Foodgrains Likely To Get Cheaper In India

Bangalore: Presently, India’s agricultural sector is at its best, with the country set to produce a record 263.2 million tonnes of food grains in the current crop year, Agriculture Minister Sharad Pawar revealed.
As per the government data, a drop in food prices could come as a great relief for most of the Indian households as it form the largest amount of monthly expenditure, reports Zia Haq of Hindustan Times.
This will indeed bring a smile to all the countrymen as almost two-thirds of Indians depend on farm income.

The trade analyst suggested that with the 6 percent robust growth of the farm sector, it will definitely bring down food prices and increase rural earnings. As a whole, the entire growth represents a good sign for the economy ridden government, as the witnessed growth is 2 percent higher than the official target of 4 percent. Higher food grain production has given the government the confidence to roll out the ambitious National Food Security Act.

Further, Pawar also said he is “the happiest agriculture minister in the world to see this stupendous performance in the sector and the ability of farmers to produce more. The previous record of 259.32 million tonnes was achieved in the 2011-12 crop year (July-June),” reports PTI.

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