Daily Management Review

India is waiting for heavy rains to revive weak economy


07/11/2019


India needs heavy rainfall during the monsoon season. Rain could stimulate agricultural production and prompt growth of the third largest economy in Asia, but so far the precipitations have not been enough, according to CNBC.



CIDSE via flickr
CIDSE via flickr
In June, the first month of the monsoon season, the total rainfall in India was 33% below the average for 50 years, said the Indian Meteorological Department. The rains intensified in July, and the total rainfall this month will affect agricultural production in India and overall economic growth, analysts say.

"The main sowing takes place in July. This is a critical month of the monsoon season for the agricultural sector, when more than 50% of the crop is sown during the Harif season," Citi analysts wrote last week. Crops grown during the Harif season include rice, corn, sorghum, and cotton.

India’s agricultural sector is of great economic and political importance. According to Rajiv Biswas, chief economist for the Asia-Pacific region at IHS Markit, this industry accounts for about 14% of the country's economy and 42% of total employment.

Biswas noted that about a third of the manufacturing industry in India, which accounts for about 18% of the country's GDP, is associated with the processing of agricultural products into food. Since about 55% of India’s arable land depends on rainfall, the monsoon season can affect economic activity in the agricultural sector and related industries.

source: cnbc.com






Science & Technology

Financial giants and US government turn to quantum computers

Long Way To Go For Coronavirus Vaccine, Say Drgumakers

Google's subsidiary launches recognition service for photoshopped images

Unapproved Drug For Coronavirus Treatment And Testing Given By Gilead Sciences

Live Facial Recognition Cameras Will Be Used By London Police

Driverless Vehicle For Its Ride-Sharing Service Unveiled By GM’s Cruise

Amazon will allow customers to pay with palms instead of cards

Complete Computer System For Self Driving Cars Launched By Qualcomm

In A Lifetime We Could Accumulate 20Kg Micro-Plastic In Our Body

Creator Of The First 'Gene-Edited' Babies Of The World Gets 3 Year Jail Term In China

World Politics

World & Politics

Ex-head of Mexican Pemex will be transferred to Madrid prison

China Releases First Detailed Study Of Coronaviurs Attack, Finds Elderly At Most Risk

EBA Finds Alarming Compliance Results For Gender Diversity Among Banks

Record high temperature observed in Antarctica

Venezuela to initiate international litigation against USA because of sanctions

Coronavirus Death Toll 204 In China, US Asks Americans Not To Go China

Hong Kong protesters block railway to mainland

Heavy rain kills 47 people in southeast Brazil