Economy
Retreating monsoon worst in 140 years; TN declares drought as 144 farmers die
The Tamil Nadu government declared a drought on January 10, after 144 farmers ended their lives between October and December. As many as 106 farmers were reported to have committed suicide in one month, according to a notice issued by the National Human Rights Commission to the state government on January 5.
 
The retreating northeast monsoon -- usually unnoticed in India owing to the singular importance of the larger southwest monsoon -- in 2016 was the worst-ever over the last 140 years, according to Indian Meteorological Department (IMD) records, since 1876.
 
"It is an unprecedented situation," S. Panneerselvam, Professor and Head, Agro Climate Research Centre, Tamil Nadu Agriculture University, Coimbatore, said. "It has severely affected 21 of 32 districts of Tamil Nadu." 
 
"Tamil Nadu celebrates Pongal on January the 16th," said Panneerselvam. "It is when the harvest begins, but the yield this time is going to be the worst the state will see."
 
On January 5, reservoirs in Tamil Nadu were at less than 20 per cent of their capacity, cited as the worst-ever for the state.
 
Record-keeping began in 1871, but a worse northeast monsoon, which sweeps across Tamil Nadu, coastal Andhra Pradesh, south interior Karnataka and Kerala, between October and December, was recorded in 1876, making 2016 the year of the second-worst monsoon in 145 years.
 
Overall, the northeast monsoon was 45 per cent short of the average for this period, the state worst hit being Tamil Nadu, where rainfall for the season was 62 per cent short of normal. Although the southwest monsoon -- which waters the subcontinent between June and September -- was classified as normal across India (three per cent below average), it was 19 per cent deficient in Tamil Nadu.
 
Hit by shortages from both monsoons, Tamil Nadu, where the winter crop depends more on the northeast monsoon than in any other Indian state, reported a 33 per cent drop in the winter sowing of rice, according to latest crop sowing situation report, updated weekly by the Ministry of Agriculture.
 
The northeast monsoon becomes active after the southwest monsoon retreats from the subcontinent. While there is no specific date for the retreat of southwest and the onset of northeast monsoon, October is regarded as the starting period of the lesser monsoon.
 
Apart from the two monsoons, Tamil Nadu also receives pre-monsoon rains, all important for agriculture.
 
Nagapattinam, Thiruvarur and Thanjavur were the worst hit districts in Tamil Nadu.
 
"There are 135,000 paddy farmers among the 175,000 lakh farmers in our district, Nagapattinam, which falls in the Cauvery delta. Half the farmers have sown the paddy crop, but less than 20 per cent of the crop has crossed the flowering stage," said J. Sekar, Joint Director of the Agriculture Department in the eastern coastal district of Nagapattinam. "Even this mature crop will yield nothing."
 
"Under the Pradhan Mantri Fasal Bima Yojana (prime minister's crop insurance scheme), about 130,000 (95 per cent) paddy farmers in the district are insured," said Sekhar. His claim could not be independently verified. "A premium of about Rs 11 crore has been collected. This will provide a safety net to our farmers."
 
The failure of the northeast monsoon was evident across the South except Telangana, where farming is mostly rain-fed and dependent on the southwest monsoon.
 
With the northeast monsoon failing and the southwest sketchy, reservoirs in the southern states are in crisis -- or nearing one.
 
Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and Kerala now report the highest deficits nationwide. Tamil Nadu reservoirs are 82 per cent short of normal levels -- the highest deficit in India currently -- while those in Andhra Pradesh are 53 per cent short, Karnataka 39 per cent and Kerala 37 per cent.
 
Karnataka declared a drought in 22 districts and some additional talukas in October 2016; the state has received Rs 1,782 crore from the central government. All of Kerala has been declared drought-hit.
 
As 2016 ended, South India's combined reservoir levels were 34 per cent of capacity, which is 22 percentage points less than 56 per cent, the average water availability over the last 10 years.
 
Tamil Nadu had targeted 14.5 lakh hectares under rice in 2016-17, according to the weekly sowing situation report dated January 6, of the Agriculture Ministry, more than any other state. But no more than 7.18 lakh hectares had been sown until January 5, which is 3.5 lakh hectares -- or 33 per cent -- less than the five-year sowing average of 10.68 lakh hectares.
 
Compared to the first-week-of-January average of 17.28 lakh hectares of sowing, rice has been planted on 12.74 lakh hectares across India, leaving a deficit of 4.54 lakh hectares, or 26 per cent.
 
"Less area coverage has been reported from the states of Tamil Nadu (3.50 lakh hectare), Andhra Pradesh (0.31 lakh hectare), Karnataka (0.15 lakh hectare), Telangana (0.13 lakh hectare), Assam (0.12 lakh hectare), Odisha (0.09 lakh hectare) and Kerala (0.09 lakh hectare)," said the government's sowing report.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

 

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World Bank cuts Indian GDP growth for fiscal to 7%
In its first projection on India post-demonetisation, the World Bank has lowered the country's GDP growth estimate for this fiscal to 7 per cent, from its earlier estimate of 7.6 per cent made in June last year.
 
"Growth in India is estimated to reach 7 per cent in financial year (FY) 2017...reflecting a modest downgrade to India's expansion," the multilateral lender said in its Global Economic Prospects report released here on Tuesday.
 
"Unexpected demonetisation - the phasing out of large denomination currency notes - weighed on growth in the third quarter of FY 2017," it said.
 
"Weak industrial production and manufacturing and services purchasing managers' indexes further suggest a setback to activity in the fourth quarter of FY 2017," it added.
 
Last week, India's official statistician in New Delhi also lowered the country's gross domestic product growth estimates for 2016-17 to 7.1 per cent, compared with the 7.6 per cent growth in 2015-16.
 
While announcing its monetary policy review last month, the Reserve Bank of India acknowledged the demonetisation factor and lowered their gross value added (GVA) growth estimates for the current fiscal to 7.1 per cent from the 7.6 per cent forecast earlier.
 
On November 8, Prime Minister Narendra Modi announced the demonetisation of Rs 1,000 and Rs 500 notes, saying the move was aimed to eliminate black money, counterfeit currency and terror financing.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Terror victims' families sue Twitter, say it helped ISIS
Family members of three Americans who were killed in attacks by the Islamic State in the Brussels airport bombing in 2016 and Paris attack in November 2015 have filed a lawsuit against Twitter, accusing it of aiding the extremist group by ignoring its tweets.
 
According to a report in RT on Tuesday, the lawsuit titled "Cain v. Twitter, Inc" has been brought forward by Anne Cameron Cain, whose husband Alex Pinczowski and his sister Sascha were killed in the 2016 Brussels Airport bombing, as well as Beatriz Gonzalez, the mother of Nohemi Gonzalez who was killed in the November 2015 Paris attack. 
 
The claimants alleged that Twitter was responsible for their relatives' deaths by providing terrorists a platform to spread their ideology and recruit new members. 
 
"This is the first lawsuit that details how Twitter has played a key role in making Islamic State the most formidable terrorist organization in the world today, and how Islamic State uniquely used Twitter in the context of two of the most serious attacks to take place in Europe recently," Shurat Hadin, Attorney Nitsana Darshan-Leitner was quoted as saying.
 
The victims' families are seeking compensation.
 
The lawsuit notes an incident in October 2014 when an IS-linked account shared a message calling for the murder of civilians in France and other countries. 
 
It also mentions how three days before the November 2015 attacks, IS-linked accounts posted images of guns, the Eiffel Tower and prayers for blessings on what they called their "mission." 
 
"During the attacks themselves, IS tweeted using the hashtags #paris_ignites, #parisinflames, and #franceisonfire before publicly taking responsibility for the carnage. They repeated this pattern with the 2016 Brussels attack," the report noted.
 
The plaintiffs accused Twitter of violating anti-terrorism laws by failing to take action against the accounts of IS and providing material support to the group.
 
Twitter has been blamed earlier also for not taking any action against jihadist propaganda and stopping US intelligence agencies from monitoring terrorists activities on Twitter.
 
"Since the summer of 2015, Twitter has been more vigilant towards IS-linked accounts, with a total of 350,000 users being blocked or suspended by August 2016. Nevertheless, the lawsuit alleges that as of January 2017, Twitter 'continued to provide these resources and services to ISIS and its affiliates, refusing to actively identify ISIS Twitter accounts, and only reviewing accounts reported by other Twitter users'," the report cited Business Insider as reporting.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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