The rain gods, it appears, will play a role in the decision of fast moving consumer goods companies to either raise or maintain prices of their products in the second quarter of the financial year.
Food inflation continues to run amok, and very clearly, the government does not seem to have any clue on how to rein it in.
The agriculture sector is likely to grow in the range of 5.2-5.7 per cent in 2013-14, nearly three times more than the last year as good monsoon has raised the prospects of bumper harvest, a CACP discussion paper said.
In the coming months, globally as well as in India, rice might remain a hot potato.
A delicious fast, no-fuss one-pot dinner.
Ahead of the Monsoon session of Parliament, former Congress ally Dravida Munnetra Kazhagam on Monday indicated its support to the UPA's 'game-changer' Food Security Bill even though it has wanted a few changes in it.
Trend could continue on downward revision in winter harvests.
The way India dealt with the impact of the global economic crisis and failure of the South-West monsoon was praise worthy, said Prime Minister Manmohan Singh in Lok Sabha on Friday.
The 77th Independence Day on Tuesday was a low-key affair in Himachal Pradesh with the traditional cultural programmes missing from official and district-level functions as the state mourns the deaths and destruction caused by incessant rains.
'We are not saying we are going to face a drought... We are a doing and performing government. A contingency plan is being prepared,' Science Minister Dr Harsh Vardhan tells Rediff.com
The finance ministry on Thursday raised concerns over the possible impact of El Nio conditions on India this year, saying if recent forecasts came true, the country could see lower agricultural output and higher inflation. "Some meteorological agencies predict the return of El Nio conditions in India this year. "If these predictions are accurate, then monsoon rains could be deficient, leading to lower agricultural output and higher prices," the ministry said in its monthly economic review.
With barely a week left, the session has been able to accomplish next to no legislative business, says Aditi Phadnis
In the chair was Defence Minister Rajnath Singh, a Bharatiya Janata Party leader of the old school with friends across parties unlike the duo who currently run the BJP.
Unprecedented rains and floods in the northern region in the past few days have not only caused extensive damage to lives and property but have also impacted business and commercial establishments. Vegetable prices have gone through the roof in the national capital and many other parts of the country since rains started pouring earlier this month. Traders say vegetable prices would come down only after roads open and skies clear, even as water in the fields will take time to recede.
While the Delhi and Haryana governments have declared that they are all set to roll-out the food security programme on August 20 -- Rajiv Gandhi's birth anniversary -- there is confusion among the chief ministers about the implementation of the ordinance which gives the right to people to receive adequate quantity of food grains at affordable prices. Anita Katyal reports.
Aggressive rate hikes by the US Federal Reserve could result in a flight of capital from emerging markets like India, says B Gopkumar, chief executive officer, Reliance Securities.
Renu Mittal explains why United Progressive Alliance government's crucial legislative plans may not work despite all its efforts.
Improved monsoon, solid fiscal performance, and capex push by the public and private sectors augurs well for India's macroeconomic stability and growth, the finance ministry's monthly economic review for June 2023 said. But the report said that while India's domestic fundamentals remain strong, negative cross-border spillovers and adverse global developments could act as a deterrent in achieving the high growth path this financial year. "An improved matching of aggregate supply and aggregate demand in the Indian economy underpins the progress made in the control of domestic inflation and the consequent strengthening of macroeconomic stability," the review said.
The bill, considered by many in the Congress as a gamechanger which could boost its prospects in the Lok Sabha election, was tabled in the Budget Session but could not be taken up for discussion as Opposition stalled Parliament over a rash of scams under United Progressive Alliance.
''I don't revisit any of my work once it's complete because I'm very self-critical.' 'I will probably exclaim, "Oh God, such bad acting!"'
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
The impact of weak monsoon so far this year on India's farm production and economy is likely to be limited, the central bank said, as rainfall levels have improved considerably over the past one month.
Elevated food price-led inflation could become a sore point for markets, which they seem to be ignoring at current levels, observe analysts. Retail inflation in India - as measured by the Consumer Price Index (CPI) - came in at a three-month high of 6.52 per cent in January 2023, compared with 5.72 per cent in December and 5.88 per cent in November 2022. The inflation print for February, according to Madan Sabnavis, chief economist at Bank of Baroda, will be critical for the Reserve Bank of India's monetary policy committee.
The government on Wednesday said prices of the food articles might come down only after the ensuing Rabi season. Union Agriculture Minister Sharad Pawar said that due to the impact of the scant monsoon and the impact of floods, prices would not come down immediately.
Rising crude oil prices, traction in China equities and inflation concerns back home are casting a shadow on the Indian equity markets in the short term, believe analysts at Jefferies. They said this could see the markets remaining range-bound in the near term before the next leg up.
India decisively withstood global headwinds in 2023 and is likely to remain as the world's fastest-growing major economy on the back of growing demand, moderate inflation, stable interest rate regime and robust foreign exchange reserves. Despite widespread pessimism witnessed among the developed nations and the worsening geopolitical situation, India recorded a gross domestic product (GDP) expansion of 6.1 per cent in the March quarter. The growth moved up to 7.8 per cent in the June quarter and was 7.6 per cent in the September quarter. For the first six months of this fiscal, the growth was 7.7 per cent.
The state has suffered losses of Rs 4,000 crore and the figure is likely to go up as estimates continue to pour in, he said.
Wayanad will continue to support Rahul but not to the same extent as in 2019, when his margin of victory had been enormous. Articulate, to the point and speaking in fluent Malayalam, CPI's Annie Raja, had the people who gathered to see her, listening in rapt attention, notes Shyam G Menon.
A 6-7 million tonnes shortfall in rice production due to a fall in paddy sowing area is likely to keep rice prices at elevated levels, adding to the inflationary pressure that the slowing economy is already grappling with. Elevated food prices, including that of cereals, had led to retail inflation reversing a three-month declining trend, to touch 7 per cent in August. Similarly, the wholesale price inflation, which declined to 11-month low, also showed price pressures from cereals resulting from wheat output being impacted by severe heat waves in some parts of the country.
Chitrita Banerji's new book, Bengali Cooking, takes readers into the kitchens of West Bengal and Bangladesh through the changing seasons. And if it starts to rain, nothing matters more to the Bengali palate than the hilsa fish and the many ways it can be consumed.
'India is an equity market with a breadth and depth of companies to invest in.'
Prime Minister Modi last week called for optimal grain storage, fire audits and mock drills in hospitals as preparations for the harsh summer forecast by the meteorological department.
Food and fuel are two perennial areas of concern.
We had record production and procurement of foodgrains in both 2007-08 and 2008-09. We thus have adequate food stocks and there is no cause for concern or fear of shortages of foodgrains in the country as a whole, the prime minister said.
The recent equity market weakness has sobered up investor mood, but the coming festive season is keeping analysts upbeat on stocks related to the consumption basket. Among the lot, fast-moving consumer goods (FMCG), retail, and consumer electronics segments are expected to do well over the next few months, and investors should thus selectively take bets in these pockets, analysts suggest. "We expect good volume growth for the FMCG sector during the festive season with some improvement in rural demand.
The government is being pushed by Congress president Sonia Gandhi to put the food bill on fast track as the Congress had promised a 'right to food' in its 2009 election manifesto, reports Anita Katyal
It will save you the embarrassment of wading through waterlogged roads in a broken down car.
The government on Wednesday reached out to opposition Janata Dal-United as continued disruptions in Parliament blocked passage of the United Progressive Alliance's 'game changer' Food Security Bill that aims to provide foodgrains at cheap rates to 67 per cent of the population.
Congress leader Rahul Gandhi on Saturday termed Food Security Bill a "historic legislation" and asked party leaders to publicise its importance to masses as they gear up for elections scheduled early next year.
ICICI Bank was the top gainer after stable rating for its senior unsecured bonds by S&P Global Ratings.
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