Indian economy is expected to expand at 8.5-9 per cent over 10-15 year time frame once the structural issues hampering growth are addressed by the government.
There are few concerns in India's growth story.
The food ministry is likely to fix the selling price of wheat and rice lower than the current market price.
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.
Softening inflation, Das said would make available more policy space to the central bank to address risks to the growth going forward.
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.
Maintaining that the economic policy of the United Progressive Alliance government has failed, the Communist Party of India
Will the 6 per cent inflation target be met?
New Delhi says existing food stocks will be sufficient to contain any food price shock.
Raj Bhavan sources said the swearing-in ceremony will be held at 11 am on Sunday, a day before the monsoon session of the Maharashtra legislature, the last before assembly polls later this year, begins.
Wall Street brokerage Bank of America Securities has pencilled in lower than the consensus retail inflation for the current fiscal year at 5 per cent, but higher than the previous forecast of 4.7 per cent. Stating that the June print will be critical for the future trajectory -- after the extremely high 6.3 per cent print in May, the brokerage in a report on Friday revised upwards its forecast by 30 bps to an yearly average of 5 per cent for the year to March 2022. "Though the June print will be critical for future trajectory, beyond near-term, we find some comfort from our analysis of four key factors that are likely to influence CPI inflation the most.
Twenty teams of the NDRF, comprising about 900 rescue persons, have been deployed in the state.
The economy is gaining traction with gradual pick up in manufacturing activity and moderation in contraction of services, spurred by comfortable liquidity conditions, an RBI article on Tuesday said. Observing that the retreat of the second wave of coronavirus pandemic has been slow, the RBI in an article on the 'State of Economy' said, the aggregate demand conditions are buoyed by the release of pent-up demand post unlock, while the supply situation is improving with the monsoon catching up to its normal levels and sowing activity gaining pace. "Reaffirming the traction that the economy is gaining, the manufacturing activity is gradually turning around, while contraction in services has moderated.
Retail inflation has eased from double digits in 2013.
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.
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.
Monsoon is this year expected to bring 19 per cent less rainfall than usual, resulting in an equivalent decline in sowing activities.
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.
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 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.
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.
The Indian Met Department has predicted a below normal monsoon.
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
Wholesale fuel prices in May fell 10.51 per cent year-on-year.
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 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.
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.
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.
RBI likely to cut rate early next year.
Full capital convertibility means a foreign investor can repatriate his money into his own local currency at will.
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.
Experts said a future rate cut would depend on the inflation.
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.
Pranjul Bhandari, Chief India Economist, HSBC, speaks about a range of issues ranging from inflation, to how Goods and Services Tax and land acquisition bills can help India hit double digit growth, and her impressions about economic growth in the last one year after Narendra Modi took over as India's Prime Minister.
The Reserve Bank of India held its policy rate at 7.25 percent on Tuesday.
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 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.
