Rabi Crop Area Planted Exceeds 493.6 Lakh Hectares
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New Delhi, Dec 9 (NationPress) The total area sown in this year's Rabi crop season has now exceeded 493.6 lakh hectares, rising from 486.3 lakh hectares during the same timeframe last year, which raises hopes for increased agricultural yield that may assist in reducing food prices.
The acreage dedicated to wheat has grown to 239.49 lakh hectares, compared to 234.15 lakh hectares in the equivalent period from the previous year.
In a similar trend, the area cultivated with pulses has surged to 120.65 lakh hectares in the ongoing Rabi season, relative to 115.7 lakh hectares during the same period last year.
The area designated for Shri Anna & Coarse Cereals has also expanded to 35.77 lakh hectares, an increase from 35.08 lakh hectares during the analogous period last year.
This rise in sown area is anticipated to boost the production of essential food items, contributing to a decrease in inflation within the economy.
Looking forward, food inflation is projected to decline, while the economic growth outlook remains cautiously optimistic for the upcoming months. The agricultural sector is expected to gain from favorable monsoon conditions, higher minimum support prices, and sufficient supply of inputs, as noted in the Finance Ministry’s monthly economic review last month.
RBI Governor Shaktikanta Das remarked last week that “India's growth story is still intact” and that inflation is on a declining trajectory. The RBI Governor expressed optimism regarding the economic outlook, highlighting that “the balance between inflation and growth is well poised”.
The slowdown observed in the Indian economy during the second quarter of 2024-25 is now behind us, with private consumption resuming its role as the primary driver of domestic demand, fueled by festival spending that has invigorated real activity in Q3, according to the RBI's monthly bulletin for November.
The report emphasizes that rural India is becoming a lucrative opportunity for e-commerce firms during this festival season; this momentum is expected to increase further with the significant rise in kharif output and optimism surrounding Rabi production, paving the way for a record foodgrains target for 2024-25, according to the bulletin.
