-Business Standard Interest subvention, crop insurance on the cards The finance ministry is working on a plan to increase the number of workdays in the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) from 100 a year per person per household to 150 in areas receiving low monsoon rain. The government might also provide interest subvention and crop insurance in drought-affected regions through the e-Financial Management System (eFMS). “Since the eFMS contains the data...

-The Financial Express The Narendra Modi government has pledged to employ all machinery at its disposal to deal with a second straight year of deficient monsoon. The Narendra Modi government has pledged to employ all machinery at its disposal to deal with a second straight year of deficient monsoon and denied an impending distress in the vulnerable pockets of the country, but a dispassionate look at the ground situation would show there...

-Livemint.com In summary, it is hard to escape the macroeconomic consequences of an agriculture shock, notwithstanding fluctuation-smoothing strategies The monsoon forecast, close on the heels of the Reserve Bank of India’s (RBI) monetary policy review, has turned all eyes to the farm sector. If the actual out-turn matches the India Meteorological Department’s (IMD) predictions — seasonal rainfall at 88% of the long-period average (LPA) for 2015 — it would be on...

-Livemint.com Politicians prefer a short-term response over a more nuanced, structural solution to the problem of rural distress Confirming everyone’s worst fears, last week the India Meteorological Department (IMD) forecast a deficient monsoon this year. The next day, some of the newspapers wrongly reported it as a drought (guess breathless reporting is no longer a preserve of the electronic media), adding to the disappointment of the Reserve Bank of India’s (RBI’s) refusal...

-Hindustan Times Policy makers have no control over fickle weather whims and complex forecasts. Regardless of the eventual course and quality of summer rains brought on by drafts of breeze that stream 8,000 km from the southern Pacific, the early predictions did give an early heads up of what was likely in the next few months. Yet, every drought year, India’s response to deal with scanty summer rains has been knee-jerk, marked...