Rediff.com takes its readers through the various moods of Raghuram Rajan.
Next set of Q4 FY16 earnings, progress of monsoon along with election poll outcome will dictate market trend this week
'There are a lot of companies that have been struggling really hard expecting to do better year after year.' 'All these people will think now, "Let me not fight any more. Let me end this".'
Similarly, the wide-based 50-issue CNX Nifty of the NSE jumped 109.30 points, or 1.46 per cent, to end above 7,500-mark for the first time at 7,583.40.
Floods triggered by the torrential rain since June 14 have wreaked havoc, inundating a vast swathe of flat land in the south and southwest of the country.
The IMD on its part is sticking to its forecast of July rainfall.
We had prepared a contingency plan for 580 districts, the minister said.
DroughtThe Centre is expected to discuss issues related to drought management and also review the progress of major central schemes like soil health cards, irrigation programmes
Many farmers in drought hit states are seeking MGNREGA work but the state government's coffers do not have enough fund to pay the salaries of these workers.
As he projected a grim outlook for the economy, RBI Governor said that amidst this encircling gloom, agriculture and allied activities have provided a beacon of hope on the back of an increase of 3.7 per cent in foodgrains production to a new record.
Here's a recap of the events from the past 48 hours.
Metal stocks also had a good session, with JSW Steel zooming by 7%, and Tata Steel and Nalco gaining about 3% each.
Just two days after recording 811.6 mm of rainfall in a day, Cherrapunji in Meghalaya received a bountiful 972 mm of precipitation in 24 hours ending 8.30 am on Friday, the highest in June since 1995 and the third highest in 122 years, the India Meteorological Department (IMD) said.
"This warming trend is alarming," said NASA Administrator Bill Nelson.
Enthused by rising potato prices after a prolonged slump, Pradeep Sharma was planning to sow the crop on his 15-acre farm near Agra slightly earlier than usual. The delayed departure of the southwest monsoon also prompted his decision, since the good soil moisture would have saved at least one initial irrigation. But the acute shortage of diammonium phosphate (DAP), a crucial nutrient ahead of the sowing season for potatoes, nipped those hopes in the bud. DAP is the second-most used fertiliser in the country after urea.
A fresh spell of heatwave is likely to begin over northwest India from May 7 and over central India from May 8, the India meteorological department said on Thursday.
The fall in urban sentiments in June is worrisome, observes Mahesh Vyas.
Credible fiscal consolidation has been a consistent pre-condition to easing the monetary policy stance as far as the RBI is concerned.
Asian Paints was the top gainer after the paints major posted robust first quarter earnings.
n the broader market, both the BSE Midcap and Smallcap indices, were up 1.2% and 0.7% each.
'Due to severe rains and heavy cross winds, arrivals at #AAI Chennai Airport will remain suspended from 1315 hrs to 1800 hrs, today. Departures will continue. The decision has been taken considering the safety aspect of passengers and severity of wind,' the Chennai Airport tweeted.
For the current woes of the state to end, in city after city, town after town, village after village, unauthorised constructions have to be removed, no questions asked, says N Sathiya Moorthy.
'It could rain about 200 mm in short span of time.'
Sensex ends belowe 26,800 on domestic concerns.
Sesnsex ended the day flat on heavy selling pressure.
Midcap stocks continued to remain on buyers' radar with BSE Midcap index up 0.1%.
Markets closed in the red on domestic worries.
In the first of a two-part series, Business Standard examines the impact of the upcoming summer on agriculture and drinking water supply.
The decision, taken by the Cabinet Committee on Economic Affairs headed by Prime Minister Narendra Modi, comes less than a year before next general election.
The lockdown has taught companies a lesson or two on running business with fewer human resources. These lessons are unlikely to be forgotten, observes Mahesh Vyas.
Growth in cities has lagged villages as consumers troubled by persistently high inflation have cut spending in the past two years.
The well-irrigated states of Punjab, Haryana, Karnataka, western Uttar Pradesh and coastal states such as Odisha are, for the first time, feeling the effects of a poor monsoon.
Critics argue that much more could have been done and that the government was slow to react to many events.
More than 3,000 squads under health and local self-government departments have started the process of cleaning houses and public places, official sources said.
Financials ended mixed despite the status-quo on key rates by the RBI. SBI, ICICI Bank and Axis Bank ended up 0.4-2.5% each.
The mercury in Delhi, which recorded its hottest day of the year so far at 45.6 degrees Celsius on Sunday, came down to 42.4 degrees Celsius, according to the India meteorological department.
With global markets pushing ahead, enthused by strengthening US jobs market, and also due to prospects of European rate hike, Indian markets also continued the march ahead.
Sensex eneded lower on poor perfromance by financials and IT stocks.
On December 1and 2, flood-ravaged Chennai received more rainfall in 24 hours than it had seen on any day since 1901, according to the National Aeronautics and Space Administration.
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