At around 3 pm on Wednesday, India's daily peak power demand touched 220 gigawatts (Gw)-the highest daily peak ever in the history of the country. The ministry of power in its estimates had projected country's power demand to cross touch 220 Gw during the months of April-June. With a cooler April due to unseasonal rains, the peak shifted to May.
The 30-share Sensex ended higher by 177.46 points at 28,885.21 and the Nifty gained 63.90 points at 8,778.30.
Analysts expect the Reserve bank to cut rates in next monetary policy.
Monsoon is likely to be below normal in the current year at 93%.
The accident occurred when the private boat 'Ma Kamala' was headed to Majuli from Nimati Ghat and the government-owned ferry 'Tripkai' was coming from the riverine island.
India's economy continues to be robust, but downside risks such as rising crude oil prices, adverse weather conditions, and the global banking crisis outweigh the upside potential in gross domestic product (GDP) growth in the current financial year (FY24), the finance ministry said on Tuesday in its Monthly Economic Review for March. "We reiterate that downside risks to our official forecast of 6.5 per cent for real GDP growth in FY24 dominate upside risks," the review said. "Opec's surprise production cut has seen oil prices rise in April, off their lows of low-seventies per barrel in March.
Monsoon in August was almost 24 per cent below normal, which was the sixth driest August since 1901. It came on the back of a 7-per cent monsoon shortfall in July.
RIL was the biggest gainer in the Sensex pack, rising 2.63 per cent, followed by NTPC, Axis Bank, Tata Steel, PowerGrid, HDFC twins, Bharti Airtel, M&M, ICICI Bank, SBI and Bajaj Finance -- gaining up to 2.51 per cent.
The last few years have been uncharacteristically good for the Indian sugar sector for a variety of reasons. While on the one hand, the weather supported good crop production; on the other hand, the programme to blend ethanol with petrol took off in a big way. The long-pending problem of burgeoning sugarcane arrears almost came down to nil and exports boomed to record highs.
A fresh spell of heatwave is likely to begin over northwest India from May 7 and over central India from May 8, the India meteorological department said on Thursday.
A number of significant linkages between rainfall and economic outcomes have policy implications.
Mongolia can take a lifetime to happen but rewards the intrepid traveller with enduring memories of a surreal, delightful land.
The human toll in the floods and relentless rain across the country reached almost 200 by Thursday, even as thousands in Gujarat, Rajasthan, Assam, Odisha, West Bengal, and elsewhere were forced out of their homes into temporary shelters.
At present, India has an installed power generation capacity of over 1,51,000 MW, according to the data available on the ministry's website. Of this, hydel-power accounts for over 36,916 MW or nearly 25 per cent.
Poor rainfall in rain-dependent central and southern India in the next three weeks could affect agricultural GDP growth in the coming season, a report by broking firm Motilal Oswal has said.
'Till such time climatic activities resume up north in the plains and the hills, Mumbai's air quality may not improve.'
In just 10 days, the city received 864.5 mm rain, which is nearly equal to what it gets in an entire month.
A five-seven per cent agriculture growth in 2013-14 would mean farming might exceed the 12th Five-Year Plan annual growth target of four per cent, if the trend continues.
More than 39.8 lakh people in 27 of the 33 districts in the state were affected by the deluge on Thursday.
Although demonetisation and improper implementation of GST along with falling prices are being blamed for much of the distress in rural India for some time, experts believe those may not be the only reason.
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The government on Thursday imposed a 20 per cent export duty on non-Basmati rice except for parboiled rice to boost domestic supplies amid a fall in area under the paddy crop in the current Kharif season. According to a notification by the revenue department, an export duty of 20 per cent has been imposed on 'rice in husk (paddy or rough)' and 'husked (brown) rice'. The Central Board of Indirect Taxes & Customs further said the export of 'semi-milled or wholly-milled rice, whether or not polished or glazed(other than Parboiled rice and Basmati rice)' will also attract a customs duty of 20 per cent.
The festival season has already begun in the west and south of India with Ganesh Chaturthi and Onam, respectively, and consumer companies are witnessing a pick-up in sales compared to pre-Covid levels. Retailers, fast-moving consumer goods (FMCG) and consumer durables companies expect their sales to grow in double digits this festival season compared to pre-pandemic times, as there are no curbs on movement now. Adani Wilmar expects sales volume to be higher by 15-20 per cent as rural India has largely witnessed good monsoon rains, and employment has picked up in urban areas.
A peek into the life of a public-sector banker who did well professionally, but paid a price for it, points out Tamal Bandyopadhyay.
These kinds of assumptions to be used for a nation of India's size and "to put us in poor light is not desirable"
Poor rain threatens recovery in production this season, sugar prices at three-month high
Schools and colleges are set to reopen on Monday in three adjoining districts of Chennai, Kancheepuram and Thiruvallur after remaining closed for nearly ten days in view of the monsoon fury.
The current spell of weak monsoon over the country is likely to continue for the next five days, the India Meteorological Department (IMD) said on Wednesday.
Incumbent DMK MP T Sumathy alias Tamizhachi Thangapandian will face-off former Telangana Governor and BJP leader Tamilisai Soundararajan, while the the AIADMK has fielded ex-MP Dr J Jayavardhan, who won from here in 2014.
Besides, another 350-odd flights -- both arriving and departing -- were delayed between 28-51 minutes (till 7 pm), as per the live flight tracking website Flightradar24.
Cyclone 'Biparjoy' has an extensive damaging potential and it is likely to impact Kutch, Devbhoomi Dwarka and Jamnagar districts of Gujarat the most, the India meteorological department said on Tuesday.
Sales of refrigerators were higher this year versus last year.
It could add to pressure on inflation, especially food inflation, which was already high, it said.
A stretch about 50 metres long on the Rishikesh-Badrinath National Highway near Pursari village is showing signs of land subsidence with cracks appearing on it.
Auto stocks led the rally with Tata Motors, Hero MotoCorp and Maruti Suzuki leading the gains.
The Monsoon Session of the Lok Sabha was adjourned sine die on Friday after 19 sittings that saw the passage of 14 legislation while Rajya Sabha came to an end after passing nine bills.
The India Pulses and Grains Association estimates production of kharif pulses at seven mt this year.
The Australians are struggling against India's new spin duo of Kuldeep Yadav and Yuzvendra Chahal and the hosts would like to ensure that it doesn't get any easy as the series progresses.
Tamil Nadu Chief Secretary said the flooding was caused by heavy rains in Chennai, Kanchipuram and Tiruvallur districts.
