Rains Hold Key to Bet­ter Days

The Economic Times - - The Edit Page -

Apro­pos the Edit ‘Mes­sage From the Stock Mar­kets’ (Apr 4), two con­sec­u­tive mon­soons have been poor. The mar­kets are hop­ing for a be­nign hu­man in­ter­ven­tion today from Raghu­ram Ra­jan. Should the sev­enth pay panel largesse come be­fore an­other failed mon­soon, heavy farm dis­tress would fol­low. A sub­stan­tial cut in key rates would ac­cel­er­ate in­fla­tion­ary trends. The do­mes­tic mar­kets need to bear the pain a lit­tle longer till there is rea­son­able rain­fall and the na­tion steers through an omi­nous hot sum­mer ahead.

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