RTTNews - Finance Minister Pranab Mukherjee said India's economy would grow above 6%, despite a fear of drought and the decline in sowing of the Kharif crop, adding that the government had formulated a contingent plan to tackle the situation. The 6%-plus growth is in line with the Reserve Bank of India's projection for this fiscal.
The meteorological department forecast that monsoon season will bring only 87% of the rains.
Mukherjee said India managed the worst drought in 1987 by transporting drinking water through railways and organizing fodder for cattle. The 1987-drought had affected over 6,500 villages and 1.4 million hectares of land, with rainfall deficit at over 19%. Therefore, the government had the experience in handling the situation.
The minister further said that the government has initiated steps to buy more sugar and banned the wheat exports and restricted rice shipments.
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