Saturday, August 8, 2009

Drought threat looms over India

As of July 6, monsoon was 44% deficient in the region that includes Punjab, Haryana and west UP — the granary of the country.

-Food article inflation will be higher

-Due to this fear Stock market down by 5% in 2 days

The situation is just as grim in Haryana. Delay in rainfall has created a major power and water crisis. Though the state government tried its best to deal with the situation with purchase of additional power from different sources, unscheduled power cuts continue to plague people, triggering protests in various parts of the state. "Yes, there is a huge gap between demand and supply, with shortage sometimes going up to 200 lakh units. But we are trying to bridge this gap by purchasing power," said Haryana power minister Randeep Singh Surjewala.

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