The Cabinet Committee on Parliamentary Affairs took the decision to extend the session till September 6 at a meeting held in Parliament House.
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.
The Reserve Bank of India on Friday revised upwards the GDP growth projection for the current fiscal to 7.2 per cent from 7 per cent on rising private consumption and revival of demand in rural areas. Unveiling the bi-monthly monetary policy, RBI Governor Shaktikanta Das said estimates released by the National Statistical Office (NSO) placed India's real gross domestic product (GDP) growth at 8.2 per cent in 2023-24. "During 2024-25 so far, domestic economic activity has maintained resilience," he said, adding that manufacturing activity continues to gain ground on the back of strengthening domestic demand.
This Muri Ghonto recipe has its origins in former East Bengal, present-day Bangladesh.
This recipe makes for a good appetiser or tea-time snack.
'The private sector believes that some enablers in labour-intensive sectors like apparel, toys, tourism, and media retail, can unlock a lot of jobs.'
Inflation dipped to a five-month low of 5.19 per cent in July mainly on account of decline in prices of some food articles, vegetables and protein rich items.
Homemaker turned celebrity chef Rakhee Vaswani sends in two easy-to-make recipes for you to try this monsoon.
Actress Chitrangada Singh provides tips to keep your hair glossy and undamaged during the rains.
Sales of fast-moving consumer goods (FMCG) witnessed significant recovery in September after enduring a double-digit decline in August, according to data furnished by Bizom. Kirana stores in rural areas stocked up in preparation for the festival season, which began in September. This, combined with rainfall reaching 113 per cent of the long-perid average for the month, contributed to a boost in sales.
FMCG major Hindustan Unilever on Wednesday reported a 1.53 per cent decline in consolidated net profit to Rs 2,561 crore for the fourth quarter ended March 31, 2024 due to factors such as deflation and softening of commodity prices. The company had posted a net profit of Rs 2,601 crore in the year-ago period, according to a regulatory filing from HUL. Net sales of Hindustan Unilever Ltd (HUL) were almost flat to Rs 15,013 crore in the March quarter.
Fast-moving consumer goods (FMCG) companies anticipate sustained volume pressures in the January-March quarter (Q4) coupled with sluggish rural growth during the period. Brokerages estimate top-line growth to be in low single digits in the quarter. Also, the late onset of winter had an impact on demand for winter products which range from moisturisers to hot beverages.
The arrival of the June-September rains has been delayed.
Monsoon rains are vital for 55 per cent of the country's farmlands that lack irrigation facilities.
Higher inflation has again become a matter of concern for fast-moving consumer goods (FMCG) companies. After prices of commodities like sugar and wheat moved higher and stabilised at those levels, the crude oil too surged, adding to FMCG firms' worries. Besides, a dry spell in August in the ongoing monsoon season impacted rural demand.
Food inflation further eased to 16.04 per cent for the week ended April 24, as arrival of rabi (winter) crops cooled down prices of essential items.
Pulses cropping has jumped to 39.4 per cent above 2015 levels.
Raakhee, who turns 77 on August 15, remains an enigma wrapped in a riddle. Dinesh Raheja remembers Raakhee telling him how she loves the rains and how she would drive down to Tulsi Lake in the 1970s and float paper boats in the water. He would like to imagine that Raakhee still does that at her farmhouse.
The government on Thursday said it will not allow prices of essential food items to increase due to the impact of possible deficient monsoon this year.
The total rainfall till now is not only deficient, but is also erratic in terms of both geographical spread and timings.
Contrary to some predictions, rainfall is adequate so far.
Rajan has ignored pressure to loosen policy.
Deloitte India on Friday said it estimates India's GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. In its India's economic outlook report, Deloitte said the rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services. With the expectation that the number of middle-to-high-income segments will be one in two households by 2030/31, up from one in four currently, we believe this trend will likely become further amplified, driving overall private consumer expenditure growth, it said.
The Reserve Bank of India on Thursday decided to keep policy rate unchanged for third time in a row as it maintains heightened vigil on inflation. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022.
With the monsoon set to start in the country this week, the Meteorological Department has placed the odds of El Nino -- which can affect wind patterns and trigger both floods and sharply reduced rains -- at 60 per cent.
A peek into the life of a public-sector banker who did well professionally, but paid a price for it, points out Tamal Bandyopadhyay.
Observing that the Bharatiya Janata Party is in favour of passing the Food Security Bill with some amendments, party president Rajnath Singh on Monday asked the government to advance the monsoon session of Parliament for the purpose. "We are ready for a debate on Food Security and Land Acquisition bills. We want these bills passed with some amendments. The monsoon session should be advanced for this," he told reporters.
Wholesale price inflation remained in the negative territory for the fourth month in a row in July at (-)1.36 per cent, even though prices of food items, especially vegetables, skyrocketed. The inflation, however, has inched up from (-)4.12 per cent recorded in June fuelled by 62.12 per cent rise in vegetable prices. In July last year, wholesale price index (WPI) was 14.07 per cent.
Union ministers Ravneet Singh Bittu and George Kurian were elected unopposed to Rajya Sabha Tuesday along with senior Congress leader Abhishek Manu Singhvi and former minister Upendra Kushwaha.
The RBI chief was speaking to researchers at an analyst call.
With conditions not favouring its progress, southwest monsoon is expected to hit the Kerala coast by June 4, three days after its normal onset date, the MET department has said.
Addressing an international meet on key inputs for accelerated development of Indian power sector at New Delhi on Tuesday Montek Singh Ahluwalia, Deputy Chairman of Planning Commission said that India's growth projection could be trimmed due to a poor monsoon.
These savoury kachoris are perfect for rainy days.
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
Rescue operations were underway on Friday to trace over 45 people missing following flash floods triggered by cloudbursts in three districts of Himachal Pradesh, officials said on Friday.
'Since there is no photo-op, or quick fix solutions, politicians do not want to address climate change. It is very unfashionable.'
'A weak monsoon always spells disaster. But it's too early to have a pessimistic view.'
Congress senior leaders concede that UPA could be safe in terms of numbers but that does not solve problem totally
The fast-moving consumer goods (FMCG) sector has underperformed the Nifty over the past year as its 20 per cent return is trumped by 29 per cent of the benchmark index. The FMCG index saw a 2.2 per cent drop in the last session, while the Nifty lost 1 per cent. FMCG is seen as a defensive segment. The demand for staples like personal care products, groceries and snacks tend to be stable. FMCG companies are consistent dividend-payers.
The latest forecast, given by Earth Sciences Minister Jitendra Singh, was a downward revision from a previous forecast of 93 per cent given at the outset of the monsoon in June, but was nowhere near as bad some farmers had feared.
