ID :
74776
Tue, 08/11/2009 - 19:23
Auther :
Shortlink :
https://www.oananews.org//node/74776
The shortlink copeid
20% decline in summer-sown crops; but no need to panic: FM
New Delhi, Aug 11 (PTI) Deficient rainfall will result in
a 20 per cent decline in sowing of summer crops, but India's
Finance Minister Pranab Mukherjee said there was no need to
press the panic button.
"There is no point in pressing the panic button. This
country managed the century's worst drought in 1987. We
transported drinking water through railways. We organised
fodder for the cattle.
"This country has the experience of handling the
situation and I will advice not to press the panic button," he
said at the annual conference of chief commissioners and
directors general of Income Tax.
The 1987 drought affected over 6,500 villages and 1.4
million hectares of land in Haryana alone. Nearly 66 per cent
of India's 140 million hectares of cultivable land depends on
rains, while the rest is irrigated.
Mukherjee said that 161 districts have already been
declared drought-prone and added that "so far as kharif
(summer-sown crops) is concerned.... sowing will be down by
about 20 per cent."
The meteorology department Monday forecast this season's
monsoon to bring only 87 per cent of the usual rains.
On the impact of weak monsoon on economic growth,
Mukherjee said he said he was "sticking to" Reserve Bank's
projection of six per cent-plus growth for the current fiscal.
"After all we shall have to wait and watch the
performance for the entire period. Now there is no point in
saying that we will have high growth or no growth. What will
happen we have to accept. But RBI's latest assessment is that
it (economic growth) will be six per cent plus and I am still
sticking to that," Mukherjee said.
Fortunately, Punjab and Haryana have used ground water
extensively, because of which sowing in these states has not
been affected much, he said.
"But in Bihar and certain other states there has been a
shortfall," he noted.
On if there was a 'Plan-B' ready with the government,
the India's Finance Minister said of course there is a
contingency plan to deal with situation. He, however, did not
elaborate.
To a separate question on taxes, he exuded confidence
that direct tax collection target of Rs 3.7 lakh crore will be
met for the current fiscal. PTI
a 20 per cent decline in sowing of summer crops, but India's
Finance Minister Pranab Mukherjee said there was no need to
press the panic button.
"There is no point in pressing the panic button. This
country managed the century's worst drought in 1987. We
transported drinking water through railways. We organised
fodder for the cattle.
"This country has the experience of handling the
situation and I will advice not to press the panic button," he
said at the annual conference of chief commissioners and
directors general of Income Tax.
The 1987 drought affected over 6,500 villages and 1.4
million hectares of land in Haryana alone. Nearly 66 per cent
of India's 140 million hectares of cultivable land depends on
rains, while the rest is irrigated.
Mukherjee said that 161 districts have already been
declared drought-prone and added that "so far as kharif
(summer-sown crops) is concerned.... sowing will be down by
about 20 per cent."
The meteorology department Monday forecast this season's
monsoon to bring only 87 per cent of the usual rains.
On the impact of weak monsoon on economic growth,
Mukherjee said he said he was "sticking to" Reserve Bank's
projection of six per cent-plus growth for the current fiscal.
"After all we shall have to wait and watch the
performance for the entire period. Now there is no point in
saying that we will have high growth or no growth. What will
happen we have to accept. But RBI's latest assessment is that
it (economic growth) will be six per cent plus and I am still
sticking to that," Mukherjee said.
Fortunately, Punjab and Haryana have used ground water
extensively, because of which sowing in these states has not
been affected much, he said.
"But in Bihar and certain other states there has been a
shortfall," he noted.
On if there was a 'Plan-B' ready with the government,
the India's Finance Minister said of course there is a
contingency plan to deal with situation. He, however, did not
elaborate.
To a separate question on taxes, he exuded confidence
that direct tax collection target of Rs 3.7 lakh crore will be
met for the current fiscal. PTI
