-Peoples' Dispatch A convergence of factors such as extreme heat waves, melting glaciers, and heavy monsoon rainfall explains the scale of floods in the country. All these factors are connected to climate change Floods have devastated Pakistan this year, with 33 million people affected and more than 1,200 killed. Rivers breaching their banks coupled with the bursting of glacial lakes inundated almost one-third of the country, causing a massive economic loss. Recovery...
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Realistic analysis shows that the Indian economy has simply taken little steps in Q1 instead of a quantum leap
There is euphoria abound about India's growth performance during the first quarter of the current fiscal. As compared to the corresponding period last year, the year-on-year (y-o-y) GDP growth in the first quarter (Q1) of 2022-23 is down. However, one should take into account the fact that the high growth performance of the real GDP in Q1 of 2021-22 was due to the low base in the corresponding period of...
More »Rare 3rd consecutive La Nina event underway, could impact agriculture -Himanshu Nitnaware and Shagun
-Down to Earth Southwest monsoon will likely extend till October, with detrimental impacts on Indian agriculture Australia’s Bureau of Meteorology (BOM) predicted August 25, 2022, that a third consecutive event of La Nina could be underway, leading to additional rainfall along its east coast this summer. The BOM predicted a 70 per cent chance of the La Nina event. However, the United States and UK weather agencies have claimed that the phenomenon is...
More »Public sector banks have ensured financial inclusion, finds a new empirical study
Are public sector banks (PSBs) important for the economy? Have the PSBs served the purpose for which they were created? Could the PSBs compete efficiently against the private sector banks (PVBs)? These are some of the questions, which have been answered by a chapter in the RBI Bulletin's August edition. Efficiency of PSBs Co-authored by Snehal S Herwadkar, Sonali Goel, and Rishuka Bansal (2022) of the Banking Research Division, Reserve Bank of...
More »Monsoon 2022: Jharkhand farmers give up on paddy harvest due to scanty rains -Md. Asghar Khan
-Down to Earth Lowest amount of rainfall in the last decade; climate change to blame, says Met Paddy cultivation in Jharkhand this Kharif season has taken a huge hit, with most farmers expecting a meagre yield. Monsoon 2022 saw a massive deficit in rainfall — the lowest in the last 10 years. “I doubt I can harvest even a kilogramme of yield this year,” Mahendra Prasad told Down To Earth. The farmer in...
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