With satisfactory progress of monsoon rainfalls prompting farmers to bring in additional area under basmati sowing, prices are set to fall lower going forward.
Morgan Stanley sees a downside risk o 30-60 bps
The five warmest years in Indian weather history have occurred in the past 14 years -- the others being 2009, 2017 and 2010, in order of intensity.
There is a definite attempt to put the landslides on the backburner because news of them and climate change worry Wayanad's tourism and real estate businesses greatly. Whatever I experienced of Wayanad's 2024 by-elections; the July landslides were not a burning issue, observes Shyam G Menon.
"Conditions are favourable for the onset of southwest monsoon over Kerala and its further advance into some more parts of south Arabian sea, remaining parts of Maldives - Comorin area, some parts of Tamil Nadu and some more parts of Bay of Bengal during the next 24 hours," said a statement by the Indian Meteorological Department.
Kumar also hinted that the Maharashtra elections could be held after Diwali.
Above-normal heatwave days are predicted in most parts of central, east and northwest India during this period.
Fitch Ratings on Tuesday raised India's growth forecast for the current fiscal to 7.2 per cent, from 7 per cent projected in March, saying elevated consumer confidence will drive spending, besides increased investments. In June update to its global economic outlook report, Fitch said it expects inflation to decline to 4.5 per cent by end of this year and RBI to cut policy interest rates by 25 basis points to 6.25 per cent.
A deficient rainfall season starts with heavy showers.
The meeting took place in the backdrop of drought-like conditions prevailing in some parts of the country.
Installed at a cost of Rs 450 crore in Pune and Noida, the two supercomputers are set to fundamentally alter the weather forecasting scenario in India by enabling the IMD to forecast severe weather conditions up to the sub-district or block level.
The correlation between crop yield and expenditure on gold is positive.
Agriculturally important UP, MP, Haryana, Maharashtra, and Punjab received 20-30% shortfall in rain
About 60 per cent of the total cultivable area of 140 million hectare is rain fed, while the rest is irrigated. Southwest monsoon, which had brought cheer to the farming community due to its early onset on May 23, had stopped in its tracks over Konkan region of Maharashtra on June 7.
"We expect 98 per cent rainfall during the June-September monsoon period," the science and technology minister told reporters in New Delhi.
In shortfall years, index's returns have been higher than the 10-year average.
The monsoon has so far disappointed and if rainfalls do not increase soon it will push up inflation as well as the subsidy bill, further limiting the room for RBI rate cuts, an HSBC report says.
Chief Minister Sukhvinder Singh Sukhu said efforts are on to rescue the 300 stranded people, and they could be airlifted as the weather clears. Power and water supply has been snapped in several areas.
Monsoon is likely to arrive in Kerala on May 29, the India Meteorological Department predicted on Wednesday. ''This time, the monsoon onset over Kerala is likely to be on May 29, with a model error of four days,'' the IMD said in a statement. With strengthening and deepening of monsoon winds and widespread rainfall activity, southwest monsoon advanced into the southeast Bay of Bengal, Andaman and Nicobar Islands, and north Andaman Sea on May 12, almost 8 days in advance.
Short trips can be made to interesting places at 15-20 per cent lower prices.
Rain gods smiled on Punjab, Haryana, Rajasthan, Himachal Pradesh and some other places in the northern belt, which had witnessed only patchy rainfall since the advent of the monsoon late June.
While news on the monsoon front remains bleak (rainfall during June 1 to 17 was 45 per cent below normal), water levels in reservoirs across the country are dwindling, Citi economist Rohini Malkani said on Monday. Earlier this month, Citi revised its FY'10 GDP forecast for India to 6.8 per cent from 5.5 per cent and it raised its view to 7.8 per cent from 6.6 per cent for FY'11 on the back of election results and higher investment growth.
Ending a long wait, monsoon showers lashed the capital on Friday after a delay of eight days, bringing relief from the scorching heat but creating chaos. The evening rains exposed the claims of city government and civic bodies about desilting the drains as water-logging was reported from across the city and officials sought to put the blame on each other.
Meanwhile, flight operations from the Kochi international airport will resume at 12 noon on Sunday, an airport official said.
Monsoon's first spell in Delhi early Friday inundated the most posh areas of the city alike, including the Lutyens' Delhi which is home to several ministers and MPs, giving them a hard time reaching Parliament for the 18th Lok Sabha session.
A water crisis looms large over the capital city of Himachal Pradesh with heavy rains in the past few days damaging supply schemes and causing silt in water resources.
Gold prices this year are higher than last year, and the goods and services tax is an additional burden for consumers
The method is based on a network analysis of regional weather data.
For the first time in three decades, Nungambakkam, a core city area recorded 8 cmin a single day and suburban Red Hills 13 cm followed by 12 cm in Perambur, also in the city.
Waterlogging was reported in Andheri, Kurla, Ghatkopar, Chembur and some other places.
Weak monsoon rains could have a negative impact on India's automobile sector which is seeing early signs of improvement with the sale of passenger cars and utility vehicles rising in May.
There could be occasional gusty winds reaching 40-50 kmph as per the weather bureau's prediction.
With almost one third of the season over, rainfall until, last week was 23 per cent below the 50-year average.
There are chances of taps running dry and prices of fruits and vegetables spiking.
A senior railway official noted that waterlogging at the new location between Bhandup and Nahur led to the suspension of local services on the Main Line from 5:15 am.
Weather watchers said it can't be known till May whether El Nio will impact the monsoon or not.
Iron ore mining major NMDC's results for the April-June quarter (Q1) of FY25 were better than estimates. Weak volumes were balanced off by higher realisations, better average selling price (ASP) and lower royalties which boosted bottomline. The revenue was in line with estimates at Rs 5,400 crore, flat year-on-year (Y-o-Y) and down 17 per cent quarter-on-quarter (Q-o-Q).
