The Reserve Bank on Monday pitched for creation of a conducive environment for investment and faster clearances of projects to boost economic growth which slowed to a decade low of 5 per cent in the previous fiscal.
Allegations abound that traders milked the scheme to artificially keep prices down, while a significant amount of growers didn't even register owing to multiple difficulties in registration and were deprived of the payout.
Skymet said the monsoon this year could be 100 per cent of the long period average (LPA) with a model error of plus and minus 5 per cent.
Traders say prices will remain elevated due to increased demand, lower availability
According to the global financial services major, the Consumer Price Index based inflation is peaking off and is expected to be around 7.5-8 per cent in September.
Because of late monsoon, arrival of kharif (summer) onion crops would be delayed by a month in key growing areas of Maharashtra, Rajasthan and Madhya Pradesh, threatening to push up prices in the late September and October.
Assocham-Skymet report says untimely rain may reappear in north India.
BJP's best bet lies in the TDP and the TRS striking a deal with the Congress and framing the battle as a UPA versus NDA clash, reports Radhika Ramaseshan.
Binu Alex, co-founder and editorial director of www.commodityonline.com, in an interview to Syed Firdaus Ashraf/Rediff.com, says demand-supply imbalance arising out of the government's inability to preserve the crop for non-harvesting season is the root cause behind the price rise.
RBI in wait and watch mode as several risks to inflation continue to exist including a sudden reversal of food prices and oil price volatility.
'Onion supply to mandis has declined due to its lower availability.'
CPI inflation will remain below the target of 6 per cent set for January 2016.
RBI said inflation in the second half of the current fiscal is projected at 2.7-3.2%. It retained its GDP forecast for the current fiscal at 7.4%
Private traders had placed orders early this month with Egyptian suppliers at $320 a tonne
Experts say it will make GDP growth target of 5.7-5.8% difficult to achieve, while ministries feel late resurgence will help in sowing of rabi crops.
RBI policy surely cannot impact agflation, in any case.
Prices of the key vegetable have also gone up in various cities.
'He is not looking at the interest of farmers. He only wants to do the politics of elections.' 'This Budget is for the new super India. It is exploiting the villages of Bharat.'
The sharp drop in prices couldn't have come at a more difficult time, particularly for the two big producing states of Madhya Pradesh and Rajasthan, and also neighbouring Chhattisgarh as the states go to polls in the next few months.
Onion prices have been ruling at Rs 70-90 per kg in most parts of the country and even touched Rs 100 per kg in some cities like Patna and Jammu.
Folk artist from Chhattisgarh Teejan Bai, Guelleh, Naik and theatre actor from Maharashtra Balwant Moreshwar Purandare will be honoured with Padma Vibushan.
Monsoon rains are expected on time this year, hitting Kerala on June 1.
Madhya Pradesh, Maharashtra, Rajasthan, Chhattisgarh (all BJP-ruled), Karnataka, Haryana, Punjab, Uttar Pradesh, Jammu and Kashmir, Bihar, Assam, West Bengal and Kerala are among the worst performers.
Work in mandis across UP and in northern India which till Tuesday, witnessed heavy arrivals of newly harvested paddy, saw a steep decline.
As many as 17 farmers have allegedly committed suicide in the agrarian crisis-hit Vidarbha region of Maharashtra in the last five days, a non-government organisation working for their cause claimed on Monday.
'The current crisis is a result of a clash between a coercive attempt by the government to justify demonetisation and rising digital transactions against the market and the economy fighting the unexpected pressure from atop.'
Syed Firdaus Ashraf lists 10 instances when the BJP didn't pull its punches.
The best option to reduce farm distress in the state is that when the rains fail, the state -- the central and the state government -- provide a financial cushion for the farmer
The BJP has begun identifying officers who can 'rid' the administration of SP-BSP 'hangover'.
The committee would submit its report in the next two weeks.
Gold import this financial year is estimated at 945 tonnes.
The industry expects Iran to purchase at least 1 million tonnes this financial year
Indian indices have hit all-time highs in the New Year and the sentiment remains strong. All valuations are also at extremely high levels, cautions Devangshu Datta
Gross value added and low investment activity by the private sector remain areas of concern
UP is an important state to roll out the government's agrarian reforms and job growth policies.
The southwest monsoon season was deficient by 16 per cent.
The Consumer Price Index hit the lowest in six months in March at 4.83 per cent.
At a rally on the occasion of the BJP's 38th Foundation Day, the BJP president expressed confidence that his party would win the 2019 polls, "not by giving hollow assurances but on the basis of work done by the Modi government".
RBI watchers are going to be on tenterhooks for the next 3 weeks.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances