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agriculture

cent) and services(8.3 per cent). The on all fronts. Earlier this year, backed by and the ruling parties take the credit of
economists endorse that almost 52 the prediction of Indian Meteorological framing suitable policies and woo the
per cent of the cropped area in India Department (IMD) of a normal rainfall voters. On the flip side, a deficit monsoon
remains without irrigation and some this season (June to September 2018), the may also turn the tide in their favour by
areas are chronically water stressed. The Union Ministry of Agriculture has set a announcing doles and financial stimulus
share of canal in net-irrigated area has tentative target of 283.7 MT of food grain packages to gratify voters.
declined from 39.8 per cent to 23.6 per production for next year. This indicates a The former Governor of Reserve
cent and at the same time, underground 4MT increase from 279.51 MT (the third Bank of India D Subbarao had said that
sources have increased from 29.7 per advanced estimate of country’s food RBI chases the monsoon like millions of
cent to 62.4 per cent between 1950-51 grain production for the crop year July farmers in the country as monsoon per-
to 2012-13. This describes the increas- 2017-June 2018). The Union Agricul- formance is an important factor in deter-
ing dependence of farmers on rain-fed ture Minister Radha Mohan Singh had mining the RBI policies. The food infla-
agriculture. informed that the country was able to tion is directly related to a good harvest
A good monsoon not only irrigates save 9,775 cr in foreign exchange with and a good harvest ensures moderate
the field crops but also fills the reser- the help of record output of pulses. rate of inflation to sustain the desirable
voirs for the rabi crops and recharges the A good monsoon, coupled with per- growth rate in the economy.
underground water. According to Cen- fect market conditions and proper For Corporate sector, there are more
tral Groundwater Board, the ground implementation of farmer welfare than one benefits of normal rain. On one
water situation in the states of Ahdhra hand good rains spur the production-
Pradesh, Gujarat, Haryana, Karnataka, keeping price of inputs in control; at the
Punjab, Rajasthan, Tamilnadu and Tel- Rural sector has same time it invigorates the demand
engana has reached a critical level. The in rural and semi-urban areas. A good
monsoon plays a vital role in recharge tangible effects of cotton crop this year may revitalise the
and replenish of underground water. monsoon but its textile sector (ginning and spinning) as
Monsoon rains are essential, not only the demand of cotton in global market
for agriculture but for the economy of intangible effects are (especially from China) is expected to be
the country as a whole. Timely arrival all pervasive — from high, informed a Gujarat based trader.
of monsoon and equitable distribution This will enable the mills to run at full
of rain ensure the income generation business, economy, capacity thus cutting average cost of pro-
in hinterland and adequate availability duction along with higher employment
of raw material for the textile and food and policy making generation.
processing industry. to politics The corporate sector is also busy
Rural sector has tangible effects of drawing up plans to cash in good mon-
monsoon but its intangible effects are soon. The automobile manufacturers
all pervasive — from business, economy, schemes are the necessary ingredients (two wheelers, tractors), agriculture
and policy making to politics. The mon- for actual well-being of the farmers and implements, fertilisers, FMCG, tour-
soon may not have any direct bearing on prosperity of the nation. ism and hospitality all are keeping their
poll outcome but it plays a vital role in the The acute agricultural distress, farm- hopes high post the revival of monsoon.
penultimate election year; particularly ers’ unrest, growing number of farm- The banking sector of the country, that
in a country like India where the largest ers’ suicides in the country may abate is under an appalling fund crunch due to
section of voter hails from agricultural for some time in the wake of favorable colossal NPAs in general and debt waiv-
backdrop. climate conditions. ers announced for the agriculture sector
The recent announcement about the According to the sources in Meteoro- in particular also feels the pinch of any
revision of Minimum Support Price of logical Department, a rainfall deficit of discrepancy in monsoon. The good mon-
the 14 kharif crops may bear fruit only if up to 19 per cent is considered normal soon translates into credit expansion and
the rainfall is adequate. The ruling NDA presuming the standard deviation and smooth repayment and vice-versa.
alliance has evidently played a political error due to a large area under rain. He Monsoon is the single common factor
card by substantially revising the MSP told that reservoirs at most of the places in the life of every individual Indian and
of crops and the procurement agencies were filled up to the capacity and there every interest group. Every citizen of the
have also been given an indication to are few more weeks to go, so there is no country stands to gain from monsoon
pull up the socks. An elusive monsoon, need to worry. rain but its richest dividends would be
at this juncture may smash the hopes Whether floods or draughts, political reaped by the incumbent government in
of the ruling Bharatiya Janata Party and parties explore the silver lining in every the penultimate year of general elections.
its partners. If the monsoon remains situation. If monsoon is conducive, per-
consistent, this will propel sentiments ceptions are positive, businesses are up letters@tehelka.com

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