Bankers in India doing rain dance beneath money tree
INDIA — The battle against inflation in India this year has bankers praying for a healthy autumn bumper crop. But with rain levels fluctuating, predicted profits from agriculture continue to tickle and torment traders in the stock market.
Inadequate irrigation techniques and lower than average rainfall remain concerns for both economists and farmers on the Indian subcontinent, where food “makes up a large chunk of the average person’s consumption basket,” notes Bloomberg columnist Andy Mukherjee.
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