Rains arrive in Kerala in time. A good sign of things to come ?
Earlier Monday, India reported its economy expanded 8.6% in the January to March quarter a brisk pace no doubt but it was still dragged down by a feeble 0.7% growth in farm output. European Pressphoto Agency
Agriculture, which accounts for about 16% of Indias gross domestic product, limped through the past year as the worst drought in 37 years shriveled summer sown crops. (Indias financial year starts April 1)
Farm output had actually shrunk 0.2% in the October to December quarter when the overall economy grew 6.5%.Theres a reason to cheer this year as rains have already arrived, said Manoranjan Sharma, chief economist at Canara Bank. Monsoon rains usually arrive June 1 over Kerala and gradually cover the entire country by mid-July. The country gets most of its rain during the monsoon season and more than 60% of its farmland is rain-fed.With every one percent growth in farm output, ov ...more
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