The comments came after Indian Finance Minister Arun Jaitley warned of tough measures in his first budget on July 10, saying 'mindless populism' needs to be checked as India aims to boost growth.
The Congress leader also handed over relief material to affected people.
This piece of forecast from the India Meteorological Department and the European Centre for Medium-Range weather Forecasts may bring cheer to Indian farmers
Rajan had overturned the majority opinion of the members and chose to hold the rates at the last monetary policy review in October.
RBI Governor Raghuram Rajan is expected to express that cautiousness as he looks to manage expectations.
A head of its meeting, the Reserve Bank of India (RBI) can take some solace from the softening food commodity prices. However, the events surrounding the last few weeks show that the fall may not be uniform across all commodities, and cereals like wheat and rice could be the outliers. A Reuters report said that local wheat prices jumped to a record Rs 23,547 per tonne on Wednesday. That is a 12 per cent rise from the recent lows that followed the government's surprise ban on exports on May 14.
Helicopter Pilot Wing Commander Deepika Misra rescued 47 people in an operation that lasted 8 days in flood-ravaged Madhya Pradesh.
Overall, this is one of the best monsoon India has had in five years with the rain deficit at just 2 per cent. However, in East and the Northeast India, the overall rainfall deficit is as high as 21 per cent.
Senior officials, including those from a central team, were present during the night-long operation and a close vigil is being maintained on further movement of locusts, Katiyar said. Two fire brigade vehicles loaded with insecticide had been deployed in all four Jhansi tehsils besides six vehicles were kept ready at the district headquarter. Ten municipal employees with two insecticide spraying machines were posted in every block.
Modi's irrigation push in the Budget is aimed at scoring on the political front along with achieving growth targets
Life in Mumbai was on Wednesday slowly coming back on tracks as rains subsided and hundreds of stranded commuters headed home with the partial resumption of suburban train services.
Large stocks were ruined in transit due to thunderstorm and rainfalls in the north and the north-east states, resulting in fewer kilos of potatoes at mandis.
Till Thursday, the country had received 41 per cent less June rainfall than normal - the scantiest in a decade and one of the rarest occasions when the shortfall in the month was more than 30 per cent - private weather forecaster Skymet said in its daily weather forecast on Friday.
Rajasthan is beautiful in the monsoons. The desert blooms with patches of green, the blues and yellows become more pronounced and the water bodies fill up to the brim.
In another forecast for August, IMD Director General Mrutunjay Mohapatra said monsoon is also likely to be normal in the month.
Monsoon woes gripped several parts of north India today as heavy rains wreaked havoc in the hill states of Uttarakhand and Himachal Pradesh, leaving over 50 people dead and hundreds stranded, while several parts in Haryana were flooded after water level of Yamuna rose alarmingly.
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An El Nino is a temporary change in the climate of the Pacific Ocean, in the region around the equator.
Gold imports are likely to fall below 50 tonnes this month due to sharp fall in exchange rate of rupee and high global prices of the precious metal, according to market experts.
'...that it takes fantasy seriously as a part of real life'... A fascinating excerpt from Jonathan Gil Harris's book, Masala Shakespeare: How A Firangi Writer Became Indian.
In a minor relief for residents of flood-hit Chennai, the rains have stayed away for the last few hours.
Retail inflation has eased from double digits in 2013.
The latest official numbers on the price of agricultural produce gives an idea of what's fueling the farmers' protest in Delhi.
Work hard, earn more, save well, invest wisely and love your money. But, love yourself first!
The forecast for better rains this seasons comes after India witnessed one of the worst droughts in recent times when the monsoon had failed last year.
Former India captain and CAB president, Sourav Ganguly, is working overtime to get everything in order at Eden Gardens, which is set to host the country's first pink-ball multi-day cricket match under lights. With drone flying over him under the dazzling Eden floodlights, the iconic lefthander was seen shooting promotional with the pink Kookaburra. "Eden Gardens will hold the first day-night (four-day) match in India. It has given us many moments to celebrate, now it's getting ready to host yet another moment to remember," Ganguly said in the promotional. Later talking to media, Ganguly, who is also the BCCI technical committee chairman, said, "Pink ball is the future... This will be the ultimate form of Test cricket. What will be the use of doing something which will have little interest left."
Consumer goods companies remain hopeful of good rainfall this year despite the prediction of a possible drought-causing El Nino weather phenomenon in August-September.
'It is the most prone month for the development of cyclones in the pre-monsoon period.'
Tomorrow's review could also turn out be the last policy anchored by Rajan if the proposed Monetary Policy Committee (MPC) is put in place before the next review due on August 9.
Skymet is credited with correctly predicting the 2009 drought.
Though agriculture ministry officials are confident of a bumper harvest due to record increase in kharif acreage, experts and farmers said the on-ground situation in some crops is not that encouraging as incessant rains since the last few weeks and pest attack could impact the final yield.
'There are occasions when the prices of individual items like food raise inflation; then supply-side measures must be taken.' 'But if there is continued inflation, it means liquidity is aggravating the situation.'
Benchmark 10-year bond yields hit a 13-month peak as bond traders priced in more aggressive monetary easing next year.
Top gainers in the Sensex pack included Bharti Airtel, Tata Motors, IndusInd Bank, Kotak Bank, Hero MotoCorp, Asian Paints and PowerGrid, which rose up to 2.53 per cent.
The breadth, indicating the overall health of the market, turned negative. On the BSE, 1,581 shares declined and 1,246 shares fell. A total of 165 shares were unchanged.
Gold discounts in India, the world's second-biggest consumer, widened this week as dealers struggled to offload stocks amid sluggish demand.
Retail tomato prices are ruling at Rs 80 per kg in most cities across India but the rates have shot up to as high as Rs 120 per kg in few southern states because of widespread rains, according to government data. In Chennai, retail price of tomato was at Rs 100 per kg, Puducherry Rs 90 per kg, Bengalure Rs 88 per kg and Hyderabad Rs 65 per kg. In Kerala, retail prices of tomato are ruling at Rs 120 per kg in Kottayam, Rs 110 per kg in Ernakulam, Rs 103 per kg in Tiruvananthapuram, Rs 100 per kg in Palakkad, Rs 97 per kg in Trissure, and Rs 90 per kg in Wayanad and Kozikode.
RBI will be cautious easing rates further given oil price uncertainties
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The India Meteorological Department (IMD), for the first time, officially hinted at a drought-like situation, saying the southwest monsoon over India in 2012 is likely to be deficient at below 90 per cent of the Long Period Average (LPA).
Developers often quote high prices but they would be more than willing to give discounts.
