Budget 2018-19

  Prediction updated to factor in two weather systems that have a direct bearing on the performance of southwest monsoon. The India Meteorological Department (IMD) on Tuesday upped its 2021 monsoon forecast to 101 percent of the Long Period Average (LPA), meaning most parts of the country can expect to get normal to above normal rainfall. Rainfall between 96-104 per cent of the LPA is considered a normal rainfall. The forecast is with a model error of plus and minus 4 percent. The above normal forecast excludes except parts of East and North-East India. The Long Period Average (LPA) of the four-month southwest monsoon season that starts from June is 88 centimeters. Releasing the second stage forecast for 2021  monsoon season , IMD said that the forecast has been revised upwards due to prevailing neutral El Nino conditions along with neutral Indian Ocean Dipole, the two weather systems that have a direct bearing on the performance of southwest monsoon in India. In its first sta...

  ‘We were lucky that we had scaled up before the lockdown,’ says Nithin Kamath. After building the country’s largest and most-profitable pure-play brokerage, Nithin Kamath, founder and CEO of Zerodha has to stave off pressure from investors who want a piece of the company. In an interview to Samie Modak, he explains why he doesn’t want to take PE money and why Zerodha is not being aggressive when it comes to acquiring new clients. Edited excerpts: Did the broking industry anticipate last year’s big boom? When the lockdown first hit, in our internal meetings we discussed the need to spend the year as a monk and that we need to be frugal. Then the tap just opened up. I don’t think anyone could have predicted what happened last year. Everyone caught off guard. We were lucky that we had scaled up before the lockdown. Other folks, who had to scale up, couldn’t do it during the lockdown as procuring servers, getting lease lines up took extremely long. Eventually, everyone figured a way ...