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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Farmers sell gold on fears of poor crop-Sutanuka Ghosal
-The Economic Times Piyush Khanolkar, a 38-year-old farmer from the Marathwada district of Maharashtra, has just sold off 10 gm of gold which he had accrued over a period of last five years to a local jeweller. With good rains not in sight yet, he has been forced to sell off the gold to create a corpus to meet his family needs in the coming months if there is a crop failure. Prabhu...
More »Shortfall in monsoon rains widens by Ratnajyoti Dutta
-Reuters A shortfall in monsoon rains has widened to nearly 50 percent of average in the past week, making a revival next week crucial for farmers to sow summer-planted crops such as rice, corn, cane, cotton and soybean. The annual rains are crucial for farm output and economic growth as about 55 percent of the South Asian nation's arable land is rain-fed. Farm sector accounts for about 15 percent of a nearly $2-trillion...
More »Monsoon coming soon in north India, says Met Dept
-ANI The monsoon is expected to advance further in northern parts of the country in two to three days, director of Indian Meteorological Department (IMD) S. C. Bhan, assured here on Thursday. Bhan predicted that the monsoon would reach Punjab, Haryana and Delhi within two to three days. “It is expected that incoming two to three days it (monsoon) will cover some parts of southern Rajasthan, some parts of Uttar Pradesh and rest...
More »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...
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