said Mahesh Palawat, Chief Meteorologist, Skymet Weather Services
In FY16, when the downturn had hit both the domestic and exports market, Shakti Pumps was operating at 45 percent capacity utilisation. Now, its turnaround story is clearly visible in recent quarters. There is also more headroom in terms of growth and benefits of operating leverage.
The Met department has predicted the onset of the monsoon in Kerala on May 30, but the seasonal rainfall may arrive a day earlier.
Going forward, normal monsoon is expected to provide the requisite boost to demand, while transition to GST regime is likely to create some disruption and impact the short-term sales volume across businesses.
Interview with Kamlesh Rao, MD, Kotak Securities
Foodgrain production is estimated to be all-time high at 273.38 million tonnes (MT) in the current 2016-17 crop year (July-June) on account of good rains after two years of drought, as against 251.57 MT last year.
Rains accompanied by dust storm and thunderstorm lashed the national capital, as lowered temperatures provided much- needed relief to the people after days of blistering heat.
India looks likely to receive higher monsoon rainfall than previously forecast as concern over the El Nino weather condition has eased, K.J. Ramesh, director general of the state-run India Meteorological Department, told Reuters last week.
The state-run India Meteorological Department on April 18 forecast this year's monsoon rains at 96 percent of the 50-year average of 89 cm.
The prospects of the monsoon have brightened because of the reduction in the likelihood of El-Nino, IMD Director General K J Ramesh said.
"We assessed 96 percent based on the climatological conditions up to March. Now, conditions are becoming favourable for an improvement over our April 18 estimate," K.J. Ramesh, director general of the state-run IMD said.
While the Met department had predicted a normal monsoon, Union Agriculture Minister Radha Mohan Singh has written to chief ministers asking them to review their ability to deal with drought-like conditions.
In the national capital, the mercury crossed the 44- degrees mark at many places.
India Meteorological Department (IMD) yesterday issued its first forecast for the monsoon indicating a normal monsoon this year.
Another normal monsoon along with increased allocation of the government on rural development, farm loan waiver and social housing could further accelerate rural recovery, CLSA says.
In an interview with CNBC-TV18, S Sivakumar, Group Head-Agriculture & IT Business at ITC spoke about the latest happenings in his company and sector.
Despite big strides in industry and services, two-thirds of Indians depend on farm-based income. Nearly 60 percent of the country’s farms lack irrigation facilities, leaving millions of farmers dependent on the rains.
Monsoon rains in 2017 would be 96 percent of a long-term average, K. J. Ramesh, director general of the state-run India Meteorological Department, told a news conference.
The June-September monsoon is likely to be is likely to be 96 percent of the long-period average, the Met department said on Tuesday, a forecast that will be cheered by millions of farmers and the government alike.
In its first bi-monthly monetary policy of 2017-18, it said several indicators are pointing to a modest improvement in the macroeconomic outlook. These include record production of foodgrains and pulses and recovery in industrial output on the back of turnaround in the manufacturing sector.
Main focus of the monetary policy is on liquidity and further action depends on whether RBI thinks liquidity is permanent or transitory, Sonal Varma, MD & Chief India Economist at Nomura Financial Advisory & Securities (India) said.
Tax rates on automobiles in the upcoming GST and monsoon will be crucial factors which will influence the rate of growth of the industry in the new fiscal, according to Toyota Kirloskar Motor.
Equities attracted net inflows during the just concluded financial year. Debt instruments, on the other hand, took a big hit after remaining preferred investment avenue for foreign funds in recent years.
Rating agency Care today said it expects GDP growth to accelerate to 8 percent next financial year and flagged monsoon as the only area of concern that may scupper this.