-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...

-The Hindu This year, not only did the monsoon reach India a few days late but its progress thereafter has been alarmingly lackadaisical. While Assam has been deluged and is reeling from the resulting floods, over 85 per cent of the country is suffering from far too little rain. The result is that the nationwide rainfall deficit stood at a grim 29 per cent at the end of June. Rainfall data...

-Live Mint Realized prices for the farm sector continue to soften even though the government has raised the minimum support prices by over 20% Like every year the government has hiked minimum support prices to help the farmers realize good returns in early June, but India’s rural growth story is expected to run out of steam because of falling realizations of farmers and limited policy support, according to a recent report by...

Pointing out that fiscal deficit was a cause of concern, C. Rangarajan, Chairman of the Economic Advisory Council to the Prime Minister, said on Friday that action on reducing fuel and fertilizer subsidies would be taken “as early as possible.” “I would not like to put a time frame, I can only say that action will be needed and therefore will be taken as early as possible,” he told journalists on...

Prime Minister Manmohan Singh's direct involvement in the finance ministry has renewed reform vigour among officials, who plan steps to reform fuel pricing and accelerate domestic Oil exploration, government and industry officials said. According to officials fuel pricing reforms are expected after mid July post Presidential poll, which would include a hike in diesel rates by atleast Rs 3 per litre and limiting highly subsidized cooking gas cylinders to four refills...