A recent press release from the Ministry of Agriculture shows that the area affected by recent rains and hailstorms is estimated to be 189.81 lakh hectares (on 24 April 2015), which is nearly double the total area affected that was earlier estimated on 16 April 2015. (See the link below). Experts argue that such extreme weather events may severely damage food economy of the nation, apart from breaking the spirit...

-Business Standard A clear picture is likely to emerge only towards the end of June Mumbai: Rural distress owing to heavy unseasonal rains in March and the prospects of less-than-normal monsoon have made bankers “a cautious lot” at the start of this financial year. However, it is too early to conclude that the impact of rains, or the lack of it, would be bad. According to public sector bank executives, the assessment for...

-Business Standard/ IndiaSpend.org Complex changes in local and global weather patterns will have severe implications for India's 600 million farming community The unseasonal rain and erratic weather unsettling the Indian farmer—and the nation’s agriculture, economy and politics—are no aberrations. Extreme rainfall events in central India, the core of the monsoon system, are increasing and moderate rainfall is decreasing —as a part of complex changes in local and world weather—according to a clutch of...

-The Hindu Adilabad: Tribal farmers face same adversities which dog ryots of other regions, yet taking an extreme step is rare among them. For a brief while, Pendur Somu, the Gond Patel of Jodeghat village, seemed lost when he was asked why Adivasi farmers do not resort to suicide when in distress. A smile soon broke out on his face as he grasped the significance of such a question. “Can we repay the...

-Livemint.com/ India Ratings Report by India Ratings & Research Non-performing loan ratio of agriculture loan portfolio could double for some banks The asset quality of India’s agricultural credit could be significantly affected by crop damage due to untimely hail and rain in March, according to India Ratings and Research. The non-performing loan (NPL) ratio of the agriculture loan portfolio could double for some banks, though the reduction of overall return on average assets...