Single drops of water make the mighty economy
The 2009 Southwest monsoon has finally arrived in many parts of the country—with a vengeance in several places—leading to flash floods and loss of lives. With images of rain and news of reservoirs getting filled up pouring down TV sets, our macro-economists are seemingly clueless about the damage the delayed and deficient monsoon will cause. Agriculture plays a marginal role in the nation’s gdp numbers and so, even if the crops fail, it will not make a dent in the growth rate, they say.