The Reserve Bank of India (RBI) is also pinning hopes on good harvest.
Addressing the media on Friday RBI Governor Shaktikanta Das said, "There is a ray of hope from the normal monsoon. Kharif sowing is at a high. These developments would improve farm income and encourage trade.”
The higher acreage is on account of intermittent rains during this period. The moisture content in the soil is suitable for the growth of crops.
“We expect a good harvest as the water in major reservoirs across the country is around 50% more than last year,” said an agriculture ministry official.
He said that the acreage of rice has gone up to 36.26% to 34.87 lakh ha. The area under coarse cereals is also up at 10.28 lakh ha area as against last year’s coverage of 7.30 lakh ha. during this time.
“There is considerable swell on the acreage of oilseeds also. The area has gone up at 9.28 lakh ha area as against 7.34 lakh ha during the corresponding period of last year,” he said.
The acreage of pulses has also risen by 32.57% to 12.82 lakh hectares.
“We have set a record target of food grains production of 298.3 million tonnes in 2020-21. in 2019-20, as per the third advance estimate, the foos grains production is likely to be 295.67 million tonnes, which is a record output,” the official said.
The procurement of food grains is also progressing well with government purchasing around 32 million tonnes of wheat and 5.2 lakh tonnes of rice.
Area of summer crops
|Crops||Area (2020)*||Area (2019)*|
*Area in lakh ha as on May 22,2020
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