The delay in monsoon has sent food prices soaring across the country, even though inflation has been negative for the past five weeks. Here's a report on how its impacting your household budget.
The impact of a delayed and deficient monsoon has now started showing up in the monthly budget. NDTV visited a vegetable shop in south Delhi to tell you just how much prices have gone up in the last two weeks.
The price of cauliflower has gone up from Rs 40 per kg to Rs 50 rupees per kg, capsicum from Rs 35 to 50, and for a kg of onions, you shell out Rs 20 instead of Rs 15 two weeks ago.
"My customers are complaining. In two weeks, prices are up 30-40 per cent. They say prices are too high, we don't know what to buy," said a fruit seller.
It's not just fruits and vegetables; even prices of edible oils, pulses and cereals have been rising up nearly 20 per cent. This has happened despite the negative inflation for the past five weeks.
It's the poor monsoon that is playing spoilsport, and in turn is leading to a lower crop output and panic buying.
"Kharif crop comes only by October. So if there is any price rise, it's more because of speculation," said T Nanda Kumar, secretary, Agriculture.
Experts have said if the monsoon continues to be weak, growth may even slip to 4.5 per cent.
The government is working on a contingency plan. Otherwise a patchy monsoon will dry up India's green shoots of recovery.
