Last week, the Indian Meteorological Department (IMD) released its first annual monsoon forecast for June-September. Monsoons are likely to be normal with the probability of deficient or excessive monsoons being relatively low, according to IMD. If this prediction comes true, what does this really mean for India's economy? Impact on agricultural output: The first and most important impact is, of course, on agricultural production, especially in the kharif or summer season....
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Drought hits Karnataka, Andhra Pradesh; food prices set to surge by Jayashree Bhosale
Maharashtra teeters on the brink while Karnataka and Andhra Pradesh, two key states contributing significantly to grain production, have already declared a drought, potentially exacerbating agrarian distress and adversely impacting food prices. Supply of pulses, sugarcane, oilseeds, soyabean and coarse grain such as bajra and jowar, is likely to be hit, with production in the rabi season, or the winter harvest, set to decline between 25% and more than 40%, compared...
More »Food inflation fanned by change in dietary habits: D Subbarao, Governor, RBI
-The Economic Times Governor of the Reserve Bank of India, D Subbarao said on Tuesday that India's food inflation was fanned by change in dietary habits. Commenting on high inflation, Subbarao said that underlying drivers of inflation have changed. "India needs to address challenge of food inflation. Food inflation has substantially come down but over the last 3.5 years since 2008-2009, average food inflation has shot up higher than the past 6...
More »States in India: Governance holds key, size is only secondary by Subodh Varma
Are smaller states easier to govern and hence better for the people? The most recent reorganization took place in November 2000 when three mega states - Uttar Pradesh,Bihar and Madhya Pradesh - were sliced up to give birth to Uttarakhand, Jharkhand and Chhattisgarh, respectively. It is more than a decade since then. The new states are now well-established. But, how are they faring compared to the 'mother' states? Has the...
More »Time yet before NREGA's achieves target: PM
-PTI Urging state governments not to 'fail the poor', Prime Minister Manmohan Singh on Wednesday said the country had still to realise the 'full potential' of the National Rural Employment Guarantee Act (NREGA) whose implementation had been 'uneven across states'. "We still have miles to go before we achieve the full potential of this unique legislation in annals of recent history. The performance of the programme, as I have mentioned, has been...
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