While any loss in production following the dry spell will further hit the growth story, it will also push up food inflation. considerably. Once again the rain gods are playing truant. With 31 per cent shortfall in June, and with an expectation of only 70 per cent of the predicted 96 per cent rainfall for the July-August months, crucial for farming operations, kharif sowings have already been hit. In June alone,...
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Will rains boost the slowing Indian economy?
-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...
More »World braves one of the worst summers; May temperature second hottest since 1880
-The Economic Times It's not just India that is baking. Globally, this seems to be one of the worst summers in recorded history. The global average temperature for May was the second hottest ever since 1880 - the year records were first compiled -- US National Climatic Data Centre (NCDC) has said. Only 2010 witnessed a worse May. The NCDC said such a hot May was never recorded in the northern hemisphere. No...
More »Fear of drought haunts Bihar again
-IANS The spectre of drought is looming large over Bihar, something that state officials have acknowledged. "If the monsoon fails the state in the first two weeks of July, the situation may be near drought," an official here said. Monsoon normally hits the state between June 12 and June 14. But this year, it was delayed by over a week. Soon after the rains began, they have been scanty. The state has received...
More »Deficient rains not worrisome for paddy: Pawar
-PTI Monsoons 31% below average up to July 2 The deficient rainfall during last month has affected the sowing of coarse cereals but there is no cause for worry for the paddy crop, Agriculture Minister Sharad Pawar today said. The monsoon rains have been 31% below average up to July 2, Pawar told reporters here. He said the rainfall deficiency has affected sowing of coarse cereals, but situation in paddy is "not worrisome". Till June...
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