Food production in the current fiscal is likely to go down as sowing will be 20 per cent lower due to the weak monsoon, Finance Minister Pranab Mukherjee said on Tuesday. Also, 161 districts have been declared drought-prone, he added. However, indicating that this is unlikely to dampen the overall economic scenario, Mukherjee said he is in agreement with the Reserve Bank of India's [Get Quote] growth projection six per cent and above for the current fiscal.
He is confident that the direct tax collection target of Rs 3.7 lakh crore will be surpassed for the current fiscal, he added.
Prime Minister Manmohan Singh on Monday met Commission for Agricultural Costs and Prices (CACP) Chairman Mahendra Dev, who apprised him about measures required to tackle the situation arising out of the deficient and delayed monsoon.
In the meeting, which follows Prime Minister Manmohan Singh's meet with Chief Secretaries, discussions were held on the drought situation, the right to food law and long-term policies to improve the farm sector.
Singh also met 13th Finance Commission Chairman Vijay Kelkar and Planning Commission Secretary Sudha Pillai on Monday and is believed to have discussed the drought situation in different parts of the country.
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