Speculation on poor Monsoon misplaced, no need to panic: Finance Minister Arun Jaitley
  • 5 years ago
Union finance minister Arun Jaitley today said even if the monsoon turns out to be a little deficient as per prediction, it will not affect food production. Earlier this week, the Indian Meteorological Department predicted "deficient" monsoon and revised its forecast from 93% to 88% for this year, triggering fears of bad harvest and food price inflation. Crop production has already taken a massive hit with the unseasonal rains in March and April, which has affected farmers over nine states. Mr Jaitley said he had a detailed analysis of the situation from the weather department. On basis of it, he said what was relevant was the "geographical distribution" of monsoon.

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