Monsoon hits Kerala coast six days in advance
New Delhi: The annual monsoon rains, critical to the health of the economy, has arrived on the southwestern Kerala coast six days in advance, according to weather officials. The June-September southwest monsoon is the main source of water for farming in the country. Agriculture generates about a fifth of gross domestic product.

With nearly two-thirds of India's billion-plus population dependent on farm-related income, the timely arrival and even distribution of the rains play a major role in determining eventual demand in India's economy.

The monsoon usually arrives over the commercial capital of Mumbai by June 10, and in the capital New Delhi by June 29. Most years it covers the entire country by July 15.

Weather officials in April forecast this year's rains at 93 percent of the long-term average, with a 22 percent probability of being deficient.
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Exports up 27 pc in April
New Delhi: The country's exports during the inaugural month of the current fiscal have registered a robust 27 per cent growth in dollar terms, with imports, too, showing a growth of close to 21 per cent.

According to the provisional foreign trade data based on figures compiled by the Directorate-General of Commercial Intelligence and Statistics, Kolkata, India's merchandise exports in the first month of the current financial year (April 2006) are valued at $8,346.79 million, which is 27.08 per cent higher than $6,567.99 million (provisional) during April 2005.

However, a caveat is in order as the final reconciled figure of exports for April 2005 is pegged a tad higher at $7,627.20 million or Rs3,3362.30 crore.

In rupee terms, the exports were Rs37,518.06 crore, which is 30.59 per cent higher than the provisional value of exports during April 2005. The Union commerce and industry minister, Kamal Nath, said the growth rate witnessed in the last two years is not only being maintained but accelerated.

Imports during April 2006 are valued at $12,560.93 million (provisional) representing an increase of 20.52 per cent over the level of imports valued at $10,422.54 million (provisional) in April 2005. The final reconciled figure of imports for April 2005 is $10,764.70 million or Rs47,086.10 crore.

Oil imports during April 2006 are valued at $4,159.15 million, which is 34.65 per cent higher than oil imports valued at $3,088.85 million in the corresponding period last fiscal. Non-oil imports during April 2006 are estimated at $8,401.78 million, which is 14.56 per cent higher than the level of such imports valued at $7,333.69 million in April 2005.

The trade deficit for April 2006 is estimated at $4,214.14 million, which is higher than the deficit of $3,854.55 million during April 2005, an official release issued here said.
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Inflation moves up to 4.32 pc
Mumbai: Inflation based on the wholesale price index moved up to 4.32% for the week ended May 13 from the previous week's level of 3.96%.
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CII welcomes formation of Raksha Udyog Ratnas for Defence sector
New Delhi: The CII has welcomed the formation of Raksha Udyog Ratnas (RURs) for the Defence sector by the Ministry of Defence.

These RURs or industry champions will be associated in Defence acquisition plans undertaken by the Government. They will also be treated at par with Defence PSUs, which are selected by the Government for receiving technology and undertaking licence production with transfer of technology.

A selection committee under the Chairmanship of Prabir Sengupta, Director of IIT, will select RURs as per the guidelines issued by the Ministry.
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