India's foodgrain prod likely to be down by 15 MT: Pranab

The country's foodgrain production is likely to fall short by 14 to 15 million tonne (MT) this kharif season due to weak monsoon in several parts of the country, Finance Minister Pranab Mukherjee said today.

"There will be a (foodgrain production) shortage of 14 to 15 MT as per estimates arrived at in a meeting chaired by me," he said.

Mukherjee said the problem could not be wiped out, "but can certainly be mitigated",

Though in the early stage of the monsoon season the rainfall deficient was high it came down sharply towards the end of the season on heavy spells of rains.

"Now the major reservoirs have storage of 82 per cent, which is 5 per cent less than normal," he said.

As such there would be no shortfall for hydel power projects and irrigation facilities, he said.

Mukherjee also said to mitigate the problem of the poor in the areas which witnessed drought, the government would provide an additional 50-60 days work over and above the 100 days under the NREGA scheme.

The funds for the additional days of work would be provided from the National Calamity Fund, the minister said.

On the global recession, Mukherjee said the IMF has predicted recovery, but pointed out that "the recovery will be due to contribution by countries like China, which is predicted to have a growth of 7 per cent and India which will grow by 6 plus per cent this fiscal".