I have read that the time of day for performing a raga is taken very seriously and is always considered in performances. Does this apply also to listening to recordings and practicing ragas?
No, and in fact it is not as important in playing anymore. Ravi Shankar and othr musicians have commented that over time, things have changed due to recording and concert schedules. These dictate when a sitarist actually plays. So, there is more flexibility with samay for playing a raga so that they can present them to anaudience or on a recording.
