Monthly Survey of Business Conditions in India July 1948

On short-covering and trade support the market recovered and the anticipated delay in the arrival of the new cotton crop due to rather late start of monsoon and.encouraging spot advises helped the process of recovery and the September delivery was quoted at Rs. [...] The market was weak during the 3rd and a greater part of the 4th week largely due to the fact that the Seeds Traders Association clarified in their meeting held on the 15th that for orders issued in the Nixam's Dominions the receivers would have to pay in Indian currency. [...] The rise in the index number of food articles was the highest during the period under review being 15 1. The rise in the index number of semi-manufactures was almost of the same magnitude being 14.8. [...] The following table gives the index numbers of the various commodities during the period under review and for the corresponding period of the last year :- Index Numbers of wholesale prices by groups and sub-groups of commodities in July 1948.