Moody's Analytics says Indian economy is expected to grow at 5.5 per cent this year as \"turbulent\" global conditions, domestic policy \"mis-steps\" and poor monsoon are weighing on investor confidence and demand.

So far 27 companies have signed the pacts, which will also be tweaked in line with the new changes suggested by Coal India Ltd (CIL).

The Reserve Bank of India may find it difficult to cut key lending rates in its policy review on July 31 as being demanded by the industry with a deficient monsoon adding to its inflation worries.

The Punjab government has also ordered a complete ban on the use of air-conditioners in all government offices, boards and corporations in the state with immediate effect.

The government on Friday said monsoon deficiency is at 21 per cent so far and expressed concern about the slow pace of sowing of coarse cereals.

Although the monsoon season has begun on a weak note, any improvement will cheer the markets. Sectors related to agriculture such as fertilisers, tractors and those dependent on rural income like fast moving consumer goods, or FMCG, will be direct beneficiaries.

With the monsoon rains below normal so far, commodity prices are rising. Should you invest?

Stocks of consumer goods companies, especially those exposed to rural demand, may witness some pressure in sales growth since a bad monsoon will mean lower rural incomes and, thus, lower rural spend.

The BSE Sensex ended the first quarter of the current financial year virtually where it began. However, beneath the calm, there has been definite movement when it comes to individual stocks.

The lull in the south-west monsoon, which has virtually scalded Delhi and much of north India, is expected to be over by Friday. But the outlook for the rest of the season does not appear to be bright.

Agriculture Minister Sharad Pawar said on Monday that though monsoon may be playing hide and seek this year, India has not reached the drought situation yet.

The monsoon in June was 29 per cent below its 50-year average for the month. The full impact of inadequate rainfall will only be visible over the next few months but analysts are already pointing out that the monsoon's importance has diminished.

Monsoon, the life-line of Indian agriculture, has covered the entire country but the rains are still deficient by 23 per cent, a top official of India Meteorological Department said today.

The monsoon's worst start in three years is threatening crops from rice to sugarcane.

The agriculture minister said the rainfall deficiency has affected sowing of coarse cereals, but situation in paddy is \"not worrisome\".

The coal crisis has caught the government and power developers unawares. No power developer is questioning the potential of the Indian market, but a great deal of scepticism has crept in. The only way it can be dispelled is by assuring developers of a steady supply of coal over the long-term.

Rains in July this year are likely to be 98 per cent of the long period average, while the rainfall in August is forecast to be 96 per cent of the LPA.

The turmeric capital of the country is in the grip of a drought and a price crash. But real estate is buoyant.

Weather officials said the rains were expected to improve in next week. The country received 15.3 mm rainfall from June 7-13 as against 30.6.9 mm, the average rainfall considered as normal for the period.

CIL has brought down the penalty it has to pay if it does not fulfill 80 per cent of a power plant's fuel requirements from the government - set 20 per cent of the cost of the shortfall to a piddly 0.01 per cent.