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Sowing season picks up pace in India
Jul 23, 2016

Now, here's a chart that should warm the cockles of the hearts of everyone, right from the Government to companies to investors. According to the ministry of agriculture, kharif sowing so far this season is higher than the sowing in the previous season by more than 3%. And if this isn't good news enough, the water levels at the 91 major reservoirs across the country have seen a rise in their combined capacity. As per a leading daily, combined capacity has risen to 34% versus 18% a fortnight ago. If you look at the chart carefully, the food item showing the most increase is pulses, a commodity whose prices have witnessed a sharp spike over the last few months.

In a country where majority of the population is still dependent on agriculture for subsistence, importance of good rains cannot be emphasised enough. Especially against the backdrop of two continuous below par rains in the last couple of seasons. With this important cog of our economy showing signs of turning well, it could boost sentiments and incomes across, thus giving a much needed boost to our economy.

Data Source: yahoo finance, cnnfn, Equityamaster

This Chart Of The Day was published in The 5 Minute WrapUp - Want to Outperform Markets? Test This.

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