07/09/2023 09:01 PM | Click to read full article
Much of India’s agriculture prospects in FY24 would depend on the rain that the withdrawing monsoon brings this month and the next. This could save falling yields of crops in peninsular and eastern India, and replenish levels for the rabi crop. Levels are low in 23 reservoirs in these States and have a storage level below 50%. The prospect of a fall in food output is building up inflationary pressures at a time when foodgrains inflation is already in double digits, posing policy challenges.