Monsoon will hit the Kerala coast on June 1, setting the stage for the four-month annual rainfall season crucial for India's agriculture-based economy. "The date of onset of the southwest monsoon over Kerala is likely to be on June 1 with a model error of four days," the India Meteorological Department announced on Tuesday.
'Usually the average rainfall per day is around 8 mm and India is receiving 10 to 11 mm per day since the last one week.' 'July seems to be very good for the entire country.'
From the Sensex firms, Power Grid, NTPC, Tech Mahindra, Bharti Airtel, Tata Motors, IndusInd Bank, Reliance Industries, Kotak Mahindra Bank and Maruti were among the laggards. Asian Paints, Wipro, JSW Steel, Hindustan Unilever, Bajaj Finserv and Mahindra & Mahindra were among the biggest gainers.
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.
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Riding on a bull run, equity investors became richer by Rs 128.77 lakh crore in the 2023-24 fiscal, driven by robust fundamentals of the Indian economy, increased investment inflows and promising corporate earnings. After a muted performance in 2022-23, equity markets made a remarkable recovery in FY24, giving handsome returns to investors. The 30-share BSE Sensex climbed 14,659.83 points or 24.85 per cent in 2023-24.
Bijoy Venugopal takes a long, wet drive through the hills of Tamil Nadu to meet the monsoon on its way out.
The industry expects Iran to purchase at least 1 million tonnes this financial year
Readers share their best monsoon memories.
Steady progress in June; north and central regions to get good pre-showers
For the Stalin government to win back the confidence of voters ahead of the Lok Sabha polls, post-flooding restoration works, their speed and efficacy would be closely watched, and not just by the political Opposition, notes N Sathiya Moorthy.
Against the Reserve Bank of India's (RBI's) projection of 7.1 per cent, India's first quarter (Q1) 2024-25 (FY25) gross domestic product (GDP) growth came in at 6.7 per cent. This is in line with market expectations and significantly lower than the 7.8 per cent recorded in the fourth quarter (Q4) 2023-24 (FY24) and 8.2 per cent in Q1FY24. The quarter witnessed decreased government consumption and investment spending due to the parliamentary election.
After a making a slow progress, the southwest monsoon is expected to gain momentum and advance further into several parts of drought-hit Maharashtra and central India.
The study revealed that the rise in temperatures leads to a decline in the transmission of the virus.
Inundation caused by monsoon rains continued to trouble people here and in other parts of the state, while Chief Minister M K Stalin on Tuesday inspected rain battered areas and distributed assistance to the affected people.
Uttar Pradesh, Bihar, Jharkhand, Odisha and Gujarat, have been left out, despite a strong start to the monsoon in June
Fitch Ratings on Thursday retained India's growth forecast for the current fiscal at 6.3 per cent citing economic resilience despite tighter monetary policy and exports weakness, but upped year-end inflation projection on El Nino threat. The Indian economy grew 7.8 per cent in the April-June quarter of current fiscal on strong services sector activity and robust demand. "The Indian economy continues to show resilience despite tighter monetary policy and weakness in exports, with growth outpacing other countries in the region," Fitch said, while projecting 6.3 per cent growth for current fiscal (April-March), and 6.5 per cent for next fiscal.
According to experts, slopes in Himachal have become highly vulnerable to landslides due to cutting of rocks at the foothills and the lack of proper drainage system, and high intensity rainfall is making the things worse for the state.
With sales of cooling products turning out dismal this summer due to unseasonal rains, the stocks of related companies are now off their March highs. Shares of fan and air conditioner makers such as Voltas, Symphony, Orient Electric, Johnson Controls-Hitachi Air Conditioning and Crompton Greaves are down 5-23 per cent since March when the summer season saw a firm onset. In comparison, the BSE Sensex index is up 10 per cent.
Consumer goods firms and auto companies are witnessing an upturn in rural demand, which had been lagging for most of FY24. Expectations of a bumper rabi crop harvest have helped turn the tide. The Reserve Bank of India's (RBI's) Monetary Policy Committee kept the repo rate unchanged last week, noting that as rural demand catches up, consumption is expected to support economic growth in 2024-25.
Gold seems to be losing its glitter in India due to a rise in prices. Demand in Q2CY24 was 149.7 tonnes - a 5 per cent drop compared to 158.1 tonnes in the same period last year, according to a report by the World Gold Council (WGC). Demand by value in April-June 2024 stood at Rs 93,850 crore, up by 14 per cent compared to Rs 82,530 crore in the same period last year.
The arrival of the wet season that is crucial to farmers in India.
The actor has many reasons to fall in love with the rains.
Tamil Nadu CM Jayalalithaa said the "unprecedented" northeast monsoon killed 470 people and nearly a lakh livestock besides damaging crops in over 3.83 lakh hectares.
vThe longest duration cyclone over the north Indian Ocean had developed over the Bay of Bengal and weakened over the Arabian Sea between November 8-23, 1977 with a life period of 14 days and six hours.
Southwest monsoon, the key to the agriculture driven trillion-dollar Indian economy, on Tuesday brought showers to Kerala bringing much-needed relief to farmers.
Elevated food price-led inflation could become a sore point for markets, which they seem to be ignoring at current levels, observe analysts. Retail inflation in India - as measured by the Consumer Price Index (CPI) - came in at a three-month high of 6.52 per cent in January 2023, compared with 5.72 per cent in December and 5.88 per cent in November 2022. The inflation print for February, according to Madan Sabnavis, chief economist at Bank of Baroda, will be critical for the Reserve Bank of India's monetary policy committee.
The monsoon this year in India was likely to be 'below normal' at 95% of LPA: Skymet
Prime Minister Modi last week called for optimal grain storage, fire audits and mock drills in hospitals as preparations for the harsh summer forecast by the meteorological department.
Sowing had started on a sluggish note in several parts of the country because of delay in the onset of the monsoon but has picked up pace subsequently as the rains progressed and performed appreciably well in August.
Shameem Akthar, yoga acharya trained with the Sivananda Yoga Vedanta Center, will take you through five practices that will see through this monsoon.
Retail inflation declined to a five-month low of 4.85 per cent in March mainly due to cooling food prices, inching towards the Reserve Bank's target of 4 per cent, according to official data released on Friday. The Consumer Price Index (CPI) based retail inflation was 5.09 per cent in February and 5.66 per cent in March 2023. Previously, CPI-based inflation was the lowest at 4.87 per cent in October 2023.
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.
The country also reported 1,750 deaths due to extreme weather events such as floods, cyclonic storms, heavy rain, landslides, lightning, among others, during the year, it said.
Skymet said September would be much better and it expects it to end at 111 per cent of the LPA
India recorded 125 extremely heavy rainfall events during September and October of 2021, the highest in five years, owing to late withdrawal of the southwest monsoon and higher-than-normal low-pressure systems, India Meteorological Department (IMD) said on Tuesday.
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This comes a day after the Uttar Pradesh government suspended six officials of civic agencies for alleged gross negligence following the road cave-ins and waterlogging at several sections of the newly-built Ram Path.
After a steady surge, prices of pulses, except those of urad and masoor to some extent, are showing signs of stabilising amid a revival of monsoon rains over major growing areas of Maharashtra and Karnataka, and on expectations of a rise in imports. Chana prices, which too had moved up in recent months, have dropped by almost 3 per cent since the end of August due to increased liquidation of government stocks, official data shows. Monsoon rains seem to have benefitted the standing soybean crop as well.
