The Reserve Bank on Monday pitched for creation of a conducive environment for investment and faster clearances of projects to boost economic growth which slowed to a decade low of 5 per cent in the previous fiscal.
The national capital received heavy precipitation resulting in waterlogging on several roads and traffic jams at various intersections.
Today, with the Lok Sabha polls only months away, any inter-state dispute over the Cauvery water dispute has the potential to take more political turns than otherwise, predicts N Sathiya Moorthy.
A sudden downpour in Delhi caught citizens off guard and caused heavy waterlogging and traffic jams on Tuesday while Mumbai breathed a sigh of relief as showers stopped a day after heavy rain brought the metropolis to its knees.
Rainfall in August is predicted to be below normal (less than 94 per cent of LPA), but the situation is expected to improve comparatively in September, the IMD said.
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The RBI said lead indicators point to continuing sluggishness in domestic economic activity in the first quarter of 2014-15.
He indicated his conviction will remain firm even if that "uprising" ultimately puts the party he faithfully served for 13 years in the dock.
On food inflation, RBI said it is likely to soften from the high levels registered in December and the decline is expected to become more pronounced during the fourth quarter of this fiscal as onion prices ease following arrivals of late kharif and rabi harvests.
"The main risk stems from the uncertainty surrounding the outcome of the south west monsoon in view of the rising probability of an El Nio event around July-August, and its implications for food inflation," RBI said, as it kept the status quo on key interest rate for the third time in a row.
A peek into the life of a public-sector banker who did well professionally, but paid a price for it, points out Tamal Bandyopadhyay.
The Reserve Bank of India on Friday raised the retail inflation forecast for 2021-22 to 5.7 per cent due to supply side constraints, high crude oil and raw materials cost. The RBI in June had pegged the retail inflation estimate at 5.1 per cent for the current financial year. The RBI has the mandate to keep inflation in a band of 2-4 per cent, with a tolerance level of 2 per cent on either side.
This may rescue pulses, cotton and oilseed sowing; rain revival in the south to take longer
Analysts said the demand recovery in two-wheeler and car segments was skewed towards the semi-urban and rural markets.
'We are not saying we are going to face a drought... We are a doing and performing government. A contingency plan is being prepared,' Science Minister Dr Harsh Vardhan tells Rediff.com
Reserve Bank-sponsored professional forecasters on Monday scaled down India's growth projection to 4.8 per cent for the current fiscal from 5.7 per cent estimated earlier.
The chief secretary said that as the state is witnessing heavy rains over the last three days, the collectors should be on high alert and take all steps to prevent loss of life, cattle or damage to any property.
Rediff.com brings you monsoon images from across the country
Crops including fruit, vegetables account for 60% of GDP in agriculture, forestry, fishing sector.
'People should realise that what we are fighting for today is actually for tomorrow, for future generations.'
The weather department has said that the skies are expected to be partly cloudy for the next few days in Delhi.
Above-normal heatwave days are predicted in most parts of central, east and northwest India during this period.
The national capital has been witnessing an incessant spell of light to moderate rain for the past two days.
'It is the most prone month for the development of cyclones in the pre-monsoon period.'
The decisive election victory for the Narendra Modi-led National Democratic Alliance has created a conducive environment for policy actions and should help in economic recovery, Reserve Bank of India Governor Raghuram Rajan said on Tuesday.
Softening inflation, Das said would make available more policy space to the central bank to address risks to the growth going forward.
The avoidable stresses and strains in ties helped in one way. It showed for the entire region how a matured India handled diplomatic relations, especially with a smaller and suspicious neighbour, with practised dignity and patience, unruffled by provocations in word, deed and action, observes N Sathiya Moorthy.
With another quarter of steady growth in demand, cement companies are expected to report strong year-on-year (Y-o-Y) growth in earnings, according to analysts. The September quarter (Q2FY24) also witnessed a resumption of price hikes in certain markets. UltraTech Cement, India's largest cement producer, reported a 15 per cent Y-o-Y increase in cement sales in the country for the quarter under review.
In another forecast for August, IMD Director General Mrutunjay Mohapatra said monsoon is also likely to be normal in the month.
One of the high points of the proceedings was when Indrani Mukerjea's lawyer smartly utilised Dr Zeba Khan's expert status to pose her A Most Curious Question. He asked her if a skull can grow new teeth, even after the person, who it belonged to, had died, three years before. We can be sure that the discrepancy between the number of teeth discovered in the skull unearthed in 2012 and the skull shown in court in September 2019 will come up soon in Courtroom No 51. Vaihayasi Pande Daniel reports from the Sheena Bora Murder Trial.
India now faced a higher likelihood of a drought in some parts, as monsoon rain would be less than predicted in April, private weather forecaster Skymet said on Friday.
The Reserve Bank's rate-setting panel, Monetary Policy Committee (MPC), began its three-day deliberations on Wednesday amid expectations of a status quo on benchmark rate mainly on account of uncertainty over the impact of the second wave of COVID-19 pandemic. Moreover, the fears of firming inflation may also refrain the MPC from tinkering with the interest rate in its bi-monthly monetary policy outcome to be announced on Friday. The RBI had kept key interest rates unchanged at the last MPC meeting held in April.
Sales of refrigerators were higher this year versus last year.
Waterlogging was reported in Andheri, Kurla, Ghatkopar, Chembur and some other places.
In the coming months, globally as well as in India, rice might remain a hot potato.
Of all the pulses, tur appears to be the most desired.
Rajan also said the outlook for agriculture is subdued, in view of both rabi and kharif prospects being hit by monsoon vagaries.
The rainfall in July was minus seven per cent which comes to around 93 per cent of the Long Period Average, IMD Director General Mrutyunjay Mohapatra said.
The IMD had said the Southwest Monsoon would hit parts of north India including Delhi on July 10, but it had not occurred till Sunday evening.
They are actively engaging with the party leadership for the past some time but the party is yet to take a call, the sources said, adding the MPs include one from the north of the country and one from south.
Incessant showers lashed Mumbai and its neighbouring areas on Wednesday morning, leading to flooding in many low-lying areas and traffic snarls on roads, officials said.
