Archive for August 11th, 2009

11 Aug

Finance Minister says Sowing will be 20 per cent lower :(

Posted by smcinvestmentindia in Business, Commodity market, Commodity Trading, Economics, Finance, Global warming, india, Merchant Banking, Monsoon, Stock, tax, Wealth. Tagged: , , , , , , , , , , , , , , .

weak mansoon

Food production in the current fiscal is likely to go down as sowing will be 20 per cent lower due to the weak monsoon, Finance Minister Pranab Mukherjee said today.

😦

Also, 161 districts have been declared drought-prone, he added.

😦

However, indicating that this is unlikely to dampen the overall economic scenario, Mukherjee said he is in agreement with the Reserve Bank of India’s growth projection six per cent and above for the current fiscal.

🙂

Also, he is confident that the direct tax collection target of Rs 3.7 lakh crore will be surpassed for the current fiscal, he added.

🙂

Prime Minister Manmohan Singh yesterday met Commission for Agricultural Costs and Prices (CACP) Chairman Mahendra Dev, who apprised him about measures required to tackle the situation arising out of the deficient and delayed monsoon.

🙂