-The Economic Times A change in the national accounts, slated to take place sometime in the next two years, will show that a resurgent farm sector is now the second biggest contributor to the economy, displacing manufacturing and financial services. The unexpected reversal is not just a statistical artefact. Instead it is an outcome of a change in the terms of trade, the price of agricultural produce compared to industrial output since...
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Sowing of paddy picks up -Gargi Parsai
-The Hindu Sowing of kharif paddy has improved thanks to rain in some parts of the deficient areas, but it is still lower by 11.40 lakh hectares as compared to last year. If compared with last year’s sowing — a record foodgrains production year — at this time of the year, the area under paddy, pulses, coarse cereals, oilseeds and cotton is still lower. An inter-Ministerial group that reviewed the situation on Friday...
More »PMEAC Estimates 0.5% Farm Growth for 2012-13
-PTI Prime Minister's Economic Advisory Council today said poor monsoon is likely to pull down farm sector growth rate to 0.5 per cent in the current financial year, a projection that is even lower than in 2009-10 when monsoon was the worst in 28 years. The growth in the agriculture sector was one per cent in 2009-10 when production had fallen by 16 million tonnes due to poor monsoon. As many as...
More »Deficient monsoon to add to food, non-food inflation: CMIE
-PTI The monsoon rains, which have been deficient by about 21 per cent this season, are likely to spur prices of food and non-food articles, economic think tank CMIE has said. "We expect the South-West monsoon to remain deficient and the major crop production to decline by 2.3 per cent. This decline in output of major crops is expected to add to the already high inflation seen in food articles," the Centre...
More »Low monsoon rains in India means less rice for the world in 2012–UN agency
-The United Nations The United Nations Food and Agriculture Organization (FAO) said today that global rice paddy production for 2012 is expected to be lower than originally expected, owing to below-normal monsoon rains in India. The July 2012 issue of the Rice Market Monitor, released by FAO today, says that production is expected to total 724.5 million tonnes – a 7.8 million tonne downward revision compared to the original forecast in April....
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