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123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
The steady progress in
the southwest monsoon has supported summer sown crops, India's finance ministry
said in its monthly economic report. "Replenishing
water levels in reservoirs bodes well for the current kharif (summer-sown) and
upcoming rabi (winter-sown) crop production. This will further aid in reducing
food inflation in the coming months," the report said.
India's retail
inflation fell to a near five-year low of 3.54% in July, largely due to a base effect
as food prices eased from previous highs. Food inflation, which accounts for
nearly half of retail inflation, eased to 5.42% in July from 9.36 per cent in
June.
Earlier this week, the country's central bank said
India would have to adopt a more cautious approach to monetary policy if high
food prices persisted and threatened to spill over into more generalised price
inflation.
The government report
said stronger global demand had boosted India's goods exports but imports had
also risen due to strong domestic demand. India's goods trade deficit was $23.5
billion in July, higher than economists' expectations.
