Actions taken by the Reserve Bank of India (RBI) should be helpful at this point while future action will depend on data, its chief Raghuram Rajan said at a media conference on Tuesday, adding that one should not assume that the next rate move will be upwards.
PAWAR SAYS INDIA NOW A FOOD POWERHOUSE
India has achieved an overall agricultural growth of more than 3.5% per annum during the last five years and setting new records in production of food grains year after year, Farm Minister Sharad Pawar said. “Not only have we been able to meet the demand of 17% of global population residing in India, but have exported nearly 20 million tonnes of foodgrains, thus becoming a major contributor to the world food basket,” Pawar told the FAO conference at Rome.
INDIA’S SOYBEAN PLANTING TO SEE SPURT
India’s soybean plantings should see a seven percent spurt this year, mainly at the cost of cotton, on better prices to farmers and timely arrival of the monsoon, a top industry official said.
FAO Conference: Key Documents
The current world food and agricultural situation is characterized by continued high and volatile international food prices and the persistence of hunger and malnutrition in many parts of the world. This is generating growing concerns over the long-term sustainability of agricultural and food systems.