Heavy rains lashing Mumbai since Sunday have thrown rail, air and road traffic out of gear, with several trains and flights being cancelled. With IMD forecast of heavy rains for Tuesday, the authorities declared a holiday in the city and adjoining regions, asking people to avoid stepping out of their houses.
In a twist to people's understanding of Uttarakhand's monsoon mayhem, Dwarka peeth Shankaracharya Swami Shree Swaroopananda Saraswati has blamed the sex-food-fun oriented consumerism propagated by tour operators in the land otherwise known as "dev bhoomi" for the plight of thousands of pilgrims.
Nearly all the 43 economists surveyed over the past week expect the RBI to leave its key repo rate on hold at 8 per cent.
Data compiled by National Collateral Management Services (NCML, a non-government body) shows a 6.3 per cent rise to 109 million tonnes (mt). The Union ministry of agriculture's first advance estimate was 100.5 mt, as compared to 102 mt in last year's fourth advance estimate.
The aid will directly benefit 25,000 people from some of the worst hit areas of the state, adding a humanitarian expert from the European Civil Protection and Humanitarian Operations has also been deployed to assess the situation in the state.
For July-September, it pegged CPI-based retail inflation at 4.2 per cent which it saw firming up to 4.8 per cent in the second half of the current fiscal.
The disaster management department said that the state government has urged the Indian Air Force to send a helicopter for air-dropping of food packets and other relief material in marooned areas.
New Delhi says existing food stocks will be sufficient to contain any food price shock.
Will the 6 per cent inflation target be met?
Retail inflation has eased from double digits in 2013.
Maintaining that the economic policy of the United Progressive Alliance government has failed, the Communist Party of India
The monetary authority said it was worried on three fronts with regard to inflation as well as the economy.
The pay hike has been made effective from January 1, 2016.
Attacking the United Progressive Alliance government, Bharatiya Janata Party leader and former Finance Minister Yashwant Sinha on Wednesday said 4.9 per cent economic growth is not because of government's policies but due to good monsoon.
According to Krishi Bhawan officials in New Delhi, due to the well-distributed rainfall this monsoon, kharif production is set to rise perceptibly and consequently the net sown area will also increase.
Wholesale fuel prices in May fell 10.51 per cent year-on-year.
Monsoon is this year expected to bring 19 per cent less rainfall than usual, resulting in an equivalent decline in sowing activities.
The Indian Met Department has predicted a below normal monsoon.
The Maharashtra government on Tuesday withdrew its lockdown relaxation norms for Mumbai and Pune regions, both coronavirus hotspots, and revised its last week's guidelines prohibiting door-to-door delivery of newspapers and magazines in the state.
As the rising population is building pressure on food demand, the government may not allow acquisition of high-yielding farm land for non-agricultural purposes
Talking to reporters outside Parliament, Dr Singh said: "We have wasted a lot of time in the last two-three sessions and hope this is not repeated in this session. The government is willing to discuss all issues on the floor of the House."
The government on Thursday said India's forays in the world grain market will be reconsidered if the monsoon fails for the second consecutive year as the country's food security is of primary concern.\n\n\n\n
The health and family welfare ministry spent 70 per cent of its allocation till October. The ministry may need additional funds for the vaccination drive which is expected to be kicked off from January.
Chief Economic Adviser K V Subramanian on Monday said the overall impact of the second wave of COVID-19 on the country's economy is not likely to be large but cautioned about an uncertainty surrounding the pandemic going ahead. He further said that given the circumstances due to the pandemic, it is difficult to forecast if the country would achieve a double digit growth in the current fiscal. The Economic Survey 2020-21 released in January this year had projected GDP growth of 11 per cent during the current financial year ending March 2022.
Low rain coupled with the fact that maize prices in the open market have surged from around Rs 15-16 a kg to almost Rs 25 this year have forced farmers to turn to this crop.
The Reserve Bank of India governor Bimal Jalan has hinted at an upward revision of GDP and likely downward movement of inflation in view of food prices coming down following a good monsoon.
RBI likely to cut rate early next year.
Experts said a future rate cut would depend on the inflation.
Full capital convertibility means a foreign investor can repatriate his money into his own local currency at will.
106 people died on a single day on Thursday.
Jaitley said inflation has been under control for long and is likely to remain so on the back of good monsoon and unlikely spike in oil prices.
In the Northeast, while three people died in Assam, two each lost their lives in Arunachal Pradesh and Mizoram in rain-related incidents.
'Mr Modi has a huge opportunity before him.' 'Whether he grabs it the way Mrs Gandhi did in 1969 or squanders it as he did in 2014 will determine his economic legacy,' notes T C A Srinivasa-Raghavan.
A slew of Bills that will have a significant effect on India's financial landscape are likely to come up in the Monsoon session of Parliament.
'I hope the trend is sustainable and that economic activity accelerates going forward.'
The Reserve Bank of India held its policy rate at 7.25 percent on Tuesday.
In the context of RBI's view that the real interest rate, defined as the repo rate less "look forward" CPI, should be around 150-200 basis points.
Factory output in June likely rose 5.4 per cent from a year earlier, faster than the 4.7 per cent growth in May, according to a poll of 27 economists.
About 4.41 lakh rural habitations are facing drinking water scarcity and the government is closely monitoring the drought situation on a daily basis in 10 states, Agriculture Minister Radha Mohan Singh said on Saturday.
Headed to this dreamy hill station in Maharashtra? Here's what you can do there, says Anita Aikara.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances