The total farm area sown in the country under various rabi crops in the ongoing season so far has increased to 632.3 lakh hectares, up from 631.4 lakh hectares in the same period of the previous year, according to official figures released by the Ministry of Agriculture & Farmers’ Welfare on Tuesday.
The area sown under wheat has shot up to 320 lakh hectares (ha), compared to 315.63 lakh ha during the corresponding period last year, which is expected to result in higher production of the cereal for the season. The winter rain is also expected to benefit the crop, according to farm experts.
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The total area under pulses has been reported at 139.81 lakh ha while 53.55 lakh ha area has been sown under shri anna & coarse cereals and 96.82 lakh ha area has been covered under oilseeds.
The increase in the total sown area is expected to increase the production of essential food goods and would help bring down inflation in the economy.
Looking ahead, food inflation is expected to ease while the growth outlook for the economy is “cautiously optimistic” for the coming months as the agricultural sector is likely to benefit from favourable monsoon conditions, increased minimum support prices and adequate supply of inputs, according to the Finance Ministry’s monthly economic review last month.
India’s retail inflation rate, based on the Consumer Price Index, fell to a 4-month low of 5.22 per cent in December as prices of vegetables, pulses, and sugar eased during the month bringing respite to household budgets, according to figures released by the Ministry of Statistics on Monday.
The easing of inflation reflects a steadily declining trend after having touched a 14-month high of 6.21 per cent in October. CPI inflation had declined to 5.48 per cent in November.
The decline in the retail inflation in December was attributed to the easing of the price spiral in key food items.
An RBI report earlier this month said that “India’s growth story is still intact and inflation is on the declining path. The RBI Governor was also optimistic about the outlook for the economy, observing that “the balance between inflation and growth is well poised”.
The report points out that rural India is emerging as a gold mine for e-commerce companies in this festival season; this is expected to gather further momentum with the sharp increase in kharif output and optimism around rabi production emboldening a record foodgrains target for 2024-25, the bulletin added.
