Drought looms, Crisil warns & FMC toys with futures ban

Policymakers will be the last to admit it, but it is increasingly clear to everyone else that 2012 will likely be marked as another drought year. If the current dry spell in most parts of the country extends to most of August, it could severely hit production of a clutch of food crops akin to the situation in 2009 when a drought scorched rural India and pulled down farm GDP growth to 1%.

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