Parabhava year will bring good rains, economic growth: Somayaji | Bengaluru News

Sringeri Sharada Peetham Dharmadhikari Daivajna KN Somayaji said Parabhava Nama Samvatsara, the Hindu New Year beginning on Ugadi on Thursday, indicates a bright and promising future for India.Explaining the astrological outlook for the year, Somayaji said Parabhava Samvatsara will be an Adhika Masa year with 13 months, and notably no eclipses will occur during the entire year. He clarified though Amavasya continues until 6.42am on March 19, there is no confusion and the entire day will be observed as Ugadi.He predicted that the IT industry will continue to maintain demand, and the impact of artificial intelligence (AI) on jobs may not be immediate, though some job losses are possible. Manufacturing industries are also expected to increase their workforce.Somayaji said good rainfall across the country, including spells of excess rain, is likely and will boost agricultural production. Food grains and oilseeds are expected to record good output. However, sugar industries and sugarcane farmers may face some setbacks and conflicts during the year.According to him, prices of steel, cement, gold, silver and copper are likely to rise, while the share market is expected to gain strength, with several IPOs likely to succeed and the secondary market witnessing growth. Industries such as pharmaceuticals, chemicals and mining, including iron ore, are expected to perform well.Engineering industries, including automotive, components and machinery manufacturing, may see a boost in production and exports. Domestic retail consumption is expected to remain strong, while exports could show mixed results.He said sectors such as hospitality, tourism and real estate are likely to witness a boom. India is also expected to attract higher foreign direct investment, while govt monetisation activities may increase. Power production is expected to remain satisfactory and petroleum production and distribution may improve.However, Somayaji cautioned that the year could also witness severe winter, heavy rains and political clashes, with possibilities of communal tensions in parts of northern and western India. Bordering countries may continue to create disturbances, though India is expected to successfully counter them.He also noted the possibility of a major scam involving political leaders or bureaucrats and the demise of a prominent national leader, which could significantly influence national politics.Overall, Somayaji said the Parabhava year indicates a bright and promising future for India, with growth expected in sectors such as dairy, animal feed, meat and leather exports. However, the commercial education sector may see stagnation, and student unrest may occur in some parts of the country. He also warned of major fire, rail and road accidents in the early part of the year.