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...

-PTI The Prime Minister's Economic Advisory Council today projected 3 per cent growth for the farm sector in 2011-12 buoyed by record grains output, strong growth in horticulture and animal husbandry sectors. Last year, the agriculture sector had grown by 7 per cent. "The Council expects that in combination with the strong trend growth in horticulture and in the animal husbandry sectors, the overall farm sector GDP growth for 2011-12 will average 3...

Deteriorating weather conditions seem to have triggered serious concern among farmers with their rabi crop of wheat being highly prone to diseases such as yellow rust that strike during this period. Though no case of yellow rust affecting Rabi Crops has been detected in Nainital district, some cases of the disease affecting crops have come to light in parts of Udham Singh Nagar district, officials said. If yellow rust is detected, a...

-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...