The agricultural supply system has to be able to respond to this increasing demand, which it is not able to do.
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."
The salary hike for government employees is likely to put an additional burden of Rs 24,000 crore on the state excheque.
The pay hike has been made effective from January 1, 2016.
Opposition members led by Trinamool Congress MP Sukhendu Sekhar and Congress leader Mallikarjun Kharge asked the government to clear its stand over the nationality of the minister. Without naming the minister, Sekhar said: "The prime minister has been allowed to lay a list of the ministers after the reshuffle. Go through Wikipedia, then you will find that the name of the gentleman... a minister of state for home affairs is a reportedly a Bangladeshi." Sekhar was also supported by Kharge and other opposition members.
The demand was made by the Nationalist Congress Party, the Trinamool Congress and the Dravida Munnetra Kazhagam.
Some states are taking a legal view on the state GST rate and the compensation rules ahead of the Goods and Services Tax (GST) Council meeting, which is likely to be held in mid-June, said people in the know. While the agenda is still being finalised, several states are likely to take up the matter related to GST compensation and may pitch for its continuation beyond the June 30 deadline. States would like to know how they would divide the compensation collected after June 2022 for payment of principal and interest of compensation shortfall borrowing and arrears to states, sources said.
Rain deficiency in eastern and western Uttar Pradesh, Bihar, Jharkhand, Gangetic West Bengal, Assam and Meghalaya is 20-46 per cent less than normal as of June 17.
'When Covid first struck, the lockdown resulted in clean air in major Indian cities.' 'You were able to see the Himalayan range from Ludhiana.' 'In Delhi, you were seeing deer and stags all over the city because there was no traffic.' 'It was incredible. Nature was waiting to come back.'
What is more worrying, according to the report, is the fact that in over 20 per cent of the topic caseload districts where the second has ebbed, the third wave has set in firmly, which was only 5 per cent a month ago.
Gold has pushed lower as a result of Chinese selling.
High frequency indicators suggest that a growth recovery is underway, but very tentatively and with weak legs, says Saugata Bhattacharya.
To a specific question on the change in RBI's stance from "neutral" to "accommodative", Das said it means that there will not be any rate hike from here on.
The second half of June could be driven more or less by technical factors triggered by news flow from Greece, the US Federal Reserve and the monsoon. The technical picture seems bearish as of now, says Devangshu Datta.
Despite a rise in input costs, leading car-makers refrain from hiking their price.
Gold discounts in India, the world's second-biggest consumer, widened this week as dealers struggled to offload stocks amid sluggish demand.
India will raise its import duty on sugar to 40 percent from 15 percent, as the government tries to revive business at mills that owe farmers around $1.84 billion, the food minister said on Monday.
Movements in gold prices will depend on the US' interest rates.
With a bountiful harvest and stalled infrastructure projects starting, India growth story is intact.
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.
Proceedings in Rajya Sabha were repeatedly disrupted on Monday before being called off for the day as opposition members protested on the alleged phone-tapping and other issues and demanded discussions on them in the House.
Good monsoon, farm loan waiver -- the two key reasons behind more customers in jewellery shops
Assembly elections in Maharashtra are scheduled later this month. The farmer protests are likely to affect the results, especially in the onion-growing belt of Nashik.
The state plans for 4 per cent growth in agriculture and 11 per cent each in industry and services sector.
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
'The recent US jobs report has eased fears of a hike in the Fed meeting.'
Is this price-rise artificial? What do you think is causing it? Hoarding by unscrupulous traders? Too many middlemen? Tell us.\n
Already reeling under a demand slump, automobile manufacturers have expressed disappointment over the RBI's decision to hike short term lending rate saying it is likely to impact the interest rates on car and automobile loans further.
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.
In addition to concerns over monsoon shortfall and rising global commodity prices, RBI on Monday said that a hike in power tariffs could further push up inflation in the coming months.
The road ahead for the markets in the short term will depend on external factors rather than domestic developments.
A good monsoon could rein in food inflation. Largely good corporate results mean better days are ahead. Nifty may reach record levels, points out Devangshu Datta.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
'They should decide their allocation based on their risk appetite and age, and not valuations.'
Claiming that their recent nationwide strike was a "big success", CPI(M) on Wednesday said it would intensify the struggle against rising prices and would not be deterred by the "politically motivated propaganda" about losses the hartal caused to the nation.
According to World Gold Council (WGC), gold jewellery demand in India, the world's largest consumer, touched record 662.1 tonnes in 2014.
Overseas investors buoyed by recent rate cut by RBI and hopes of a good monsoon
The monsoon session of Parliament, scheduled to begin on July 26, is expected to be a stormy one with the Bharatiya Janata Party-led Opposition seeking to pin down the Centre on issues like the hike in fuel prices and essential commodities, and Foreign Minister SM Krishna's Pakistan visit.
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.
