IMD predicts 'normal' monsoon despite likely El Niño
El Niño conditions are likely to develop over the equatorial Pacific Ocean, says IMD.
El Niño conditions are likely to develop over the equatorial Pacific Ocean, says IMD.
In June, normal or above normal rainfall is most likely over many parts of northwest and central India, northern parts of south peninsula and some parts of east India.
India receives about 75% of its annual rainfall during the southwest monsoon season.
It is the time of the year to start chasing dark clouds over the Arabian Sea. Normal rains will offset the demand recession induced by the pandemic and wash away a lot of the country’s woes.
The central bank unveils liquidity facility of ₹50,000 crore for access to emergency health services, and ₹10,000 crore for small finance banks’ on-lending, among a slew of measures to fight Covid-19.
The extension, which takes the total day-count of the lockdown to 54, will add to the challenges that the economy was already facing before Covid-19 took the shape of a pandemic.
While directly mum on inflation and growth, the RBI’s latest monetary policy report warns that Covid-19 would impact economic activity in India through lockdowns and slowing global trade and growth.
The passenger vehicle segment saw the steepest fall as the festive season and discounts failed to revive sentiments.