Data recap: Uneven rains, Adani’s capex, wheat stock curbs
NEW DELHI : Every Friday, Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. Despite arriving early, the annual monsoon rains have been deficient in June so far, while the government has imposed stock limit on wheat to control price rise. The Adani Group is planning to nearly double its capital expenditure in 2024-25.
The monsoon season in India is off to a sluggish start despite an “above-rainfall" prediction by the India Meteorological Department (IMD). After arriving ahead of its schedule in Kerala, on 30 May, the progress of monsoon has been uneven. Data from the IMD shows all-India deficiency in rainfall was 17% of the long-period average (LPA) until 27 June.
Of the 36 states and Union territories, 21 are experiencing below-normal rains, with states like Uttar Pradesh, Bihar, Punjab and Haryana, among others, facing large deficiency in rainfall. The Reserve Bank of India (RBI) is facing growing pressure to start easing the monetary policy amid softer inflation from its two rate-setting panel members. Earlier this month, Monetary Policy Committee (MPC) members Jayanth R.
Varma and Ashima Goyal voted to cut the repo rate by 25 basis points against the majority vote of status quo. According to a Mint analysis, Varma has a long record of dissents, mostly on stance, while Goyal is the only other member to dissent albeit fewer times. The Adani Group has planned a capital expenditure of ₹1.3 trillion in 2024-25, which is nearly double the ₹70,000 crore the company had outlined in 2023-24.
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