India suffers driest June in 5 years, fears for crops and economy

Agencies
July 1, 2019

Mumbai, Jul 1: India had its driest June in five years due to a delay in monsoon rains, the weather department said late on Sunday, raising fears for crops and the broader economy.

Overall, rains were a third below average, although in some states, including the sugar cane growing northern state of Uttar Pradesh, they were as much as 61 per cent down, data from the India Meteorological Department (IMD) showed.

Over half of country's arable land relies on rainfall, while agriculture makes up about 15 per cent of Asia's third-largest economy, which is already suffering a slowdown.

The monsoon usually covers nearly the entire country by July 1, but has covered less than two-thirds so far this year, according to the IMD data.

If the rains don't improve over the next two to three weeks, the country could face a crisis that hammers harvests and rural demand, analysts said. Companies supplying farmers with everything from tractors to consumer goods would be vulnerable.

The country is still recovering from a drought last year that ravaged crops, killed livestock, emptied reservoirs and drained water supplies to city dwellers and some industries.

Rains first arrived in Kerala a week late on June 8, but the developing Cyclone Vayu in the Arabian Sea drew moisture from the monsoon and weakened its progress.

Cotton, soybean and pulses growing western and central parts of India are likely to get good rainfall in the first half of July, but rains could be below average in northern India, said an IMD official, who declined to be named as he was not authorized to speak with media.

In the second half of July rainfall in north-western India could improve, but rains in central and western India could be subdued, the official said.

Overall, India faces below average rainfall in July but the deficit is likely to be far smaller than June's 33 per cent, he said.

In 2014, we received 42 per cent less rainfall in June and ended the June-Sept monsoon season with rains 12 per cent below average.

The weak start to the monsoon has delayed planting, with farmers sowing crops on 14.7 million hectares as of June 28, down almost 10 per cent on a year earlier.

For 2019, the IMD in late May forecast average rainfall, while private forecaster, Skymet, has predicted below-normal rainfall.

A normal, or average, monsoon means rainfall between 96 per cent and 104 per cent of a 50-year average of 89 cm during the four-month monsoon season, according to the IMD's classification.

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News Network
March 23,2020

Singapore, Mar 23: Oil prices fell at the open in Asia on Monday after a trillion-dollar Senate proposal to help the coronavirus-hit American economy was defeated and death tolls soared across Europe and the US.

US benchmark West Texas Intermediate initially tumbled more than three percent but then pulled back some ground to trade 1.5 percent lower, at $22 a barrel.

Brent crude, the international benchmark, fell 4.9 percent to $25 a barrel.

Prices have fallen to multi-year lows in recent weeks as lockdowns and travel restrictions to fight the virus hit demand, and top producers Saudi Arabia and Russia engage in a price war.

The latest drop came after a trillion-dollar Senate proposal to rescue the US economy was defeated after receiving zero support from Democrats, and with five Republicans absent from the chamber because of virus-related quarantines.

The bill had proposed funding for American families, thousands of shuttered or suffering businesses and the nation's critically under-equipped hospitals.

Coronavirus deaths soared across Europe and the United States at the weekend despite heightened restrictions.

The death toll from the virus -- which has upended lives and closed businesses and schools across the planet -- surged to more than 14,300 Sunday, according to an AFP tally.

AxiCorp chief markets strategist Stephen Innes said that "total demand devastation" had set it.

"Oil markets collapsed out of the gate this morning as prices react... to stringent containment lockdown measures," he said.

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News Network
April 26,2020

New Delhi, Apr 26: Medical services at Babu Jagjivan Ram Hospital in Jahangirpuri area have been closed and the hospital is being sanitised after 44 staff members including doctors were tested positive for COVID-19, Delhi Health Department said on Saturday.

"Total 44 staff members including doctors at Babu Jagjivan Ram Hospital in Jahangirpuri area of Delhi have tested positive for COVID-19. Test reports of other staff members are awaited. Hospital's medical services have been closed and the hospital is being sanitized," Delhi Health Department said.

Earlier today, Delhi Health Minister Satyendar Jain informed that there are 2,625 coronavirus cases in Delhi, out of which 111 were reported yesterday.

The total number of active cases in the national capital stands at 1,518 while 869 people have recovered so far, the minister further informed. There have been 54 deaths in the national capital, as per the Union Health Ministry.

A total of 26,496 confirmed cases of COVID-19 have been reported in India, including 19,868 active cases, the Ministry of Health and Family Welfare said on Sunday.

824 people have lost their lives due to the infection in the country.

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News Network
February 2,2020

New Delhi, Feb 2: The Congress on Sunday released its manifesto for Delhi polls, promising to implement unemployment allowance of Rs 5,000-7,500 per month and cashback schemes for water and power consumers, if voted to power.

Presenting the manifesto, Delhi Congress chief Subhash Chopra said the party will provide free power up to 300 unit per month.

The manifesto also committed to spend 25 per cent budget each year on fighting pollution and improving transport facilities.

An unemployment allowance of Rs 5,000 for graduates and Rs 7,500 for post graduates per month will be provided under the Yuva Swabhiman Yojna, he said.

The Congress will launch flagship cashback schemes for power and water supply to benefit consumers saving these resources. The party, if voted to power, will open 100 Indira Canteens to provide subsidised meals at Rs 15, Chopra said.

The Congress will challenge the Citizenship Amendment Act (CAA) in the Supreme Court and demand the Centre to withdraw the law. The party will also not implement the National Register of Citizens (NRC) and the existing form of the National Population Register (NPR), if voted to power in Delhi.

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