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....

-The Hindu Repayment of all cooperative crop loans to be staggered The State government on Tuesday announced in the Legislative Assembly that there would be waiver of land revenue collection in all the 123 drought-hit taluks encompassing 24 districts of the State, with immediate effect. Chief Minister D.V. Sadananda Gowda, replying to a discussion (initially sought to be taken up as an adjournment motion) on the drought which was brought on by deficient...

-The Business Standard Implementation of the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), a flagship programme of the Central government to alleviate poverty, has resulted in an increase of up to 20 per cent in the cost of farm production in Karnataka. It has also created a shortage of labour in the agriculture sector in the state. According to a study conducted by the Bangalore-based Institute for Social and Economic Change...

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...

This is the season to count blessings. India's greatest blessings are its adherence to the democratic system of governance, an independent judiciary, a free and fearless media, and an Election Commission that inspires confidence. I hope that soon India will have an independent and effective Lokpal, which will pave the way for a corruption-free India, a pre-requisite for a hunger-free India. The other major paradigm shift observed in recent years is...