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RBI Governor Shatikanta Das Worried After Shortfall In Paddy Sowing In Kharif Season Rice Prices Likely To Go Up

Paddy Sowing Shortfall Likely: The reduction in sowing of paddy...

Paddy Sowing Shortfall Likely: The reduction in sowing of paddy due to weak monsoon has increased the concern of RBI. Announcing the monetary policy, RBI Governor Shaktikanta Das has stressed on monitoring the shortfall in paddy sowing. The RBI Governor said in his statement that the sowing of paddy in Kharif crops has decreased and there is a need to keep a very serious eye on it.

Less sowing of paddy raised concern
RBI Governor said that the South-West monsoon is on its track. Sowing of Kharif crops has picked up in recent times. But there is a shortfall in sowing of paddy which needs to be monitored. He said that we have a huge buffer stock. Shaktikanta Das said that there has been a slight decrease in the estimates of inflation but it is still high. According to the RBI governor, unseasonal rains and excess rains may affect the prices of food items, especially vegetables.

Rice crisis after wheat!
However, the statement given by the RBI governor regarding paddy is important. After wheat, now there is a possibility of rice crisis in the world. In fact, due to lack of rain in many areas of the country, the sowing of paddy has been affected, due to which there may be a big reduction in the production of rice this year. India is the largest exporter of rice in the world. Similarly, due to the Russia-Ukraine War, there has been a shortage of wheat all over the world, due to which there has been a tremendous increase in the prices of wheat. Due to the cost of wheat, flour and its products became expensive, due to which inflation increased. Now in this era of inflation, there may be a crisis of rice, which the whole world may have to face. Due to lack of rain in many states including West Bengal, Uttar Pradesh, there has been a 13 percent reduction in paddy sowing.

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