India’s agriculture sector remains strong, good signs from rabi sowing – RBI

India’s agriculture sector remains strong and looks bullish with better indications from rabi sowing after signs of a decline in kharif output. This is the belief of the Reserve Bank. Today the Reserve Bank has presented its policy review. In which many sectors related to the economy including agriculture have been talked about. With the expectation of softening of food inflation after better signals from the agriculture sector, the Reserve Bank is also assuming that the inflation rate will be under control next year and it may come within the limit fixed by the Reserve Bank.

Reserve Bank of India (RBI) Governor Shaktikanta Das has said that the country’s agriculture sector remains strong and rabi sowing has started very well. However, due to erratic rains, the country’s Kharif production is expected to decline slightly. According to the first advance estimates, the total kharif production of the country is estimated to be 149.9 million tonnes. The production in last year’s Kharif crop year was 15.60 crore tonnes. Regarding the supply side, Das said that the strength of the agriculture sector remains intact. Rabi sowing has started well. Rabi sowing has been 6.8 percent more than normal till December 2, 2022.

According to the data released by the Ministry of Agriculture on Friday, the sowing of wheat has increased by 5.36 percent to reach 211.62 lakh hectares in the current Rabi (winter season) season. Rabi sowing has increased in Rajasthan, Bihar and Uttar Pradesh. Sowing of wheat, the main rabi crop, begins in October. It is harvested in March-April. In the rabi season, apart from wheat, paddy and pulses such as gram and urad, groundnut and mustard are sown. On the Indian economy, Das said factors such as good progress in rabi sowing, sustained urban demand, revival in rural demand, pick-up in manufacturing, revival of services sector and pick-up in credit demand are supporting the outlook.

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