-The Economic Times This is the time of the year when the country's weakest spots are exposed; despite our high growth and emerging-economy status, we continue to depend on the rains to boost rural incomes and provide a cushion in a slow economy. All eyes are on rainfall in July, which is crucial for the kharif crop that accounts for about half the food grain output. The consequences on inflation are, of...
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June rain deficit at 31%, monsoon in crucial phase
-The Times of India The monsoon entered its second month carrying a big rain deficit of 31%, as on July 1, with Met officials still hopeful of good rains in July and August. The next few weeks are crucial as the monsoon's performance in this period could dictate whether the government would need to respond with special measures. India Meteorological Department officials, who till last week were confident that the monsoon...
More »Worst floods in Assam since 1998, toll mounts to 22
-The Hindustan Times The flood situation in Assam worsened on Thursday with new areas coming under water and the toll reaching 22. Altogether, 21 districts have been affected following the week-long incessant rains. The river has breached embankment at five places, affecting 1,744 villages across nine districts and 70,000 hectares of crop land. The situation in Kamrup, Nalbari and Bongaigaon in lower Assam worsened on Thursday, after the tributaries of Brahmaputra breached their...
More »Rain deficit: Jobs, farming, economy under a cloud-Zia Haq and Gaurav Choudhury
-PTI India’s monsoon, vital for Asia’s third-largest economy, has been 22% deficient till June 26, official data showed, adding to the government’s worries and prompting Prime Minister Manmohan Singh to consult key aides on measures to tone up the economy on Wednesday. In a revised forecast, the Met department predicted the rains would be 96% of the long-term average, lower than its April forecast of 99%. Rainfall is considered normal if...
More »States Asked to Lift PDS Foodgrains Needed For 6 Months
-PTI Faced with acute shortage of storage capacity, the Centre today asked states to lift PDS foodgrains needed for at least six months and build intermediate godowns to ease pressure on Food Corporation of India godowns. "We have requested state governments to offtake at least six months of foodgrains needed for PDS. Our storage capacity of FCI is 64 million tonnes and our present stock is about 82-83 million tonnes," Minister of...
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