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LATEST NEWS UPDATES | India Inc's big bet on Bharat saving the day -Sayantan Bera

India Inc's big bet on Bharat saving the day -Sayantan Bera

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published Published on Jun 25, 2020   modified Modified on Jun 27, 2020

-Livemint.com

* Rural spending is the only ray of hope for a ravaged economy. But will consumers rise to the occasion?

* The income loss due to 30 million migrant workers returning home is a significant hit to household finances. Moreover, covid-19 has deeply affected an already bruised consumer psyche

The locked rooms lining the courtyard of Dilip Patidar’s sprawling ancestral home once smelled like a spice box. That was some years ago when crop prices had crashed. Patidar, a well-to-do farmer from the agriculturally-prosperous Mandsaur district of Madhya Pradesh, would store most of the harvest, from spices like coriander and cumin to pulses and grains, waiting for better days.

Patidar is familiar with the inherent risks in farming. He has seen bountiful harvests razed to the ground after a night’s freak hailstorm, and the winding queue of vehicles outside wholesale markets—farmers would spend sleepless nights on top of their tractor-trolleys laden with harvest, desperate to sell their garlic and onion despite making a heavy loss. Patidar has learnt to take life as it comes—not to be elated when things fall in place or be crushed by a disaster.

At a time when agriculture offers the only ray of hope for a ravaged economy forecast to shrink by at least 5% in 2020-21 due to the ongoing covid-19 pandemic, it is farmers like Patidar who are expected to do some heavy lifting. After all, the winter harvest of grains and pulses was robust this year and government procurement at support prices is at a record high.

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Livemint.com, 25 June, 2020, https://www.livemint.com/news/india/india-inc-s-big-bet-on-bharat-saving-the-day-11593009631355.html


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