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According to the IMD forecast, monsoon is likely to be normal this year.
Kumar also hinted that the Maharashtra elections could be held after Diwali.
Southwest monsoon hit Kerala on Friday marking the start of the rainy season, four days after its normal onset date.
With another quarter of steady growth in demand, cement companies are expected to report strong year-on-year (Y-o-Y) growth in earnings, according to analysts. The September quarter (Q2FY24) also witnessed a resumption of price hikes in certain markets. UltraTech Cement, India's largest cement producer, reported a 15 per cent Y-o-Y increase in cement sales in the country for the quarter under review.
The weather office forecasts monsoon rains to be above average this year after the droughts ravaged crops and worsened rural distress
The India Meteorological Department (IMD) seems to have taken a cautious stand over the World Meteorological Organisation's (WMO) projection of a 'poor monsoon' due to a probable 'El Nino' impact. The IMD did not agree with WMO's projections, saying, "El Nino and the progress of monsoon are not mutually exclusive events", and remained non-committal over its earlier projection of a "normal monsoon" for the June-September 2009 season.
Don't let the monsoon showers affect your hygiene. Follow these precautions to stay healthy.
As the month ended with 33 per cent deficiency, which translates to around 67 per cent of the Long Period Average, several parts of the country have been witnessing drought-like situation.
'Usually the average rainfall per day is around 8 mm and India is receiving 10 to 11 mm per day since the last one week.' 'July seems to be very good for the entire country.'
Strong demand in the domestic market, coupled with an increase in raw material prices, is pushing up steel prices. According to SteelMint, a market intelligence and price reporting firm, the list price of flat steel has seen an increase of Rs 750-2,000 per tonne for October deliveries. The long steel price witnessed an increase of Rs 1,500 per tonne towards the end of September.
The India Meteorological Department introduced the present LRF models during 2007 following review of the old forecasting system.
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.
Against the Reserve Bank of India's (RBI's) projection of 7.1 per cent, India's first quarter (Q1) 2024-25 (FY25) gross domestic product (GDP) growth came in at 6.7 per cent. This is in line with market expectations and significantly lower than the 7.8 per cent recorded in the fourth quarter (Q4) 2023-24 (FY24) and 8.2 per cent in Q1FY24. The quarter witnessed decreased government consumption and investment spending due to the parliamentary election.
A favourable monsoon and government support to the rural economy are among the reasons that agrochemical companies, including makers of pesticides and fertilisers, have done well.
From the Sensex firms, Power Grid, NTPC, Tech Mahindra, Bharti Airtel, Tata Motors, IndusInd Bank, Reliance Industries, Kotak Mahindra Bank and Maruti were among the laggards. Asian Paints, Wipro, JSW Steel, Hindustan Unilever, Bajaj Finserv and Mahindra & Mahindra were among the biggest gainers.
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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.
States have been told to prepare in advance to counter any impact of an adverse southwest monsoon.
Gold seems to be losing its glitter in India due to a rise in prices. Demand in Q2CY24 was 149.7 tonnes - a 5 per cent drop compared to 158.1 tonnes in the same period last year, according to a report by the World Gold Council (WGC). Demand by value in April-June 2024 stood at Rs 93,850 crore, up by 14 per cent compared to Rs 82,530 crore in the same period last year.
Conditions are becoming favourable for advance of southwest monsoon over the southern part of Andaman Sea, Nicobar Islands and adjoining southeast Bay of Bengal during May 18-19, the IMD said.
There is a definite attempt to put the landslides on the backburner because news of them and climate change worry Wayanad's tourism and real estate businesses greatly. Whatever I experienced of Wayanad's 2024 by-elections; the July landslides were not a burning issue, observes Shyam G Menon.
High humidity causes sweat, dirt and dust along with other toxins to build up on the surface of the skin. Dr Saumya Shetty Hegde tells you how to take care.
Consumer goods firms and auto companies are witnessing an upturn in rural demand, which had been lagging for most of FY24. Expectations of a bumper rabi crop harvest have helped turn the tide. The Reserve Bank of India's (RBI's) Monetary Policy Committee kept the repo rate unchanged last week, noting that as rural demand catches up, consumption is expected to support economic growth in 2024-25.
For the Stalin government to win back the confidence of voters ahead of the Lok Sabha polls, post-flooding restoration works, their speed and efficacy would be closely watched, and not just by the political Opposition, notes N Sathiya Moorthy.
Chief Minister Sukhvinder Singh Sukhu said efforts are on to rescue the 300 stranded people, and they could be airlifted as the weather clears. Power and water supply has been snapped in several areas.
It has also advanced into most parts of Tamil Nadu, some parts of south interior Karnataka and remaining parts of south Bay of Bengal, according to IMD.
Rains have been 5% below normal so far, but Met department sticks to its forecast
We'd asked you, dear readers to send us your best monsoon pics. Click here to post your #Monsoon-Pics Presenting some interesting photographs we received from you.
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.
According to experts, slopes in Himachal have become highly vulnerable to landslides due to cutting of rocks at the foothills and the lack of proper drainage system, and high intensity rainfall is making the things worse for the state.
With monsoon rainfall 16% below the long-period average, total sowing area is down by 7% at 56.7 million hectares so far this season.
Read on to find out about the other destination trending this season.
With sales of cooling products turning out dismal this summer due to unseasonal rains, the stocks of related companies are now off their March highs. Shares of fan and air conditioner makers such as Voltas, Symphony, Orient Electric, Johnson Controls-Hitachi Air Conditioning and Crompton Greaves are down 5-23 per cent since March when the summer season saw a firm onset. In comparison, the BSE Sensex index is up 10 per cent.
This comes a day after the Uttar Pradesh government suspended six officials of civic agencies for alleged gross negligence following the road cave-ins and waterlogging at several sections of the newly-built Ram Path.
Retail inflation declined to a five-month low of 4.85 per cent in March mainly due to cooling food prices, inching towards the Reserve Bank's target of 4 per cent, according to official data released on Friday. The Consumer Price Index (CPI) based retail inflation was 5.09 per cent in February and 5.66 per cent in March 2023. Previously, CPI-based inflation was the lowest at 4.87 per cent in October 2023.
Skymet is the first major Indian weather forecasting agency to have issued a monsoon forecast for 2016.
Monsoon will hit the Kerala coast on June 1, setting the stage for the four-month annual rainfall season crucial for India's agriculture-based economy. "The date of onset of the southwest monsoon over Kerala is likely to be on June 1 with a model error of four days," the India Meteorological Department announced on Tuesday.
Inundation caused by monsoon rains continued to trouble people here and in other parts of the state, while Chief Minister M K Stalin on Tuesday inspected rain battered areas and distributed assistance to the affected people.
The actor has many reasons to fall in love with the rains.
