The week in charts: Lower foodgrain target, deficient rains, cheaper stocks
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Agriculture minister Shivraj Singh Chouhan said crops got damaged across 611,000 hectares due to heavy rains and floods.
- ✓India’s monsoon season ended at 87% of its long-period average, marking the fourth-weakest since 2001.
- ✓Meanwhile, the BSE Sensex fell 2% this week, though many stocks now show cheaper valuation bands for investors.
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- MARKET
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- 4 Minute(s)
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- India Economy
The lower target largely reflects subdued expectations for rice and maize production. Announcing the target, agriculture minister Shivraj Singh Chouhan said crops had been damaged across about 611,000 hectares in Karnataka, Maharashtra, Tamil Nadu, Telangana, Andhra Pradesh, Rajasthan and Gujarat because of heavy rains, floods or droughts.
Deficient rains
India’s southwest monsoon season ended at 87% of its long-period average (LPA), making it the fourth-weakest since 2001 and the 13th-weakest since 1901, according to the data released by the India Meteorological Department (IMD). The June-September monsoon began with rainfall 35.4% below normal in June, followed by a 1% surplus in July, a 16.3% shortfall in August and a 7.6% shortfall in September.
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