What it is? The deficit rainfall this monsoon season in India.
Why is it important? It’s the worst in six years. 80% of annual rainfall happens during the four-month window between June and September, and a deficit will directly impact agricultural production and rural income.
Tell me more: States that have higher irrigation coverage will be able to mitigate the deficit to an extent, and the others will not be. Production of cotton, pulses and oilseed crops will be impacted.
What it is? The increase in bank credit to industry in August 2015 compared to same month year-ago.
Why it is important? Bank credit to industry account for 43% of total loans and is considered a good indicator of growth prospects of industrial sector. Except for four sectors like basic metal, engineering, chemical and chemical products, and gems and jewellery, the credit growth has slowed down. Low inflation can also result in reduced credit demand, as companies would need less working capital. .
Tell me more: Reserve Bank of India reduced its lending rate to banks by 50 basis points on Tuesday. Industry lobby groups have been arguing for lower interest rate to boost the economy.
What it is? The increase in Diesel prices per litre.
Why it is important? The last scheduled revision of price on September 16 was put off, raising question mark whether government is putting pressure on state-run oil retailers from raising prices because of Bihar assembly elections. Petrol prices were left untouched.
Tell me more: Globally, there is a glut in diesel supply as refiners from China are boosting exports because of low domestic demand. This in turn is putting downward pressure on crude oil prices.
What it is? The value of Indian shares that foreign institutional investors sold in september quarter
Why it is important? That’s the highest in the last five years. Indicates the tepid interest in Indian stock markets by FIIs – but it’s really an emerging market phenomenon. Chinese stock market turmoil has made several investors worried, and there is a chance that interest rates in US might rise.
Tell me more: While investors are worried about the delays in economic reforms – from labour to land – India is likely to be viewed favorably by FIIs in a longer term.
What it is? The number of iPhones Apple wants to sell in India in the next three months
Why it is important? It sold just as many in the whole of last year, and shows Apple’s increasing interest in and growing ambitions for India. It has upped it ad budget more than proportionally. It’s launching the latest version of its iPhones – 6S and 6S Plus – on October 16th in India.
Tell me more: Apple sold 13 million phones globally over the weekend, driven by a huge demand in China. Apple has its own retail outlets in China, opening the first one as early as 2008. China has 20 of them now – a fraction of USA’s 266 – but not too far from other leading markets for Apple products. India has none yet.