This is the second consecutive week when food inflation has declined. On annual basis, potato prices eased by 49.69 per cent and onions became cheaper by 6.93 per cent.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
According to the first advance estimate released by the ministry last month, rice production was projected to rise to 80.41 million tonnes in Kharif season of 2010-11 crop year (July-June) against 75.91 million tonnes in the last Kharif.
Kerala, Andhra, Tamil Nadu and Kerala are facing a severe drought this year, affecting livelihoods as well as lives.
The evolution of Bt created additional value worth Rs 40,000 crore until 2008.
Prime Minister Dr Manmohan Singh will meet the chief secretaries of all states in New Delhi on Saturday to discuss the drought-like situation in the country.The meeting will be attended by Agriculture Minister Sharad Pawar and Cabinet Secretary K M Chandrasekhar. Issues like the status of monsoon, the sowing operation in the ongoing kharif season and the availability of vital farm inputs like seeds, fertilisers, water and electricity will be reviewed.
At a press conference after a meeting of the party's senior leaders, K C Venugopal said the Congress will also launch a massive signature campaign in which it aims to collect two crore signatures from farmers and the poor people against farm bills.
Planning Commission Member Abhijit Sen on Wednesday said food inflation is expected to decline to 4 to 5 per cent by November from the current over 16 per cent after the arrival of Kharif (summer) crops.
The employment that is returning is mostly essential services required by Indian households. Most urban Indian households cannot function without a retinue of maids, cooks, drivers, cleaners, notes Mahesh Vyas.
Food inflation, which has declined 7 weeks in a row, was at 10.15 per cent for the week ended November 13.
Rajan said that demand needs to be reduced without having severe effects on investment and supply.
According to state government sources in Gujarat, cotton sowing was only 9,339 hectares or 0.37% of the normal three-year average sowing in the first week of this month
The committee would submit its report in the next two weeks.
The overall deficiency in the cumulative monsoon rainfall since the beginning of the season has shrunk from about 46 per cent in the end of June to 24 per cent by July 16. The key agricultural belt of north-western India is still facing about 44 per cent rainfall deficiency, though there have been some welcome showers throughout the region in the past couple of weeks. The north-eastern region is also facing about 40 per cent rain deficieny.
India's foodgrain production is estimated to decline by 7.51 per cent to 216.85 million tonnes in the 2009-10 season mainly due to a fall in summer output owing to the worst drought in 30 years.
The Election Commission on Monday issued a notice to Union Agriculture Minister and Nationalist Congress Party supremo Sharad Pawar for alleged violation of the Model Code of Conduct for the October 13 assembly elections in Maharshtra.
Cabinet sub-committee to review the situation and take necessary steps.
Food grains production in the country would go down by 10-15 per cent in the current fiscal due to deficient rainfall, an Agriculture Ministry official said.
The services sector, which plays the biggest role in shaping the economy, is facing loads of issues currently. The largest segments, financial and real estate, are struggling to cope with bad debts and low demand for houses.
The southwest monsoon season was deficient by 16 per cent.
The government's decision to downplay the monsoon's failure has only worsened its credibility and will lead to a worse panic
These decisions were announced by food and agriculture minister Sharad Pawar in the Rajya Sabha on Friday, a day after Prime Minister Manmohan Singh and his cabinet colleagues were briefed on the monsoon situation and Kharif sowing. Allaying fears of shortage of foodgrain, Pawar said, "Stock position is quite comfortable. We have sufficient stock position for 13 months in our kitty".
Higher prices of onion and other vegetables and fruits pushed up inflation to 6.46 per cent in September.
The Budget allocation for Ministry of Agriculture and allied activities has grown by 114% since 2010-11
'I am sceptical of the Indian economy returning to a sustained high-growth trajectory any time soon'
Though three crops of onions are raised in a year - early kharif, late kharif and rabi - their harvests are not evenly spread out.
The total water stock in the country's 81 major reservoirs is still 57 per cent of their live storage capacity, falling 12 per cent short of the normal level for this time. This is a cause for concern for both irrigation and hydro power production.
A five-seven per cent agriculture growth in 2013-14 would mean farming might exceed the 12th Five-Year Plan annual growth target of four per cent, if the trend continues.
The Consumer Price Index hit the lowest in six months in March at 4.83 per cent.
The outlook of a negative growth in agriculture comes on the back of the Indian Meteorological Department's revised rainfall forecast and uncertain impact of mitigants such as ground water harvesting and modification of cropping patterns.
Prices of agricultural commodities have risen 23 per cent so far this month.
That day is not very far when farmers will get double their present income, says PM.
The finance ministry on Tuesday cited "green shoots" of recovery in agriculture, manufacturing and services sectors, and said the prompt policy measures taken by the government and RBI have helped reinvigorate the economy with minimal damage. Stating that the agricultural sector remains the foundation of the Indian economy, the ministry said that a normal monsoon, as has been forecast, should support the rebooting of economy.
The monsoon situation and its consequences for different sectors of economy was reviewed in a high-level meeting chaired by Prime Minister Manmohan Singh on July 12.
They are worried that the Kharif crop may not be sown at the usual time in June, which accounts for 163 mm of 890 mm for the entire monsoon season. They\nfear that they may be forced to sell their land in order to repay their debts and\nmove to cities like Mumbai or Delhi in search of work as labourers.
The prolonged break in the rainy season that has caused widespread concern over the delay in kharif sowing is finally ending with the monsoon likely to advance into Mumbai and adjoining parts of Maharashtra in two or three days.
The alleged 'water blockade' by India could adversely affect kharif crops, particularly cotton and sugarcane that are in maturity stage and require final watering, and the sowing of rabi crops early next month, sources told the Dawn newspaper.
As of the week ended July 2017, the unemployment rate was 3.1 per cent. This is the lowest unemployment rate recorded. Rural unemployment was also very low at 2.8 per cent.
The irony of this scheme to benefit farmers is that it could add to the problems for the government because the mechanism to procure and store crops like pulses, coarse cereals and oilseeds barely exists.
Procurement by the end of this season is likely to touch a new record of 29-30 million tonnes, surpassing the earlier high of 28.4 million tonnes. The country's rice output in 2008-09 is also estimated at an all-time record of 98.89 million tonnes. Punjab has been the largest contributor to the rice stock at 8.38 million tonnes, followed by Andhra Pradesh, Uttar Pradesh and Chattisgarh. Procurement is up in all top-producing states except in Haryana and Chattisgarh.
