This refers to the article, “Depending on the rain gods” (May 13) by Sandeep Bamzai. The India Meteorological Department has predicted above-normal monsoon this year, but the fact remains that we have become more inured than prepared for the infidelity of rains. Two back-to-back droughts in the past two years have hurt the rural economy.
Indices of the domestic equity market have come to acquire closer linkages with rural demand as marquee companies derive huge shares of their sale revenues from the rural belt. No wonder, Dalal Street is pleased with the IMD bulletin. More than economics, bad rains can mar politics in the long-term. The Bharatiya Janata Party may not be too fancied to excel in the ongoing Assembly elections. This makes the 2017 Uttar Pradesh Assembly election critical.