For many farmers, though, a bumper harvest isn't good news, as they have been forced to sell their produce, particularly pulses, dirt cheap.
If El Nino condition affects the monsoons, as is being forecast by foreign agencies, it can slow down the economy to 5.2 per cent next fiscal from a projected 6 per cent.
Inflation in food articles basket was 6.99 per cent In May, 2019, down from 7.37 per cent in April. However, onion prices spiked in May with inflation at 15.89 per cent, as against (-) 3.43 per cent in April.
Spiralling prices pinched the pocket of consumer as edible oil, fuel and many other commodities turned dearer this year amid pandemic-induced disruptions but the inflationary pressure is anticipated to ease, though marginally, in the coming months. As consumers, at retail as well as wholesale levels, are willy-nilly learning to live with the new normal of curbs to contain the spread of coronavirus infections, experts are of the view that elevated inflation is likely to stay longer. After dealing with the devastating blows from the second COVID wave, especially during the April-June period, the economy is well on the revival path but the emergence of Omicron might unsettle the recovery trajectory in the short term.
Readers share their favourite rainy day recipes with us. You can too!
The Reserve Bank of India on Tuesday kept key rates unchanged.
Made by hand, these steamed modaks are filled with jaggery and coconut.
India's current account deficit is expected to deteriorate in the current fiscal on account of costlier imports and tepid merchandise exports, according to the Finance Ministry's monthly economic review. The review released on Thursday by the ministry also said that global headwinds would continue to pose a downside risk to growth as crude oil and edibles, which have driven inflation in India, remain major imported components in the consumption basket. For the present, it said, "their global prices have softened, as fears of recession have dampened prices somewhat. This would weaken inflationary pressures in India and rein in inflation."
Flood victims have been fighting for survival and living in temporary shelters nearby railway tracks with lack of food items. They are yet to get any help from the government, reports M I Khan.
Maharashtra Chief Minister Uddhav Thackeray announced a statewide curfew for 15 days from 8 am on April 14 to contain the rapid spread of the coronavirus in its second wave. With Section 144 being imposed across the state, Thackeray essential services have been exempted from the restrictions. The curfew will be in place till 7 am on May 1.
Maharashtra Chief Minister Uddhav Thackeray on Sunday night announced a statewide curfew in Maharashtra for 15 days from April 14. However, he clarified, essential services were exempt from the curbs.
The RBI has set up a panel to review ATM charges, and fees levied by banks.
The pink beauties have arrived in Mumbai for their annual visit.
On food inflation, RBI said it is likely to soften from the high levels registered in December and the decline is expected to become more pronounced during the fourth quarter of this fiscal as onion prices ease following arrivals of late kharif and rabi harvests.
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.
The inflation in the food basket spiked to 7.89 per cent in October 2019 as against 5.11 per cent the preceding month.
Skymet is credited with correctly predicting the 2009 drought.
Pinaki Panda shares his experience. You can share yours too.
Pushed by rising prices of essential kitchen items, the retail inflation rose to an eight-month high of 7.34 per cent in September, making the RBI's task to push growth by reducing the interest rate even more difficult in coming the days. The Consumer Price Index (CPI)-based inflation was 6.69 per cent in August and 3.99 per cent in September 2019. Inflation has been hovering above 4 per cent since October 2019.
Senior Congress leader and Leader of Opposition in Rajya Sabha Ghulam Nabi Azad made this assertion outside Parliament while speaking to reporters and said the revocation of suspension of the Opposition Rajya Sabha MPs was not a demand, but a 'request'.
Twenty suspended Rajya Sabha members on Wednesday started a 50-hour relay protest inside the Parliament complex, with sources saying the Opposition declined the chairman's offer that they express regret over their members' behaviour in the House to get the suspension revoked.
The release of water has affected over 1.50 lakh people and damaged 171 houses, he said, adding National Disaster Response Force personnel have been deployed in the area to rescue people.
FMCG CEOs indicate that the market should stabilise post the general elections and that some growth should make its way back especially in rural areas
'The selling in India may emerge as soon as the RBI reverses its interest rate stance.'
Parts of Raigad, Ratnagiri districts in the coastal Konkan region and Kolhapur district in western Maharashtra, have been worst affected by the floods. Besides that, heavy rains have been pounding parts of Satara district.
In April, RBI had projected retail inflation to be around 5 per cent.
Intense showers battered Chennai and other northern regions of Tamil Nadu on Thursday while the depression over Bay of Bengal crossed the coast by evening.
Inflation, as measured on the Wholesale Price Index (WPI), has been in the negative zone since November 2014.
Kavitha Kuruganti has been fighting for decades to ensure farmers are respected and get their due from the Indian nation. In order to ensure they don't struggle for a living, she works to ensure sustainable farm livelihoods and farmers' rights.
India's factory output climbed 22.4 per cent in March, benefiting from the base effect of the lockdown-marred month a year back as well as a turnaround in the manufacturing sector, while retail inflation slipped to a three-month low of 4.29 per cent in April. The high positive annual growth in the index of industrial production (IIP) in March 2021 came on back of a contraction of (-)0.9 per cent and (-)3.4 per cent in January and February 2021 respectively, according to the data released by the National Statistical Office (NSO) on Wednesday. This turnaround was led by recovery in the mining, manufacturing and electricity sectors.
As it bets on a good monsoon for food prices to ease, the government on Tuesday said the Reserve Bank will consider appropriate policy actions to tighten money supply to bring down inflation.
The summer and rainy weather is favourable for locusts and they move from one place to another during this time, travelling 150 km in a day.
Vegetable inflation softened to 24.76 per cent in June, down from 33.15 per cent in the previous month. Inflation in potato was (-) 24.27 per cent, against (-) 23.36 per cent in May.
The agriculture sector has witnessed feeble growth on account of drought for two successive years
'These accusations of my film being a copy only makes our chances at the Academy harder.'
A diet rich in proteins, vitamins and minerals is very crucial in maintaining and boosting immunity.
'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.
PM Narendra Modi hopes the successful "rains" of GST will fill the Monsoon session with pleasant smell like that emanating from dry soil after showers.
Unless public health is prioritised over swift re-opening, the chances are that a third wave will hit India sooner than we would like.
Progress on monsoons along with favourable base effect in 2HFY2017 continues to point towards RBI achieving its near 5 per cent inflation target by the year-end
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