted by high base effect and muted demand due to the ongoing general elections. Dispatches of passenger vehicles from manufacturers to dealers were at 338,341 units in April 2024 as compared to 332,468 units in the same month last year, a growth of 1.77 per cent with major players Maruti Suzuki India, Hyundai and Tata Motors reporting marginal growth in their domestic wholesales.
Very heavy rainfall is likely to occur at one or two places in Kerala on Wednesday.
Above-normal heatwave days are predicted in most parts of central, east and northwest India during this period.
A prolonged break in monsoon rains in most parts of the country is threatening to hit the yield of kharif crops. It could even delay the upcoming rabi sowing. Major agricultural states, such as Maharashtra, Madhya Pradesh, Andhra Pradesh, Punjab, and Gujarat, have witnessed a deficit of 30-80 per cent in southwest monsoon rainfall in August compared to the long-period average for the month. Meteorologists see no big revival in monsoon rains from hereon, though they forecast "some activity" over the Bay of Bengal on September 5-6.
A likely western disturbance over north India during the weekend might cause heavy to very heavy showers in a few places, including New Delhi.
Data from department of agriculture showed that kharif crops had been sown in around 31.56 million hectares till Friday, which was 104.25 per cent more than the same period last year. Acreage of almost all crops was higher than last year.
Government sources said Modi will also chair meetings to review the aftermath of the Cyclone Remal, especially in the north east region hit by natural disasters.
The best places to enjoy the rains to the fullest!
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 horrific videos from Manipur have shocked India, leading to protests across the nation.
After missing its deadline, the monsoon is likely to hit the national capital and parts of north India by the end of the week, a private forecasting agency said on Monday.
Heavy rains lashed Mumbai and its suburbs on Wednesday, causing flooding on roads and rail tracks and disrupting suburban train services as the south-west monsoon arrived in the city with a bang, while the India Meteorological Department (IMD) issued an alert for more downpour.
The stock of Mahindra & Mahindra (M&M) has been touching successive all-time highs on the bourses and, over the past year, gained 81 per cent. While the S&P BSE Auto Index has not performed poorly, registering gains of 73 per cent, it still trails the company by 800 basis points (bps) during this period. There are multiple reasons why investors are beating a path to M&M's counter.
A sudden downpour in Delhi caught citizens off guard and caused heavy waterlogging and traffic jams on Tuesday while Mumbai breathed a sigh of relief as showers stopped a day after heavy rain brought the metropolis to its knees.
'The first two months of monsoon are not looking good.' 'In case both the halves fail, it is going to be misery.'
'The Budget will be positive, continuing on the path of growth taken so far.'
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