-Livemint.com Amid all the gloom, the lower inflation rate and commodity prices could bring some respite With the southwest monsoon retracing, concerns about the deficiency of rainfall and its impact on the economy are increasing. The 15% rainfall deficit makes it the second consecutive year of less-than-normal monsoon dotted with some unseasonal showers. Together, this would have multiple ramifications on economic growth. Both macroeconomic and sectoral analysts have turned cautious and some...

-Livemint.com It is hypocritical of the US to give price support to its farmers while denying it to the world’s poorest farmers The tenth ministerial conference of the World Trade Organization (WTO), to be held in Nairobi on 15-18 December, is already mired in discord, with negotiators unable to agree on a mandated post-Bali work programme. At issue are US and European Union (EU) proposals to scrap the texts agreed to thus...

-Livemint.com Water availability has not deteriorated only because of the poor monsoon Amartya Sen showed in his seminal work on famines that mass starvation is not necessarily the result of inadequate food supply. He opened up new areas of inquiry that focussed on what have come to be known as entitlement failures. Sen has famously argued that human mistakes forced people into starvation in Bengal in 1943 even though food production in...

-Business Standard Monsoon starts withdrawing from northwest, complicating projections for kharif output Monsoon has started withdrawing from the northwestern region of the country, India Meteorological Department (IMD) said on Friday. “The southwest monsoon has withdrawn from western parts of Rajasthan,” the department said. The conditions are favourable for further withdrawal of the monsoon from northwest India in the next three-four days, it added. According to economists, it is too early to predict the impact...

-Livemint.com With barely weeks left for the to begin its retreat, it is emerging that India will close the year with a deficit much higher than what was initially forecast  Another year and another bad monsoon. What were the odds? The India Meteorological Department (IMD) forecast this year’s monsoon—like last year—to be below normal. At that time, we all hoped that the IMD had got it wrong—the economy was on the...