Rabi Crop Cultivation Area Exceeds 632 Lakh Hectares
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Synopsis
As of January 14, India has seen a rise in rabi crop cultivation, achieving a total of 632.3 lakh hectares. This marks an increase from last year's figures, with wheat and pulses also showing significant growth. Experts predict improved production and a decline in food inflation, contributing to an optimistic economic outlook.
Key Takeaways
- Total area for rabi crops is 632.3 lakh hectares.
- Wheat cultivation increased to 320 lakh hectares.
- Pulses cover 139.81 lakh hectares.
- Food inflation is expected to ease.
- Economic growth outlook remains cautiously optimistic.
New Delhi, Jan 14 (NationPress) The total agricultural area cultivated in the nation for various rabi crops this season has reached 632.3 lakh hectares, an increase from 631.4 lakh hectares during the same timeframe last year, as reported by the Ministry of Agriculture & Farmers’ Welfare on Tuesday.
The area dedicated to wheat has risen to 320 lakh hectares (ha), up from 315.63 lakh ha in the corresponding period last year, which is anticipated to lead to a surge in cereal production for this season. According to agricultural experts, the winter rains are likely to further enhance crop yields.
The area under pulses stands at 139.81 lakh ha, while 53.55 lakh ha has been allocated for shri anna & coarse cereals, and 96.82 lakh ha is designated for oilseeds.
This growth in total sown area is projected to boost the production of essential food items, potentially alleviating inflationary pressures within the economy.
Looking forward, food inflation is anticipated to decline, and the economic growth outlook remains 'cautiously optimistic' for the upcoming months, as the agricultural sector is likely to benefit from favorable monsoon conditions, increased minimum support prices, and sufficient input supplies, as noted in the Finance Ministry’s monthly economic review last month.
India’s retail inflation rate, based on the Consumer Price Index, dropped to a 4-month low of 5.22 percent in December, attributed to falling prices of vegetables, pulses, and sugar, providing relief to household budgets, as per data from the Ministry of Statistics released on Monday.
This decline in inflation marks a consistent downward trend after reaching a 14-month high of 6.21 percent in October, with CPI inflation decreasing to 5.48 percent in November.
The reduction in retail inflation in December is linked to the decrease in prices of key food items.
An RBI report released earlier this month indicated that 'India’s growth story remains robust' and inflation is on a downward trajectory. The RBI Governor expressed optimism about the economic outlook, noting that 'the balance between inflation and growth is well positioned'.
The report highlights that rural India is emerging as a significant market for e-commerce companies this festival season; this trend is expected to gain further momentum with the substantial rise in kharif output and optimism surrounding rabi production, aiming for a record foodgrains target for 2024-25.
