Napoleon once said about a general: “I know he’s good but is he lucky?” It is a remark that applies as well to India’s finance ministers. Their track record depends to a large extent on two factors which are outside their control.
One is the monsoon and the other is crude oil prices. India’s agriculture is alarmingly dependent on rainfall, and India’s population depends to a large extent on agriculture. This is despite the fact that agriculture generates only 15 per cent of the gross domestic product (GDP). Over 50 per cent of households derive some proportion of income
One is the monsoon and the other is crude oil prices. India’s agriculture is alarmingly dependent on rainfall, and India’s population depends to a large extent on agriculture. This is despite the fact that agriculture generates only 15 per cent of the gross domestic product (GDP). Over 50 per cent of households derive some proportion of income
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
