Automobile (auto) retail sales in India grew by an impressive 14 per cent in July compared to the same period last year, driven by a surge in the rural economy, good product availability, and product launches. While passenger vehicles (PVs) saw a 10 per cent increase during this period, inventory levels have surged to a historic high of 67-72 days in PVs, equating to Rs 73,000 crore worth of stock, according to the Federation of Automobile Dealers Associations (Fada). This poses a risk to dealer sustainability. Inventory levels in July 2023 were only 50-55 days, equating to a stock worth Rs 49,833 crore. In June 2024, inventory was between 62 and 67 days, with a stock value of Rs 60,000 crore.
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Automobile retail sales in India declined 9 per cent year-on-year in September amid a massive buildup of passenger vehicle inventory due to sluggish demand, dealer's body FADA said on Monday, urging original equipment manufacturers to take corrective steps. The overall registrations declined to 17,23,330 units last month from 18,99,192 units in September 2023, as most of the categories including passenger vehicles and two-wheelers witnessed a year-on-year (Y-O-Y) drop.
With the cooling down of heatwaves as the monsoon spreads across the country, power demand has fallen by 12.5 per cent from the start of this month till Monday. Peak power demand of the country had touched a record of 210 Gw last week, mostly due to rising temperatures and opening up of the economy. Compared with the beginning of this month, almost all states have seen a fall in power demand. Punjab, however, is an exception where the power demand on Monday was 17 per cent higher than on June 1.
Negi's remarks came after Kangana shared images of her visit to a flood-devastated region of her home state.
A two-day special session of the West Bengal assembly was convened by the government on September 2 to table and pass a Bill which would provide for capital punishment to convicted rapists, Parliamentary Affairs minister Sovandeb Chattopadhyay said. The Bill would be tabled for discussion and passage on Tuesday, the second day of the special session, Speaker Biman Banerjee said.
Normally, monsoon reaches Delhi by June 27. It covers the entire country by July 8. Last year, the wind system had reached Delhi on June 25 and covered the entire country by June 29.
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IMD Director General M Mohapatra said there is cyclonic circulation along the Karnataka coast which is hindering the progress of the southwest monsoon.
Over 40 people are still missing after a series of cloudbursts occurred in Kullu's Nirmand, Sainj and Malana, Mandi's Padhar and Shimla's Rampur subdivision on the night of July 31 and wreaked havoc.
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Wholesale inflation fell to a 4-month low of 1.31 per cent in August due to a decline in prices of vegetables and fuel, even though onion and potato prices spiked, according to official data released on Tuesday. Wholesale price index-based inflation fell for the second straight month in August after it hit a high of 3.43 per cent in May. Inflation in July was 2.04 per cent. In August last year, WPI inflation was (-) 0.46 per cent.
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Singh, considered close to RJD president Lalu Prasad and his family, was charged with raising slogans against Chief Minister Nitish Kumar on February 13, during a heated exchange in the House.
The Southwest Monsoon usually covers the entire country on July 8. The earlier normal date for the monsoon to cover the entire country was July 15.
Dr Nagesh Kumar, one of the three new MPC members, wanted the MPC to reduce the repo rate by 25 basis points to 6.25%.
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.
It expects rainfall to be about 106 per cent of the long period average, aided by La Nia conditions anticipated to play a role in the second half of the monsoon season.
G P Sharma, President (Meteorology) of the Skymet Weather said the Long Period Average of the rainfall during June to September will be 103 per cent with an error margin of plus or minus 5 per cent.
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One of the attackers threatened the victims with a pistol, while the others were armed with sticks, the official said.
Always boil water or at least filter it before drinking to avoid all possible water borne diseases.
Intense monsoon rains brought normal life to a standstill in several parts of eastern and central Rajasthan, flooding out roads, rail tracks, low-lying residential areas and hospitals and claiming seven lives since Sunday night.
Himachal is first state in the country to pass such a bill under which "A person shall not be entitled for pension under the Act, if he has been disqualified at any point of time under the tenth schedule of the Constitution".
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Kumar also hinted that the Maharashtra elections could be held after Diwali.
The four-month monsoon season from June to September accounts for 75 per cent of rainfall in the country.
The Reserve Bank is unlikely to cut the benchmark interest rate in its forthcoming bi-monthly monetary policy review later in the week as retail inflation is still a cause of concern, and there is a possibility of the Middle East crisis deteriorating further, impacting crude oil and commodity prices, say experts.
More wonderful greens for a hearty monsoon meal.
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Despite volume growth in the export segment and strong demand in the domestic market, pricing uptick is eluding Indian agrochemical companies.
The short-term inflation outlook for India is benign, and the expectation of a normal monsoon and moderating global prices of key imported items give credence to the projections made by the RBI and IMF, the Economic Survey said on Monday. However, to ensure long-term policy stability, the Survey 2023-24 suggested making focused efforts to increase the production of major oilseeds, expanding the area under pulses, and assess the progress in developing modern storage facilities for specific crops.
The monsoon calls for a bowl of simple, nourishing, soup.
'Rava roasted in shudh desi ghee, garnished with saffron and cardamom, sweetened with sugar or jaggery is heaven on a plate' says Taruna.
The Mysuru Urban Development Authority (MUDA) case over which the Karnataka Governor Thaawarchand Gehlot accorded sanction for investigation against Chief Minister Siddaramaiah has its origins more than three decades ago.
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