- As we are aware, what hasn’t changed in the context of the Indian growth story on the back of the present-day modernity-defined forward march is our reliance on agriculture-based activities. Undoubtedly, we as a nation have progressed tremendously over the last few decades on the back of some of the most epochal innovations, inventions, initiatives, and developments, especially our strong presence in the cutting-edge information technology-related applications/solutions. Our humongous talent pool of techies has not only formed a formidable force within the country but also has spread around the world, heralding a services success story that very few can match. However, our growth story is still a work in progress since more than 50% depend on agriculture.
PC: Outlook Business
- Of course, successive Union Governments and State governments have made concerted efforts to wean away the majority population actively pursuing agriculture, even as the services sector has an overwhelming presence of late. In fact, manufacturing hasn’t taken off as expected and continues to progress at a snail’s pace, much to the chagrin of finance experts and economists. Little wonder that we look forward to a favourable monsoon since most of our Kharif crops are dependent on the Southwest monsoon rains from June to August. Unfortunately, the El Niño effect this year has put paid to our plans for a favourable Southwest monsoon, which would have greatly mitigated the country’s ill effects of the weather phenomenon. What do we do?
PC: KNN India
- This year, the monsoon arrived a bit late, had a weak beginning, and has, welcomingly, gathered pace in the first week of July. However, the usual June month witnessed underwhelming rains in the Southern states. Thankfully, the monsoon rains have shown encouraging signs in the last few days, with the central region receiving copious amounts of rain expected to reduce the projected deficit from 40% to around 23%. The moot point to ponder here is whether this deficit would have any cascading effect on the GDP growth factor since the whole global economy is under the pump courtesy of the Middle East/West Asia crisis. Thankfully, the ceasefire announced by the warring factions would help settle the mounting challenges to a manageable level.
PC: Indiaspend
- The experience of deficit rainfall suggests a direct effect on the agricultural sector since the sowing season for the Kharif crops coincides with the Southwest monsoon. With the monsoon playing truant in the Southern and other regions of the country, the State authorities must be gearing up for the challenges arising out of the situation. The foremost concern for the government must be to protect the farmers’ interests. Most importantly, the availability of drinking water for the metro cities and other regions must also be prioritized. Most of the reservoirs are showing depleting water levels. Unavailability of adequate water directly affects economic activities, including infrastructure developments. It’s time the authorities gear up for an emergency situation.
