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<ul><li>Tomatoes demonstrate <keyword id="18976288" type="General" weightage="80" keywordseo="cobweb-phenomenon" source="Orion">cobweb phenomenon</keyword> in economics.</li><li>Low prices one season discourage farmers from planting from the next season.</li><li>Perishable and seasonal nature causes extremes in prices.</li></ul> Prices of the humble tomato, an integral part of our diet, dominated through July because prices hit Rs 200 a kilo. After the tomato, prices of the ivy gourd or tendli shot through the roof. These prices perfectly demonstrate the cobweb phenomenon of cyclic price fluctuations in economics. It usually applies to agricultural goods, like potatoes or onions, which have inelastic demand. In layman terms, inelastic demand means that even a large change in price of these goods will cause only a small decrease in quantity demanded. Farmers have to decide the extent of the production, well in advance, based on the results of the previous year. Low prices one season discourage farmers from planting from the next season. Hence, prices skyrocket in the next season due to limited supply, causing farmers to increase the supply. Excessively abundant supply that must be sold immediately due to the perishable nature of the good causes prices to decrease rapidly, setting the vicious cycle into play again. Less than two months later, farmers are throwing tomatoes on highways because prices have dipped below production cost. In recent times, we have seen farmers shift areas of cultivation to crops like soya and cotton after low price realization for tomatoes between December 2022 and April 2023. Hence, July saw a dramatic decrease in output after the crop’s two- three month harvest period. Limited supply caused very high prices, delivering supernormal or windfall profits to farmers who maintained supply at this point. The government intervened, selling tomatoes procured by NCCF and NAFED cooperatives at discounted prices to make them more accessible in states like Uttar Pradesh and Bihar. Supply chain disruption caused by unseasonal rainfall and excessive heat that destroyed crops worsened the situation. For example, heavy rainfall in Karnataka damaged 70% of the crop which would have been ready in August. The present situation has reached the other extreme with abundant supply since July’s exorbitant prices prompted farmers to increase production. Prices have plummeted to the extent that some farmers are dumping their produce on roads. This dumping is reminiscent of April 2022 when prices dipped to as low Rs 4 due to glut in the market. Although tomatoes constitute less than 1% of the <keyword id="6355865" type="General" weightage="60" keywordseo="cpi" source="Orion">CPI</keyword> index (the price index for basket of goods acquired by consumers), their impact is pervasive on consumers’ inflation expectations for all vegetables. The over 200% price increase in July contributed to an inflation rate of 37.34% for vegetables and general CPI inflation rate of 7.44%. In its monthly State of the Economy article for July 2023 , The Reserve Bank of India stated that “Its (tomatoes’) volatility also gets transmitted to prices of other vegetables in both retail and wholesale markets.” Although the cobweb phenomenon is inherent to demand and supply characteristics of tomatoes, its effects could be mitigated by strengthening processing, preservation and storage practices. Improving connectivity within the country would enable secondary supply to those regions, which experience the most shortage. The author, Ananya Tawakley, is an external writer and the views expressed in the article are her own.

The phenomenon behind tumultuous prices

New Delhi [India], July 20 (ANI): The Monsoon session of <keyword id="6354721" type="General" weightage="50" keywordseo="parliament" source="Orion">Parliament</keyword> begins on Thursday amidst outrage over the situation in <keyword id="6359754" type="General" weightage="50" keywordseo="manipur" source="Orion">Manipur</keyword> with the Opposition demanding a statement from the Prime Minister of India. Parliamentary Affairs Minister <keyword id="145705" type="General" weightage="50" keywordseo="prahlad-joshi" source="Orion">Prahlad Joshi</keyword> has said that 31 bills will be taken up in the monsoon session. Among these include the Digital Personal Data Protection Bill, 2023. Other important legislations that are expected to be taken up in the Session are the Bill to replace the Government of the National Capital Territory of Delhi (Amendment) Ordinance, 2023, promulgated in May this year. The ordinance deals with the control of services in Delhi and was promulgated after the Supreme Court verdict on an appeal by the Delhi government. Parliamentary Affairs Minister yesterday said that 34 parties and 44 leaders participated in the all-party meeting convened by the government for smooth conduct of the monsoon session which will continue to till August 11 and will have 17 sittings. Other Bills on the agenda of the government include Cinematograph (Amendment) Bill, 2019; DNA Technology (Use and Application) Regulation Bill, 2019; Mediation Bill, 2021; Biological Diversity (Amendment) Bill, 2022 ; Multi-State Cooperative Societies (Amendment) Bill, 2022; Repealing and Amending Bill, 2022; Jan Vishwas (Amendment of Provisions) Bill, 2023; Forest (Conservation) Amendment Bill, 2023; Constitution (Scheduled Tribes) Order (Third Amendment) Bill, 2022 (with respect to State of Himachal Pradesh); Constitution (Scheduled Tribes) Order (Fifth Amendment) Bill, 2022 (with respect to State of Chhattisgarh); Postal Services Bill, 2023; National Cooperative University Bill, 2023; and Ancient Monuments and Archaeological Sites and Remains (Amendment) Bill, 2023. The list also includes International Monetary Fund and Bank Bill, 2023; Provisional Collection of Taxes Bill, 2023 18; the National Dental Commission Bill, 2023; National Nursing and Midwifery Commission Bill, 2023; Drugs, Medical Devices and Cosmetics Bill, 2023; Registration of Births and Deaths (Amendment) Bill, 2023; <keyword id="6357972" type="General" weightage="20" keywordseo="jammu" source="Orion">Jammu</keyword> and Kashmir Reservation (Amendment) Bill, 2023; Cinematograph (Amendment) Bill, 2023; Press and Registration of Periodicals Bill, 2023; Advocates (Amendment) Bill, 2023; Mines and Mineral (Development and Regulation) Amendment Bill, 2023. Railways (Amendment) Bill, 2023; National Research Foundation Bill, 2023; Constitution (Jammu and Kashmir) Scheduled Castes Order (Amendment) Bill, 2023; Constitution (Scheduled Castes) Order (Amendment) Bill, 2023 and the Constitution (Jammu and Kashmir) Scheduled Tribes Order (Amendment) Bill, 2023 are also among the 31 bills on the agenda of the government. Digital Personal Data Protection Bill, 2023, was approved by the Union Cabinet earlier this month. This government had withdrawn Personal Data Protection Bill from Parliament in August last and said that it will come up with a fresh bill. Supreme Court had ruled in 2017 that privacy is a fundamental right and the Digital Personal Data Protection Bill, 2023, is a crucial pillar of the overarching framework of technology regulations being framed by the Centre. The previous version of the bill had come after an extensive consultation process with a Joint Parliamentary Committee also examining it. The government has held another round of consultations to frame the new bill. The Bill to replace the Government of the National Capital Territory of Delhi (Amendment) Ordinance, 2023, seeks to establish the National Capital Civil Services Authority, which consists of the Chief Minister, Chief Secretary of Delhi, Principal Home Secretary of Delhi. The Authority will make recommendations to the Lieutenant Governor (LG) regarding transfers and postings of officials and disciplinary matters. While the government is expected to give push to its legislative agenda, the Opposition parties have planned to raise several issues including Manipur violence, railway safety, unemployment, inflation, India-China border standoff and trade imbalance between the two countries. Pralhad Joshi said the government has sought the Opposition's support in the smooth functioning of the Parliament during the Monsoon Session. "The government is ready to discuss all issues in the Monsoon Session. We have appealed to the Opposition parties to support in the smooth functioning of the Parliament," Joshi said after the all-party meeting yesterday. Some of the parties have planned to move an adjournment motion over Manipur violence among other issues on day one of the Parliament's Monsoon Session today. The opposition insisted that the discussion should take place in the presence of Prime Minister Narendra Modi. Congress on Wednesday said that the party will raise Manipur violence during the session. "Today, in the beginning (of the meeting), I kept my point. Our first issue is the violence in Manipur. Prime Minister should come and answer in Parliament. We will bring adjourment motion over the matter tomorrow," Congress leader Adhir Ranjan Choudhary said after attending the all-party meeting. <keyword id="6355187" type="General" weightage="50" keywordseo="lok-sabha" source="Orion">Lok Sabha</keyword> Speaker Om Birla also chaired a meeting of the Business Advisory Committee ahead of the session. He said, leaders of all parties have assured cooperation in the proceedings of the House. (ANI)

Parliament Monsoon session begins today; 31 bills likely to be taken up

<ul><li>The engine and gearbox protection add-on offers coverage for damages to the vehicle’s engine, or gearbox due to waterlogging or hydrostatic lock during the monsoon. </li><li>With a zero-depreciation cover in place, the entire cost of vehicle repair or replacement of damaged auto parts is compensated by the insurance company. </li><li>Securing an add-on to a <keyword id="35490" type="General" weightage="20" keywordseo="car-insurance" source="Orion">car insurance</keyword> policy is possible only during the renewal period. </li></ul>For any car owner, <keyword id="6439882" type="General" weightage="20" keywordseo="monsoons" source="Orion">monsoons</keyword> can be a nightmare, especially if they live in areas prone to heavy rains, floods and water-logging. Most of our cities are susceptible to flooding during the monsoons, and recent instances of flooding in Mumbai, Chennai, Hyderabad and Bangalore are fresh in our minds. In the Bangalore 2022 floods alone, thousands of cars were damaged during the monsoons. In these times, plain vanilla insurance may not suffice. Here are five <keyword id="744230" type="General" weightage="20" keywordseo="add-ons" source="Orion">add-ons</keyword> to your insurance cover that will protect your car during the monsoons. <cmsannotation type="cmsannotation" annotationid="subhead" text="Engine and gearbox protection add-on">Engine and gearbox protection add-on</cmsannotation> During the monsoons, if your car is forced to ply on a flooded road and water damages the engine, you can run up thousands in repair costs. “This add-on offers coverage for damages to the vehicle’s engine or gearbox due to waterlogging or hydrostatic lock (occurs when a car is driven after the engine is filled with water) during the monsoon. It includes the cost of repairing, or replacing the engine parts, which can be quite expensive. This feature is strongly recommended for areas which are prone to flood and waterlogging,” says Parthanil Ghosh, president of retail business at HDFC ERGO General Insurance Company. <cmsannotation type="cmsannotation" annotationid="subhead" text="Zero-depreciation add-on">Zero-depreciation add-on</cmsannotation> Monsoons bring a fair share of challenges with a high risk of accidents and collisions due to slippery roads and hazy visibility. “With zero-depreciation cover in place, the entire cost of vehicle repair or replacement of damaged auto parts is compensated by the insurance company. However, there is 50% coverage for tyres, tubes, and batteries,” says Nitin Kumar, head of motor insurance at Policybazaar.com. <cmsannotation type="cmsannotation" annotationid="subhead" text="24x7 roadside assistance add-on">24x7 roadside assistance add-on</cmsannotation> During the monsoon season, unpredictable weather conditions can frequently lead to vehicle breakdowns, battery failures or flat tires. To avoid being stranded without assistance for extended periods, it is beneficial to consider adding roadside assistance coverage. This additional coverage provides services such as immediate repairs, towing, and arranging for alternative transportation. “This cover offers services like on-the-spot repairs, towing, and arranging for alternative transportation to save the vehicle owner from the inconvenience and heavy financial expenses while being stuck on the road during heavy rainfall,” says Kumar. Cost of add-ons <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td colspan="2" style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">For cars priced ₹14 lakh and above (eg. Hyundai Creta) </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Add-ons </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cost (₹) </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zero Depreciation </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9,000-12,000 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Engine Protection Cover </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">500-1,200 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Roadside Assistance </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100-200 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Daily Allowance </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,000-2,000 </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumables </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">500-2,000 </td></tr></tbody></table> Source: Policybazaar.com <cmsannotation type="cmsannotation" annotationid="subhead" text="Consumables add-on">Consumables add-on</cmsannotation> Expenses like brakes, engine oil, nuts and bolts, etc, are typically excluded from a standard comprehensive plan. However, they may drive up the cost of repairs in case of damage due to flood waters. “This add-on is recommended for all geographies as it covers for the cost of consumables like engine oil, nuts, bolts and other similar items that need to be replaced during repairs and are excluded being wear and tear items,” says Ghosh. “For eg., any engine, or gearbox damage on account of impact, or water-related repairs would require oil replacement, which can be paid for under this add-on cover,” says Animesh Das, chief underwriting officer, ACKO. <cmsannotation type="cmsannotation" annotationid="subhead" text="Daily allowance add-on">Daily allowance add-on</cmsannotation> In situations where the car is completely immobilised, or undergoing repairs, this add-on feature provides compensation to cover the expenses of renting an alternative vehicle for a specified number of days, up to a predetermined daily limit. The exact daily limit for reimbursement may differ depending on the insurance company. “However, adding an add-on to a car insurance policy is (only) possible during the renewal period. Insurance providers typically allow policyholders to evaluate and modify their policy coverage during the renewal process,” says Das. During this period, the customer can assess their insurance needs and make any necessary changes or enhancements to their coverage for the next policy term.

Getting monsoon ready – Five add-ons to consider for your car insurance

<ul><li>FII inflows in May are typically erratic due to several factors impacting the domestic markets like monsoon predictions, <keyword id="6355644" type="General" weightage="20" keywordseo="elections" source="Orion">elections</keyword> and so on.</li><li>But this year, <keyword id="432394" type="General" weightage="20" keywordseo="fii-flows" source="Orion">FII flows</keyword> in May have been positive and the trend may continue, say analysts.</li><li>Also, FII inflows have remained persistent amid weakness in the US <keyword id="75201" type="General" weightage="20" keywordseo="dollar-index" source="Orion">Dollar index</keyword>.</li></ul>Foreign institutional investors (FIIs) have been on a buying spree so far in May – investing as much as ₹13,278 crore in equities as they turned net buyers on all days of this month. FII inflows in May are usually erratic due to several key factors including monsoon predictions. But this year, the FII flows are on a positive spree and the trend may continue, as per analysts. “Typically, several factors impact FIIs inflows in May every year including prediction of monsoon, if there is election and macro economic situation,” Shrikant Chouhan, head of equity research (retail), Kotak Securities told Business Insider. In 2022, FIIs pulled out ₹1.21 lakh crore. The selling continued in the first two months of 2023 before gradually reversing in March and April — with inflows of ₹1,997 crore and ₹5,711 crore respectively. “FIIs are net sellers on a year-to-date basis. However, some recovery was seen in the last one month. FIIs have pulled out the majority of the easy money from the Indian market, which they had pumped in after the Covid-19 crisis in March 2020. They have pulled out $23 billion in FY22/23 out of $37 billion pumped in FY21. Nonetheless, the pace of selling has reduced in the last three months,” said a report by Axis Securities. FII flows are gradually trending higher amid easing macroeconomic situation and hopes of a pause in interest rates cycle soon. India Meteorological Department (IMD) has also forecast a normal rainfall this year. Also, FIIs inflows have remained persistent amid weakness in the US Dollar index, which has weakened over 1.5% in the last three months. Rising interest rates make debt funds in developed nations attractive. This is one of the key factors for FIIs pulling out money from Indian markets and allocating it to such countries. Post Covid, the Russia-Ukraine crisis and elevated inflation in the country also impacted inflows. FII flows in May 2023 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 2023 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net inflow by FIIs </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,997 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 3 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,338 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 4 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,414 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 5 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹777 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 8 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,123 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 9 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,942 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 10 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,833 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 11 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹837 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 12 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,014 crore </td></tr></tbody></table> “In the last one and a half years, India failed to attract consistent FII money since our markets had become expensive compared to developed markets. And since interest rates went higher and higher in the developed markets, FII money shifted their money in such markets,” said Chouhan. However, the interest rates cycle finally seems to be turning. In the latest US Fed meeting in May, it signaled that the current tightening cycle is at an end, raising expectations for a pause in interest rates soon. “There is hope that the US Fed may cut rates in the coming 1-2 meetings. And it is clear that in the US, the next cycle will be a recession. So, FIIs may not invest there and rather invest in countries where there is growth – like India. And valuation-wise also India has become attractive compared to its position six months back. Also, whenever there is a possibility of a rate cut or the cycle is going to turn, FIIs start shifting their funds from bond to equity,” added Chouhan. Hopes of the US Fed pausing rates sooner also gave a boost to the domestic market that has been highly volatile this year. The Sensex has gained nearly 3% in the last one month alone, crossing the crucial mark of 62,000. It has gained 1.51% so far this year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tata-motors-posts-net-profit-of-5408-crore-in-q4-beats-estimates/articleshow/100189259.cms">Tata Motors posts net profit of ₹5,408 crore in Q4, beats estimates</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-hindenburg-row-sc-hints-at-granting-sebi-extension-on-probe-report-to-decide-on-may-15/articleshow/100185994.cms">Adani-Hindenburg row: SC hints at granting SEBI extension on probe report, to decide on May 15</a>

FII inflows may remain consistent in May with turn in rate cycle

<ul><li>June has witnessed erratic rainfall resulting in many states receiving deficit rains.</li><li>Kharif acreage lagged the year-ago level by a significant 24%, as on June 24, 2022.</li><li>Rice and cereal sowing has been much lower than expected while sugarcane and jute coverage has been good.</li></ul>India’s food inflation has been affecting the common man, and the Indian central bank, RBI, has been banking on a good Kharif crop to arrest it. But looks like rain gods are in no mood to relent. Except for the East and Northeast, India witnessed a rainfall deficit in three of the four weeks of June. <keyword id="6358301" type="General" weightage="20" keywordseo="monsoon" source="Orion">Monsoon</keyword> directly impacts India’s growth and inflation outlook and the <keyword id="164166" type="General" weightage="20" keywordseo="Southwest-Monsoon" source="Orion">Southwest monsoon</keyword> is important as the country receives about 75% of annual rainfall between June and September. A good monsoon soothes not only farmers but the economy and markets too. The pan-India <keyword id="14373468" type="General" weightage="20" keywordseo="Southwest-Monsoon-rainfall" source="Orion">Southwest Monsoon Rainfall</keyword> was below normal at 92% of long period average (LPA) in June 2022. This is in line with the lower end of the forecast range (92-108%) for the month provided in the Indian Meteorological Department’s (IMD’s) report released in May 2022. Sugarcane and jute are fine but rice and cereal coverage lags Since the forecast is correct at the lower end, crop sowing patterns are affected and the much expected bumper crop might not come to be. Rice and cereal sowing has been much lower than expected. Kharif sowing in general has declined 5.3% on a yearly basis as on July 1, 2022. “While roughly 96-97% of last year’s area has been covered for sugarcane, and jute and mesta as on July 1, 2022, it is moderate in the range of 20-24% in the case of oilseeds, coarse cereals and pulses, followed by a modest 10.3% coverage for rice,” said the report by ICRA. The report mentions that with an uneven start to the monsoon season, Kharif acreage lagged the year-ago level by a significant 24%, as on June 24, 2022. Another concern is labour shifting back to urban centres with a revival in service sector demand, which impacts the availability of manpower in the rural areas to till the land. “Also, the availability of fertilizers poses a concern, posing a downside to acreage,” added the report. Sowing can pick up if monsoon progresses well However, the IMD expects monthly rainfall in July 2022 over the country as a whole to be normal. Following heavy rains in the third week of June, sowing of kharif crops picked up pace in the last week of the month. “Typically, sowing gathers steam in July, so the lagging pace of Kharif acreage can be partly made up if the monsoon progresses well through the next month,” said a report by ICRA. June witnessed erratic rainfall as many states received deficit rains. Over 30 large reservoirs across India have not just less water compared to last year, but far less compared to the average of the last 10 years. Data from India Meteorological Department (IMD) showed that Kerala, Maharashtra, Gujarat, Chhattisgarh, Odisha, Jharkhand, Mizoram, Manipur, Uttar Pradesh, Delhi, Uttarakhand, Himachal Pradesh, Punjab, Haryana and the union territories of Andaman &amp; Nicobar Islands, Dadra, Nagar Haveli and Daman &amp; Diu and Ladakh, received deficit rainfall. Reservoir storage now trails year-ago level with gaps in all the regions, except the North <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Regions wise reservoir storage levels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">July 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">June 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Northern </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eastern </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Western </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Central </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">29% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Southern </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">42% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28% </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/reliance-has-to-pay-6-per-litre-of-petrol-13-for-diesel-exported-as-tax-but-rising-margins-may-cushion-it/articleshow/92675488.cms">Reliance has to pay ₹6 per litre of petrol &amp; ₹13 for diesel exported as tax — but rising margins may cushion it</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/4-out-of-5-traders-go-slow-on-cryptocurrency-investments-after-new-crypto-tax-wazirx/articleshow/92676673.cms">4 out of 5 traders go slow on cryptocurrency investments after new crypto tax – WazirX</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/environment/news/due-to-delayed-monsoon-and-an-extended-summer-ridden-with-heatwaves-indias-water-reservoir-level-has-been-dipping/articleshow/92676758.cms">Heatwave followed by a delayed monsoon is drying up India’s reservoirs that provide drinking water</a>

Rice, cereal sowing suffers due to delayed monsoons drenching hopes of moderating food prices

<ul><li>India is witnessing <a href="https://www.mid-day.com/lifestyle/nature-and-wildlife/article/erratic-rainfall-pattern-in-india-amid-climate-change-warns-ipcc-report-23223005">erratic</a> rainfall after suffering from intense <keyword id="190116" type="General" weightage="20" keywordseo="heat-waves" source="Orion">heat waves</keyword> in April.</li><li>On one hand, Assam has received <a href="https://weather.com/en-IN/india/monsoon/news/2022-06-24-southwest-monsoon-to-cover-india-entirely-between-june-30-and-july-6">too much</a> rainfall and on the other, Jharkhand has received around half of what it’s due.</li><li>We are only halfway through 2022 and India has already witnessed extreme weather patterns.</li></ul>Heatwaves somewhere, floods in other parts of the country – India has witnessed extreme weather patterns in 2022 and we are only just halfway through the year. After suffering from intense heat waves in April, Assam has received <a href="https://weather.com/en-IN/india/monsoon/news/2022-06-24-southwest-monsoon-to-cover-india-entirely-between-june-30-and-july-6">too much</a> rainfall and on the other, Jharkhand has received around half of what it’s due. <div type="image" title="rain or sun" msid="92592948" hostid="261" caption="&amp;lt;p&amp;gt;Giphy&amp;lt;/p&amp;gt;"></div> <keyword id="185923" type="General" weightage="20" keywordseo="erratic-monsoon" source="Orion">Erratic monsoon</keyword> in India The <a href="https://www.businessinsider.in/india/news/the-winds-of-change-are-changing-the-fortunes-of-indian-farmers/articleshow/92487685.cms">easterly winds</a> that bring <keyword id="6358301" type="General" weightage="20" keywordseo="monsoon" source="Orion">monsoon</keyword> to the Northwest India have been absent in June this year, leading to a dry spell in the region. Instead, those winds drifted to Northeast India, leading to <a href="https://www.businessinsider.in/india/news/the-winds-of-change-are-changing-the-fortunes-of-indian-farmers/articleshow/92487685.cms">floods</a>. As June came to an end, as per <a href="https://twitter.com/ANI/status/1542378873492344835">IMD</a>, Southwest monsoon advanced into entire Uttar Pradesh, Himachal Pradesh and Jammu and Kashmiri, some parts of Rajasthan, entire Delhi, some parts of Punjab and Haryana on Thursday. According to the latest EcoScope report from research firm Motilal Oswal, India’s cumulative rainfall has a reported deficit of 7% as of June 26, 2022 after reporting a surplus of 20% in 2021 and 22% in 2020. The deficiency of rainfall is because the northwestern, central and southern parts of India have a shortfall of rains, suggesting that the issue is a lot more widespread than initially expected. <div type="image" title="kharif-2" msid="92592978" hostid="261" caption="&amp;lt;p&amp;gt;BI India&amp;lt;/p&amp;gt;"></div> A see-saw summer From long dry spells to excessive rainfall, 2022 has been a year of extremes so far. As per the India Meteorological Department (IMD), April was the <a href="https://internal.imd.gov.in/press_release/20220402_pr_1551.pdf">hottest</a> month for northwest and central India and the third-hottest April the country has seen over the past 122 years, from 1901 to 2022. The daily high temperatures measured each year have also been increasing at a faster rate than daily low temperatures. This indicates that the distribution of temperature is shifting and <a href="https://www.cnbc.com/2022/05/02/india-heat-wave-in-pictures.html">changing</a> the ‘normal’ state. In fact, 12 of the country’s 15 <a href="https://pib.gov.in/PressReleasePage.aspx?PRID=1686173">warmest years</a> on record have occurred in the last 30 years. <div type="image" title="unnamed (6)" msid="92592990" hostid="261" caption="&amp;lt;p&amp;gt;BI India&amp;lt;/p&amp;gt;"></div> These recurring patterns of intense hot spells and erratic rainfall could be a sign of climate change and global warming. Our country is also expected to suffer through more frequent and intense hot spells, extreme rainfall and erratic monsoons in the coming decades as the planet warms, said <a href="https://www.business-standard.com/article/current-affairs/india-s-record-heatwave-to-get-worse-authorities-blame-global-warming-122042900785_1.html">United Nations’ Intergovernmental Panel</a>, a body for assessing science related to climate change. Cascading impacts of climate change This radical change in the weather is not good news for a country like India, which is heavily dependent on agriculture as it contributes <a href="https://india.mongabay.com/2021/10/extreme-weather-becomes-the-new-normal-in-indias-main-monsoon-season/">16-20% to GDP</a>, according to Finance Ministry data. In a country like India farmers are heavily dependent on monsoons for irrigating their fields, erratic rainfall and hot summer are the bane for their cultivation. According to a <a href="https://data.worldbank.org/indicator/AG.LND.IRIG.AG.ZS">World Bank report</a>, as of 2015, nearly 62% of the agricultural lands in India are dependent on monsoon rains for irrigation. As of 24th Jun’22, <a href="https://www.businessinsider.in/india/news/the-winds-of-change-are-changing-the-fortunes-of-indian-farmers/articleshow/92487685.cms">Kharif sowing</a> is 24% lower than the area sown last year. <div type="image" title="kharif-1" msid="92593007" hostid="261" caption="&amp;lt;p&amp;gt;BI India&amp;lt;/p&amp;gt;"></div> The 2022 summer, which was ridden with heatwaves, led to cascading impacts not just on human health, but also on ecosystems such as agriculture, water and energy supplies. Power demand spiked and coal inventories dropped, leaving the country with its worst <a href="https://www.businessinsider.in/india/news/why-are-there-power-cuts-and-heatwave-in-india/articleshow/91177785.cms">power shortage</a> in more than six years. The heat wave also <a href="https://www.reuters.com/world/india/after-five-record-crops-heat-wave-threatens-indias-wheat-output-export-plans-2022-05-02/">threatened</a> India’s wheat output plan. According to a World Meteorological Organization report released in 2020, India lost more than <a href="https://www.hindustantimes.com/india-news/india-lost-87-billion-to-climate-disasters-in-2020-report-101635272896946.html">$87 billion</a> (approx. ₹6.8 lakh crore) due to disasters such as cyclones, floods and droughts. However, there’s still hope to <a href="https://www.ipcc.ch/2022/04/04/ipcc-ar6-wgiii-pressrelease/">control</a> climate change. It will involve a substantial reduction in fossil fuel use, widespread electrification, improved energy efficiency, and use of alternative fuels (such as hydrogen).

SIMPLY PUT: extreme weather is the new normal in India

With the month of June witnessing erratic rainfall resulting in many states receiving deficit rains from the <keyword id="164166" type="General" weightage="20" keywordseo="southwest-monsoon" source="Orion">southwest monsoon</keyword>, over 30 large reservoirs across India have not just lesser water compared to last year, but far less compared to the average of last 10 years. The <keyword id="6357283" type="General" weightage="20" keywordseo="Central-Water-Commission" source="Orion">Central Water Commission</keyword> (CWC) monitors 143 reservoirs on a weekly basis. The total live storage as on June 30 was 48.951 billion cubic metres (BCM), which is 86 per cent of last year's storage and 118 per cent of the average of the last 10 years at the corresponding time. There are six reservoirs that have no live storage. "The rainfall in June was erratic and the progress was slow. Twice there was a break when there was no advance in the monsoon. However, the last week of June more than compensated with heavy rainfall in the the catchments of most of the reservoirs," said an official from the agency under the Jal Shakti Ministry. Data from <keyword id="6355166" type="General" weightage="20" keywordseo="India-Meteorological-Department" source="Orion">India Meteorological Department</keyword> (<keyword id="6366970" type="General" weightage="20" keywordseo="IMD" source="Orion">IMD</keyword>) showed that Kerala, Maharashtra, Gujarat, Chhattisgarh, Odisha, Jharkhand, Mizoram, Manipur, Uttar Pradesh, Delhi, Uttarakhand, Himachal Pradesh, Punjab, Haryana and the UTs of Andaman &amp; Nicobar Islands, Dadra, Nagar Haveli and Daman &amp; Diu and Ladakh, received deficit rainfall. As per the CWC, in the northern region, three reservoirs in Himachal Pradesh have more water compared to last year but as much as minus 38 per cent compared to the average of last 10 years. Punjab's lone reservoir too has a similar story, almost the same quantity of water compared to last year but as much as 37 per cent less compared to the last 10 years' average. In the eastern region, six reservoirs in Jharkhand have minus 19 per cent of last 10 years' average while 10 reservoirs in Odisha have minus 39 per cent of last 10 years' average water quantity. In the Central region, Uttarakhand's three reservoirs have minus 21 per cent less water compared to last 10 years' average while for eight reservoirs in Uttar Pradesh and four in Chhattisgarh, it is minus 8 per cent of the last 10 years' average. Surprisingly, Gujarat and Maharashtra, which were in red (minus 30 and minus 54 per cent deficit) when it came to rainfall for the month of June, had only slightly less water compared to last year but far more than the average of the last 10 years. None of the reservoirs in the southern region are showing any deficit, not even Kerala that had minus 52 per cent deficit as on June 30. "Rangawan in Uttar Pradesh, Nanak Sagar in Uttarakhand, Mulshi and Bheema in Maharashtra, Watrak in Gujarat and Omkareshwar in Madhya Pradesh are the reservoirs that had no live storage as of June 30," said an official of the CWC. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/how-indian-auto-companies-like-bajaj-auto-tata-motors-hero-tvs-kia-performed-in-june-2022/slidelist/92657725.cms">Bajaj in top gear, Hero flat while Maruti declines – here’s how Indian auto cos performed in June 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/bengaluru-delhi-hyderabad-and-mumbai-[%E2%80%A6]stainable-commercial-real-estate/articleshow/92656994.cmshttps://www.businessinsider.in/sustainability/news/bengaluru-delhi-hyderabad-and-mumbai-[%E2%80%A6]stainable-commercial-real-estate/articleshow/92656994.cms">Bengaluru, Delhi, Hyderabad, and Mumbai among top-20 cities in Asia-Pacific for sustainable commercial real estate</a>

30 large reservoirs in India dip to a decadal low after erratic rains in June

Heavy rain lashed <keyword id="66" type="General" weightage="100" keywordseo="delhi" source="Orion">Delhi</keyword> on Thursday leading to traffic jams and <keyword id="52295" type="General" weightage="20" keywordseo="waterlogging" source="Orion">waterlogging</keyword>, besides bringing much needed respite from the scorching heat to residents. Although the rainfall plummeted the national capital's temperature, it has however disrupted normal life. Massive traffic jams were witnessed in ITO, Ring Road, nearby area of the Indira Gandhi International (IGI) Airport, Barapullah, Delhi-Noida border, Chilla Border, UP Gate, Delhi-Gurugram road and in Palam. In an advisory to commuters, the <keyword id="6357103" type="General" weightage="50" keywordseo="delhi-traffic-police" source="Orion">Delhi Traffic Police</keyword> said: "As per IMD report thunderstorm with light to moderate intensity rain and gusty winds would occur over and adjoining areas of entire Delhi. Commuters are advised to plan their journey accordingly." Apart from traffic jams, waterlogging was reported in all the low lying areas of the city. "Waterlogging was reported in the Delhi-Meerut Expressway, Pul Prahladpur underpass, <keyword id="1475643" type="General" weightage="50" keywordseo="zakhira-flyover" source="Orion">Zakhira Flyover</keyword>, IP Estate, Vinod Nagar, Azadpur market underpass, Loni Road roundabout and near Pragati Maidan," an official said. Meanwhile, flight operations at the IGI Airport were also disrupted. The airport authorities have requested the passengers to reach out to the concerned airline for updated flight information. According to the authorities, multiple flights were delayed, while two have been diverted so far to Amritsar and Jaipur. On Tuesday, the <keyword id="6355166" type="General" weightage="50" keywordseo="india-meteorological-department" source="Orion">India Meteorological Department</keyword> (IMD) declared the arrival of <keyword id="164166" type="General" weightage="50" keywordseo="southwest-monsoon" source="Orion">Southwest Monsoon</keyword> in Delhi-NCR. "Southwest Monsoon has advanced into entire Uttar Pradesh, Himachal Pradesh and Jammu &amp; Kashmir, some parts of Rajasthan, entire Delhi, some parts of Punjab and Haryana today, the 30th June, 2022," it said in a tweet. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-recovers-from-its-record-low-gains-13-paise-to-78-90/articleshow/92565559.cms">Rupee recovers from its record low, gains 13 paise to 78.90</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/vivo-x80-pro-is-the-sum-of-the-best-that-vivo-has-to-offer/articleshow/92560860.cms">Vivo X80 Pro is the sum of the best that Vivo has to offer</a>

Waterlogging and traffic jams in Delhi as heavy rains lash the capital

<ul><li>Myntra and Facebook-backed Meesho sold<a href="https://www.businessinsider.in/business/ecommerce/news/meesho-recorded-5-35-million-orders-during-the-one-day-sale/articleshow/92100754.cms"> 60 orders every second</a> or over 5 million products in total on one day of their sale.</li><li>The Consumer Confidence Survey, carried out by the central bank of India, is still in <a href="https://indianexpress.com/article/business/households-see-high-prices-over-next-3-months-consumer-confidence-rises-7965166/">the negative territory</a>.</li><li>The impact of this reduced sentiment however isn’t as bad, especially in discretionary spends.</li></ul>India’s e-commerce titans — Amazon, Flipkart and Myntra — are all hosting their mid-year sales at the moment. It might sound like a bad time as customer sentiment is low due to inflation, layoffs, increasing interest rates and more. But the e-commerce market behaves much differently than<a href="https://www.businessinsider.in/stock-market/news/why-you-should-continue-your-investments-and-sips-in-bear-markets/articleshow/92199199.cms"> the stock markets</a>. Both Myntra and Facebook-backed Meesho — which is the latest entrant among the biggest e-commerce players — sold<a href="https://www.businessinsider.in/business/ecommerce/news/meesho-recorded-5-35-million-orders-during-the-one-day-sale/articleshow/92100754.cms"> 60 orders every second</a> or over 5 million products in total on one day of their sale. For Myntra, it was the first day of its End of Reason sale held between June 11-16 and for Meesho, it was their one-day sale held a week before. Amazon and Flipkart have not yet revealed the performance of their sales yet. *While inflation and high petroleum prices are impacting everyone, consumer sentiment is not universally low. There are many categories in discretionary spending which are still having high sales. Anything with relatively high quality and reasonable pricing seems to be doing well,” N Chandramouli, founder of brand intelligence company TRA Research, too noted. According to several experts Business Insider spoke with, the right product at the right price matters. The Consumer Confidence Survey is still in <a href="https://indianexpress.com/article/business/households-see-high-prices-over-next-3-months-consumer-confidence-rises-7965166/">the negative territory</a>. The Reserve Bank of India’s (RBI) consumer confidence index showed slight improvement to 75.9 in May, compared to 71.7 in March, but it is still in the negative. The impact of this reduced sentiment however isn’t as bad, especially in discretionary spends. “The consumer sentiment isn't as negatively impacted as people are projecting it to be,” Shrenik Gandhi, co-founder and CEO of digital marketing agency White Rivers Media, told Business Insider India. He noted that businesses have to come up with the right products and services at the right time, right price to attract customers. <cmsannotation type="cmsannotation" annotationid="A white space for brands" comment="subhead" text="A white space for brands">A white space for brands</cmsannotation> Shahan Sud, an investment banker turned VC, explained that the union of the attention recession and the impending recession will create a white space for brands that will allow them to curate their stockkeeping unit (SKU) that cater to consumers that are looking for a “value buy, but one that keeps up the fashion trends of the season”. A previous report by ICICI Securities, published earlier this week, also noted that the discretionary companies like retail, QSRs and jewellery will be performing well for now. The low-ticket segment of staples would have the biggest impact of the negative sentiment due to their dependency on the bottom strata for incremental volumes. <cmsannotation type="cmsannotation" annotationid="Beauty, durables will be the biggest sellers in 2022" comment="subhead" text="Beauty, durables will be the biggest sellers in 2022">Beauty, durables will be the biggest sellers in 2022</cmsannotation> Madhur Singhal, managing partner and CEO of Praxis Global Alliance, noted that there will be significant increase in direct-to-consumer (D2C) brands selling beauty, home, kitchen, utilities, and durable goods. Besides this, even electronics and durables will also record good sales this year. He believes that things could be much better than they are now. He noted that the sales will be soft for a few months before they pick up. Contrary to the popular opinion, he noted that the festive sales growth might be muted compared to last year as the trends of revenge buying and pent-up demand have faded away. “I think this year’s festive season will be much better than the previous two years, with consumer spend increasing,” Chandramouli said, differing from Singhal’s opinion. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/ril-hdfc-sbi-zomato-among-stocks-to-watch-out-for-on-june-16/slidelist/92242578.cms" style="">RIL, HDFC, SBI, Zomato among stocks to watch out for on June 16</a> <a href="https://www.businessinsider.in/business/startups/news/cashe-is-now-offering-instant-loans-on-whatsapp-in-30-seconds/articleshow/92230354.cms" style="">A company is now offering instant loans on WhatsApp in 30 seconds</a> <a href="https://www.businessinsider.in/business/startups/news/ronnie-screwvalas-upgrad-is-now-worth-more-than-2-billion/articleshow/92227976.cms">Ronnie Screwvala's UpGrad reportedly worth over $2 billion after fund infusion by Lakshmi Mittal and Sunil Bharti Mittal</a>

You Searched For "monsoon 2022" and got 9 results

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