News

Crop production and GDP estimates down
A fall in crop production in 1997-98 which has been estimated by the agriculture ministry might lead to a downward revision in GDP for 1997-98. Food grain output is estimated to have dropped by 2.15 per cent, oil seeds fell by 4 per cent, sugarcane by 6.1 per cent and cotton by 20 per cent. The Centre for Monitoring Indian Economy (CMIE) had recently projected a 0.1 negative agricultural growth. With a drop in food grains and major commercial crops the real deceleration in the farm GDP growth might be substantially higher than previously projected.