ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » India News

Record foodgrain sowing bores good news for India's inflation

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Record foodgrain sowing bores good news for India's inflation
The production of foodgrains this year is up by 11.02 MT as opposed to 124.01 MT in the previous year. Image of rice varieties. Image Photo: Wikipedia

Ministry of Agriculture released its first advanced estimates of a record high Kharif foodgrain production which is estimated to be at 135.03 million tonnes (MT).

The country’s foodgrain output will shoot up 9% with record production of rice and pulses as well.

The production of foodgrains this year is up by 11.02 MT as opposed to 124.01 MT in the previous year, the Ministry said in a statement.

Estimated production of rice is the highest among all other foodgrains at 93.88 MT, followed by coarse cereals which is estimated to be at 32.45 MT.

Production of maize and pulses saw record high levels of 19.30 MT and 8.70 MT respectively.

This may call for good news as record high levels of foodgrain produce brought to us by a good monsoon session may suggest lower levels of food inflation that may follow.

August inflation was seen to ease to a four-month low after predictions of a good monsoon.

Consumer Price Index (CPI) inflation was recorded at 5.05% in August which was lower than 6.07% in July.

Food prices constitute a 50% weightage in the inflation basket. With a higher estimated foodgrain production, food prices are bound to fall which may ease out inflation further.

In August, Reserve Bank of India (RBI) kept policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.5%.

However, the RBI aims to reduce CPI inflation to 5% by January 2017.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Foodgrainsfood productionInflationrice producePulsesmaizeEconomyConsumer Price Index (CPI)
Written By: ZeeBiz WebTeam
Updated: Fri, Sep 23, 2016
12:59 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
RECORD 308.65 million tonnes foodgrain production expected this year RECORD 308.65 million tonnes foodgrain production expected this year

LATEST NEWS

Vivo X90, X90 Pro Launch today: Check specifications, features, camera and other details

Mahila Samman Saving Certificate: New small savings scheme for women announced in Budget 2023 | Check Where and How to Open Account, eligibility, interest rate, maturity, Tax benefits - All you need to know

Delhi temperature, weather forecast today: Met department predicts clear sky in national capital; air quality moderate

India among top three sources for active users growth on Facebook: Meta

UP Police Constable Recruitment 2023: Application invited for 37,000 vacancies — Check notification details

OPPO Reno 8T 5G launch today: Check specifications, features and other details

Ukraine seeks to extend duty-free trade with EU until end of 2024

NSE, BSE put 3 Adani Group companies under short-term additional surveillance measure

I-T dept raids over 30 locations of 5 builder groups across Jaipur

Amul milk price hiked by Rs 3 per litre from today: Check new rates

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV