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Farm growth holds out hope for the economy

9/18/2013

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Last week, the Prime Minister's Economic Advisory Council projected 4.8 per cent growth for agriculture in 2013/14. In comparison, agricultural growth last year was 1.9 per cent.
If the projection proves accurate, it will come as a shot in the arm for the ailing Indian economy . Robust agricultural growth is expected to contain inflation, support industry and services, and increase employment opportunities in rural India. It might also ease pressure on government employment schemes. A government statement said that the early monsoon season has had a positive impact on sowing. The reservoir position at the end of August was 29 per cent better than the overall average of the last 10 years. 
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