Monday, March 4, 2024

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Weak monsoon due to El Nino stokes fear of food inflation and poor harvest

NEW DELHI, OCTOBER 3: The spectre of a spike in food inflation and rural income getting impacted hangs over the economy with monsoon rains recorded at a 5-year low and the acreage of pulses, edible oil and cotton falling below last year. The drop in reservoir levels also adds to the concern of the policymakers as the rabi crop, primarily wheat, depends heavily on irrigation. The monsoon rainfall this year is the lowest since 2018 because of El Nino The India Meteorological Department said August was the driest month in...