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<ul><li><keyword id="20025925" type="General" weightage="20" keywordseo="auto-sales" source="keywords">Auto sales</keyword> in August 2024 recorded a month-on-month decline.</li><li>One of the reasons for the decline in sales was excessive rainfall in the country.</li><li><keyword id="20108734" type="General" weightage="20" keywordseo="FADA" source="keywords">FADA</keyword> has urged banks and NBFCs to tighten funding for dealers with excessive inventory.</li></ul>Auto sales in India experienced a significant decline in August 2024, primarily due to excessive rainfall during this monsoon season, according to a report by the Federation of Automobile Dealers Associations (FADA). The report highlighted a 7.01% month-on-month (MoM) decline in overall retail auto sales, falling from 20.34 lakh units in July to 18.91 lakh units in August. Despite this monthly decline in sales, the auto sector witnessed a modest 2.88% year-on-year (YoY) growth compared to August 2023. "India saw 15.9% <keyword id="22508938" type="General" weightage="20" keywordseo="excess-rainfall" source="keywords">excess rainfall</keyword>, with a significant surplus in key regions, disrupting auto retail performance," said a report by FADA. <h2>Decline in sales</h2>The report added that the two-wheeler (2W) segment, despite showing a 6.28% year-on-year growth, registered a 7.29% month-on-month decline. As per the report, market saturation and weather disruptions were the key factors behind the decline in two-wheeler sales. <div type="Article" hostid="261" msid="113016216" title="August auto sales – Maruti Suzuki, Tata Motors and others report a decline in sales" mstype="2" mssubtype="0"></div> In the passenger vehicle (PV) segment, there was a 4.53% YoY and 3.46% MoM decline, while the commercial vehicle (CV) segment recorded an 8.5% MoM and 6.05% YoY decline. FADA noted that weak industrial demand and weather-related challenges were major contributors to the significant drop in commercial vehicle sales. <h2>Inventory levels continue to be a challenge</h2>FADA also highlighted growing inventory challenges in the PV segment, with stock days ranging between 70-75 days, representing approximately 7.8 lakh vehicles valued at ₹77,800 crore. The report noted that these high inventory levels, combined with aggressive OEM dispatches have created cash flow pressures for dealers, impacting their profitability. "Dealers under pressure due to aggressive OEM dispatches, with dealers facing cash flow challenges and reduced profitability" the report said. <h2>FADA urges banks to tighten funding</h2>To address this, FADA has urged banks and NBFCs to tighten funding for dealers with excessive inventory. Additionally, the report emphasized the need for dealers and OEMs to recalibrate their supply strategies to avoid a potential inventory crisis. For the upcoming months, the report paints an optimistic picture with the festive season offering growth opportunities. However, it also noted that the auto retail market must navigate challenges posed by weather uncertainties and inventory management. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/india-beats-the-us-to-emerge-as-the-second-biggest-market-for-5g-smartphones/articleshow/113095322.cms">India beats the US to emerge as the second-biggest market for 5G smartphones</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-to-launch-on-september-9-design-specs-and-everything-we-know-so-far/articleshow/113091114.cms">Apple iPhone 16 to launch on September 9 – design, specs and everything we know so far</a> <a href="https://www.businessinsider.in/stock-market/webstories/shree-tirupati-balajee-agro-trading-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113082663.cms">Shree Tirupati Balajee Agro Trading IPO – Price band to risk factors, all you need to know</a>

FADA urges banks to tighten funding to dealers as rains play spoilsport in August

As the monsoon rains refreshes <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> while the nation cheers on its athletes in the ongoing Olympics, the skies above promise another natural spectacle that will captivate <keyword id="20400403" type="General" weightage="20" keywordseo="stargazers" source="keywords">stargazers</keyword>. This month, India will witness a rare <keyword id="20400402" type="General" weightage="20" keywordseo="celestial-event" source="keywords">celestial event</keyword>: a "double" <keyword id="21521139" type="General" weightage="20" keywordseo="meteor-shower" source="keywords">meteor shower</keyword> featuring both the <keyword id="22559089" type="General" weightage="20" keywordseo="Alpha-Capricornids" source="keywords">Alpha Capricornids</keyword> and the <keyword id="22406564" type="General" weightage="20" keywordseo="Southern-Delta-Aquariids" source="keywords">Southern Delta Aquariids</keyword>, peaking within 24 hours of each other. Meteor showers occur when Earth’s orbit intersects the path of a <keyword id="20023122" type="General" weightage="20" keywordseo="comet" source="keywords">comet</keyword>, causing rocky debris to burn up in our atmosphere. This month, Earth will pass through the orbits of comet 96P/Machholz and comet 169P/NEAT, giving rise to the Southern Delta Aquariids and Alpha Capricornids respectively. The Southern Delta Aquariids will peak on July 29-30, while the Alpha Capricornids will peak on July 30-31. Nicholas Moskovitz, a planetary <keyword id="22128353" type="General" weightage="20" keywordseo="astronomer" source="keywords">astronomer</keyword> at Lowell Observatory, notes that such close peaks of two meteor showers are "a little bit unusual" but not entirely uncommon. Observing them helps scientists understand comet behaviours and predict future meteor showers, which is crucial for the safety of spacecraft. <h2>Visibility in India</h2>Both meteor showers are expected to be visible in India, particularly in the southern regions and areas away from urban light pollution. For the best viewing experience, find a dark site, ideally in rural areas or hill stations. The Southern Delta Aquariids will produce around 20-25 meteors per hour at their peak, appearing as faint streaks that require dark skies to be seen. The Alpha Capricornids, while less frequent at about 5 meteors per hour, are known for their bright fireballs, making them more spectacular even in less than ideal conditions. <div type="Article" hostid="261" msid="112016039" title="Forget distant fly-bys of giant rocks—this plane-sized asteroid will come within 1.7 million km of Earth this week!" mstype="2" mssubtype="0"></div>To catch these celestial wonders, it’s recommended to watch the sky between midnight and dawn. Make sure to find a dark spot away from city lights, stay off devices to allow your eyes to acclimate to the dark. Be patient, lie back and scan the sky, focusing on areas away from the moon. It would also be wise to check the local weather forecast to ensure clear skies before heading out for any stargazing. Both showers will be most visible if you look towards the southern horizon. The meteors will appear to radiate from the constellations Aquarius (for the Southern Delta Aquariids) and Capricornus (for the Alpha Capricornids), but you should look away from these radiant points to see longer meteors streaking across the sky. <div type="Article" hostid="261" msid="111730212" title="Bengaluru-based Pixxel Space plans to mine asteroids for building settlements in space" mstype="2" mssubtype="0"></div>So, mark your calendars, prepare your night-sky essentials, and get ready to witness a <keyword id="22559088" type="General" weightage="100" keywordseo="double-meteor-shower" source="Orion">double meteor shower</keyword> that promises to be a highlight of the monsoon season. As athletes from around the globe compete for glory, the night sky will provide a universal display of nature's own fireworks.

India to witness a rare and mesmerising DOUBLE meteor shower on July 30!

<ul><li>14% <keyword id="59866" type="General" weightage="20" keywordseo="taxpayers" source="Orion">taxpayers</keyword> say they will not be able to meet the <keyword id="43355" type="General" weightage="20" keywordseo="deadline" source="Orion">deadline</keyword>. </li><li>70% surveyed said that they have already completed filing their income tax (IT) returns. </li><li>Taxpayers cite inability to file returns due to the effect of <keyword id="48088" type="General" weightage="20" keywordseo="floods" source="Orion">floods</keyword> in various parts of India. </li></ul>Revenue Secretary Sanjay Malhotra said last week that the possibility of extending the deadline for filing income tax returns for the financial year 2022-2023 beyond July 31, 2023, is unlikely. He advised taxpayers to expedite the process of filing their income tax returns before the mentioned deadline. However, according to community social media platform LocalCircles, 27% of individual income taxpayers surveyed are yet to file their FY2023 income tax returns. Moreover, 14% say they will not be able to meet the deadline. The surveyed have said that the delay in filing returns is primarily because India is grappling with the effects of heavy monsoon and floods in July, causing havoc in various regions. States like Assam, Himachal Pradesh, Uttarakhand, Telangana, Gujarat, Maharashtra, and Delhi NCR have been impacted by floods, landslides, and excessive rains, resulting in the displacement of thousands of people. The floods have led to power outages that last for hours and even days in some areas, disrupting the lives and work of many individuals. Based on the feedback from community discussions on LocalCircles, it appears that people are suggesting the Government to consider a two-week deadline extension for filing income tax returns. <cmsannotation type="cmsannotation" annotationid="Where do things stand, as per the survey" comment="subhead" text="Where do things stand, as per the survey">Where do things stand, as per the survey</cmsannotation> Out of over 12,000 respondents, one in four tax paying citizens admitted that they have not yet filed their income tax returns, as mentioned earlier. Out of these, 5% encountered difficulties but intend to try again before July 31, while 8% expressed confidence that they will comfortably file before the month-end. 9% stated it would be impossible for them to file before the deadline. This translates to approximately 14% of the respondents may likely be unable to meet the <keyword id="104359" type="General" weightage="20" keywordseo="income-tax-return" source="Orion">income tax return</keyword> deadline. Well, the clock is ticking.

One in four taxpaying citizen yet to file IT returns with 3 days to deadline

The power generation in first two months of the second quarter of current financial year rose marginally by 1.5 per cent on-year due to heavy rainfall during these months, <keyword id="105309" type="General" weightage="50" keywordseo="emkay-global-financial-services" source="Orion">Emkay Global Financial Services</keyword> said in a report. This was sharply lower than 16 per cent growth in the first quarter of the current financial year, which had the impact of low base due to Covid-19. August generation has been less than 1 per cent. On a 3-year CAGR basis, growth for the two months has been 3.5-5 per cent. "A closer look into the electricity demand pattern suggests that heavy rains during July-August 2022 (up 30 per cent <keyword id="63194" type="General" weightage="80" keywordseo="yoy" source="Orion">YoY</keyword>) might be the main reason for the same. Both residential and agricultural demand has high corelation to weather conditions. As the rainy season recedes, we believe growth in power demand will normalize to the medium-term figure of ~5 per cent," the report said. <keyword id="209265" type="General" weightage="50" keywordseo="hydro" source="Orion">Hydro</keyword> growth has been strong at 10 per cent, while Thermal and RE growth stood flat to moderate at 2 per cent. While, coal production reported 11.4 per cent and 8.3 per cent YoY growth for July and August, respectively. Coal dispatch is up 8.5 per cent/5.4 per cent YoY for the two months, although there was some tapering in growth. As per report, overall coal dispatch has been ~7 per cent for these two months, the power sector has received ~14 per cent higher coal in August 2023 as against August 2022 - YTD numbers stand at 20 per cent. This is good compared to last year, when India faced good demand upsurge during Sep-Oct and many thermal units did not have enough inventory. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/satellite-internet-provider-hughes-communications-india-on-monday-announced-the-commercial-launch-of-indias-first-high-throughput-satellite-hts-broadband-service-powered-by-the-indian-space-research-organisation-isro-as-the-elon-musk-run-spacex-abandoned-its-affordable-internet-project-starlink-in-the-country-/articleshow/94151236.cms">Hughes, ISRO launch satellite internet service in India as Musk's Starlink disappears</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/lenskart-and-mirae-asset-capital-sign-up-with-razorpay-for-online-transactions/articleshow/94150744.cms">Lenskart and Mirae Asset Capital sign up with Razorpay for online transactions</a>

Power generation rises marginally in July-Aug on heavy rain: Emkay Global

<ul class="summary-list"><li>Saltwater will soon rush into the Mississippi River, which hit its lowest flow rate since 1988.</li><li>That means the drinking water for thousands of Louisiana residents will be polluted.</li></ul>For the second year in a row, the Mississippi River water level is at an extreme low.The problem is thanks to an <a href="https://www.businessinsider.com/before-and-after-photos-mississippi-river-dramatic-drop-2022-10">ongoing drought event.</a> The river's current levels are comparable to last October when <a href="https://www.businessinsider.com/photos-dry-mississippi-river-waters-ground-barges-reveal-old-shipwreck-2022-10">barges got stuck on sandbars</a> and <a href="https://www.businessinsider.com/flash-drought-on-mississippi-river-may-devastate-us-exports-2022-10">US agricultural exports suffered</a>.We're already seeing those crises repeat themselves: This summer brought 40 days of <a href="https://www.world-grain.com/articles/19075-falling-levels-on-mississippi-river-affecting-grain-shipments">river closures</a>, meaning the boats that travel along the Mississippi river carrying roughly 60% of the country's grain exports faced significant delays.If a receding water level sending shocks through the supply chain wasn't enough, the river is also facing its lowest flow rate since 1988, threatening the drinking water for southern Louisiana residents in and around New Orleans.That's because a low flow rate could allow saltwater from the Gulf of Mexico to push into the river and pollute the source of drinking water for thousands.Mississippi River water flows may reach as low as 130,000 cubic feet per second this year, according to Matt Roe, a spokesperson for New Orleans' US Army Corps of Engineers (USACE). That number should be at 300,000 cubic feet per second to keep ocean water out, he said.Officials built two sills — which are underwater concrete barriers — in the last two years to help raise the water levels. The USACE built the second sill in July after it became apparent saltwater was moving upriver, Roe told Insider. As the saltwater wedge approaches, USACE officials are working 24/7 to augment the second sill.While the augmentation won't stop the saltwater from invading, it will buy affected communities more time."The augmented sill is expected to provide an additional 10 to 15 days for communities upriver to continue their preparation efforts," Roe said.The augmentation process began September 24 and will take 24 days to complete, according to Roe. As of September 27, officials <a href="https://www.mvn.usace.army.mil/Missions/Engineering/Stage-and-Hydrologic-Data/SaltwaterWedge/SaltwaterWedgeNow/">reported</a> the wedge was at River Mile 69.4, less than 30 miles downstream from New Orleans' Algiers Water Purification Plant.Louisiana Governor John Bel Edwards <a href="https://gov.louisiana.gov/assets/BidenLetterSaltwater.pdf">requested</a> a federal emergency declaration from President Joe Biden last week, writing that 20% of the state could be impacted by the saltwater intrusion and experts predict the crisis could last until January 2024.Plaquemines Parish, just south of New Orleans, has already purchased 200,000 bottles of water in anticipation, Edwards wrote.USACE officials beyond Louisiana are also working to mitigate the effects of low water levels and low flow rates.Further upriver in Missouri, the USACE is working 24/7 with two dredgers — boats that suck up accumulated sediment — to move sediment from the river bank and into the channel with the goal of raising water levels, according to Lou Dell'Orco, chief of operations and readiness at the USACE St. Louis District.Ultimately, rain — and a lot of it — is what the Mississippi River will need to reach its average water level and flow rate again, Roe and Dell'Orco both agreed.

The Mississippi River's flow is the weakest it's been in 35 years. Seawater overtaking the river could make New Orleans' drinking water too salty for months.

The Indian tractor industry sold 59,586 units last month down from 80,980 units sold during July 2021, said <keyword id="14677165" type="General" weightage="80" keywordseo="tractor-junction" source="Orion">Tractor Junction</keyword>, a digital marketplace for tractors and farm equipment. According to Tractor Junction, five states - Uttar Pradesh, Rajasthan, Maharashtra, Karnataka and Gujarat- accounted for the majority of tractor sales last month. The decline is largely due to a high base of the previous year and an uneven spread of the monsoon season. The month of July witnessed floods, water logging, and heavy rains throwing normal life out of gear for days in various parts of the country. The sales figures do not include the sales data from the states of <keyword id="6355554" type="General" weightage="50" keywordseo="madhya-pradesh" source="Orion">Madhya Pradesh</keyword>, <keyword id="37102" type="General" weightage="50" keywordseo="andhra-pradesh" source="Orion">Andhra Pradesh</keyword> and Telangana, Tractor Junction said. "The tractor sales in the month of July are down due to a higher base recorded last year. Going forward the IMD's forecast of average rain (96-104 per cent of long period average- <keyword id="180155" type="General" weightage="50" keywordseo="lpa" source="Orion">LPA</keyword>) in August and September and a good crop yield augurs well for tractor and other farm equipment volumes," <keyword id="139676" type="General" weightage="80" keywordseo="rajat-gupta" source="Orion">Rajat Gupta</keyword>, Founder, Tractor Junction said. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/honda-power-and-hpcl-starts-electric-battery-swap-services-operations-at-petrol-stations/articleshow/93455501.cms">Honda Power starts electric battery swap services at HPCL petrol pumps</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/intel-introduces-arc-gpus-for-desktops-and-laptops/articleshow/93453279.cms">Intel introduces ARC GPUs for desktops and laptops</a>

Tractor industry sales down to 59,586 units in July 2022

<ul class="summary-list"><li>Michele Harris has major depression that gets worse in the spring and summer. </li><li>Sunny days, the smell of fresh-cut grass, and warm weather all trigger her.</li></ul>This as-told-to essay is based on a conversation with Michele Harris. The following has been edited for length and clarity.Think about the first warm day in spring. The sun is out, the air smells different, and people are wearing shorts and flip-flops, even if it's not quite warm enough yet. It's a day most people look forward to, but I dread it. I have <a href="https://www.nimh.nih.gov/health/publications/seasonal-affective-disorder" target="_blank" rel="noopener">seasonal affective disorder</a>, a type of depression that flares up at certain times of year. Unlike most people with seasonal affective disorder, I don't experience my symptoms during the cold, dark days of winter. My depression worsens with the sunshine and heat. I'm one of about <a href="https://www.webmd.com/depression/summer-depression" target="_blank" rel="noopener">10% of people</a> with SAD who have summer depression.It seems like everyone looks forward to summer, which makes me feel like I should, too — but I don't. The disconnect between how I should feel and how I actually feel brings out shame, guilt, and depression. People understand depression, but when I mention to them that my symptoms get worse in the summer, they have no idea what to say.<h2>I love outdoor activities, but I look forward to cloudy days</h2>I would say that I've had summer depression for my entire adult life. I Googled my symptoms and talked about them with my therapist, who guided me to embrace the diagnosis. Knowing that this is a legitimate condition helped alleviate some of my guilt. Doctors aren't sure why people have <a href="https://www.insider.com/woman-with-reverse-seasonal-affective-disorder-needs-colder-weather-2022-8">summer depression</a>, but I think my condition is caused by a few factors. I struggle with depression year-round. There's also so much pressure to be outside living life during the summer. On top of that being overwhelming for a person with depression, I'm sensitive to hot weather.No one expects me to be doing things when it's below freezing and snowing, but during the summer, the disconnect between my mental health and social expectations is huge. The whole season feels at odds with my mental state.As a teacher, I have a lot to keep me busy during the school year, but when I stop working for the summer, many of the negative thoughts that I've held at bay come for me.Recently, I was lying in bed with the fan on, reading my book. This is how I prefer to spend the majority of my time in the summer. All of a sudden, I heard my neighbor mowing his lawn. It's such a quintessential summer sound, and it reminded me that other people were outside enjoying the sun. It was a huge trigger because I remembered that the rest of the world saw summer as a time of joy and productivity. <h2>Summer highlights my depressed state</h2>Like many people, I become obsessed with the weather during the summer, but while others look for sunshine, I'm hoping for the opposite. Sunny days make me feel overwhelmed and unproductive. I hate when the weather forecasters say "beautiful weather" for sun and heat because beautiful weather to me is cool and cloudy. Overcast days are my favorite. Rain is second best. My ideal summer morning is one where I can put on a long-sleeve shirt and enjoy the chill in the air. On gray days, it's more socially acceptable to stay in and cuddle up with a book. I can just enjoy these days without thinking about all the summer activities I should be embracing. People are surprised to learn that I love the beach and boating. My boyfriend boats about three times a week during the summer, but I'll join him only if the weather is cloudy and cool. I'm much more likely to visit the beach during the fall or winter, rather than in July and August. During the summer, I usually adjust <a href="https://www.businessinsider.com/new-drugs-depression-treatments-auvelity-zuranolone-biomarkers-psychedelics-2023-2">my depression medications</a> to help handle my intensifying symptoms. I see my therapist more and try to find things to help me cope. For example, I look forward to the peonies blooming every June. But I look forward to cool fall weather even more.<h2>It's validating to know I'm not the only one who has a hard time </h2>When I was younger, summers were even more challenging. As <a href="https://www.insider.com/what-a-single-mom-learned-after-selling-her-home-2023-7">a single mom raising my daughter</a> — who is now in her 30s — I wanted her to enjoy her time off from school, so I enrolled her in a swim club and other summertime activities. But in the mornings, I would get up early and sneak outside to cry because I was so overwhelmed by the pressure summer brought. I hoped she wouldn't notice. This year, I posted in a Facebook group for teachers, asking if anyone else felt like they took awhile to adjust after classes let out. When I received hundreds of responses, it was so validating to know I was not alone. Of course, struggling with an adjustment isn't the same as having depression, but being out of the classroom definitely contributes to my mood disorder. Finding out that it affects others, too, was influential. This led me to speak out about my condition. While summer is great for many people, some of us are miserable during the warmer, sunnier months, and that's OK.

You Searched For "Rain in July month" and got 7 results

FADA urges banks to tighten funding to dealers as rains play spoilsport in August

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India to witness a rare and mesmerising DOUBLE meteor shower on July 30!

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One in four taxpaying citizen yet to file IT returns with 3 days to deadline

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Power generation rises marginally in July-Aug on heavy rain: Emkay Global

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The Mississippi River's flow is the weakest it's been in 35 years. Seawater overtaking the river could make New Orleans' drinking water too salty for months.

Morgan McFall-Johnsen,Katie H…

Tractor industry sales down to 59,586 units in July 2022

IANS

Seasonal affective disorder isn't just for winter months. Summer highlights my depression, and sunny days make me blue.

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