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News in numbers: IMD raises monsoon forecast to 98% from 96% of long period average

LiveMint logoLiveMint 07-06-2017 howindialives.com

98%

What is it? This year’s southwest monsoon rainfall estimate as a percentage of the long period average (LPA), India Meteorological Department’s long-term rainfall-tracking benchmark.

Why is it important? It’s up from the earlier estimates of 96% of the LPA (which is 89 cm for 1951-2000). In India, monsoons have a direct impact on agricultural GDP. Since 2014, the actual monsoon has been a lower percentage of LPA than forecast, though. In 2013, it was 106% of LPA compared to a forecast of 98%, while in 2016, it was 97% when it was predicted to be 106% of LPA.

Tell me more: The monsoon this year arrived early, hitting the Kerala coast in May itself, rather than in the first week of June.

86,119 tonne

What is it? The amount of buffalo meat (carabeef) exports in April.

Why is it important? It’s down 11.4% from April last year, according to Agricultural and Processed Food Products Export Development Authority. A strike by abattoirs is taking a toll on exports, in which India has had a lead (over Brazil) since 2014 worldwide. According to the United States Department of Agriculture, which considers carabeef as beef in its statistics, India exported 17,64,000 tonne of the meat in 2016.

Tell me more: The appreciation in the value of the rupee has also affected exports. Abattoirs have been on a strike since March in the leading exporting state, Uttar Pradesh, after the government went after illegal slaughterhouses.

500 million

What is it? The number of people the government wanted to train in new skills by 2022.

Why is it important? The Union government delinked the target, set by the UPA II government, on Tuesday from its efforts at skill development. Around 150 million were expected to be trained by the private sector under the National Skill Development Corporation and 350 million by the ministries of the Central government. But now training would be demand-driven rather than to meet a target.

Tell me more: 19.2 million people have been trained under the scheme since 2014-15.

5

What is it? The number of people killed in farmers’ agitation in Mandsaur district in Madhya Pradesh.

Why is it important? A firing during the protests also left more than a dozen injured. The state government insists that the shots were not fired by police or the Central Reserve Police Force, but some other accounts have pointed to police firing. The agitation underlines the growing discontent among farmers in the state, and in fact across the country. Their demands include loan waiver and higher minimum support price for agri products

Tell me more: Earlier this year, farmers from Tamil Nadu had staged protests in Delhi for more than 40 days making similar demands on the back of water shortage in the state.

103

What is it? The number of consecutive quarters of economic growth in Australia.

Why is it important? Australia now matches Netherlands’s record in sustaining a recession-free quarterly growth, the longest among developed countries. This translates to 26 years without a recession, even as its peers faced a number of financial hits, including the dotcom crash and financial crisis in the last two decades. Australia hasn’t had a recession since 1991.

Tell me more: Australia’s GDP grew by 0.3% in January-March quarter, slower than that of the US and the UK, both of which grew at about 2% in the quarter.

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