The heavy rain wreaked havoc across the city, crippling normal life, flooding roads and houses in many localities and dampened the 70th Independence Day celebrations in the state capital.
Higher imports by the world's second biggest consumer will support global prices, which are trading near their highest level in two months, but could widen the country's trade deficit.
The sales are expected to grow in the range of 9-11 per cent at a compounded annual growth rate (CAGR) over the next five fiscals.
The consumer price index likely rose 1.87 percent last month, after dipping to an historic low of 1.54 percent in June, according to the median forecast of nearly 30 economists.
According to the IMD, rainfall over the country during the remaining two months of the monsoon season (August and September) is likely to be 100 per cent of the Long Period Average (LPA) with a model error of plus or minus 8 per cent.
The state, which saw floods in Jalore and in parts of Barmer, Sirohi and Pali districts, received 367.83 mm rains against the normal rainfall of 290.89 mm from June 1 to August 6, which is 26.4 per cent higher, according to water resources department.
The monsoon season in India, considered lean for the travel industry, seems to be picking up gradually as it saw 27 per cent growth in holiday bookings in 2017, compared to last year, as per MakeMyTrip data
Watch the interview of M Mohapatra, Head Services at IMD with CNBC-TV18's Manisha Gupta, where he gave an update on the monsoon activity.
This year, July has seen a robust growth with the freight loading being at an all-time high for the month at 94.09 million tonnes, 4.75 million tonnes more than July last year, said a senior official of the ministry.
Sales had risen 18 per cent last fiscal year on good rains and despite note ban, after declining more than 10 per cent in 2015 and 2016 when the monsoons played truant, Crisil said in a report today.
Morgan Stanley Research has revised the headline CPI forecast for calender year 2017 to 3.1 per cent from 3.6 per cent earlier and for 2018 to 4.3 per cent from 4.6 per cent earlier.
Watch CNBC-TV18's Manisha Gupta give an update on monsoon.
Eight states including Assam, Arunachal Pradesh and Bihar have delayed the approval of project reports for flood control
Going by recent records, Indian monsoons are becoming increasingly unreliable.
Besides, HUL is looking up to its trade partners to soon attain "normalcy" post GST and is working closely with them to restore it.
"The Santacruz station of Mumbai IMD recorded 163 mm of rainfall, while Colaba registered 107 mm of showers in last 24-hours," IMD-Mumbai, director, Sunil Kamble told PTI today.
CNBC-TV18’s Manisha Gupta gives an update on monsoon.
Many believed that the government’s attempts in weaning people from gold were finally yielding fruit. But the euphoria could be short-lived.
Consumer price inflation is predicted to cool to 1.70 percent in June, easing further from May's 2.18 percent, according to the poll of more than 30 economists taken over the past week.
Cumulative monsoon rains have been 2 percent below average since the beginning of the rainy season in June until July 9, IMD said. However, recent rains have been heavier, as in the week to July 5, the seasonal showers were 21 percent above average, the IMD said.
The monsoon which arrived in the first week of June a little behind schedule, was weak during the month with Met department recording 11 per cent deficit compared to the last year.
Besides, a couple got trapped when a tree fell on their car following heavy rains in the city last night while a man was rescued from the rough sea waters at Colaba in the early hours today, police said.
Buildings which are declared dangerous are not fit for possession. Yet people continue to stay in these crumbling houses.
Heavy downpours were also reported from Assam, where the flood situation remained unchanged with more than one lakh people affected in eight districts as five rivers flowed above the danger level.