BHARAT LEADS THE WAY

Six months after Covid-19 hit India, there is a sliver of good news from the rural hinterland. Some economic indicators suggest a bounceback may be in progress. Fertiliser sales jumped 83 per cent in April-June to a record 111.61 lakh tonnes despite the nationwide lockdown. This time around, the all-India planting area of paddy, at 22.02 million hectares, was higher by 17.3 per cent on year, as on July 24. Most of the farmers in West Bengal, Uttar Pradesh, Punjab, Haryana, Chhattisgarh, Odisha, Andhra Pradesh and Telangana are dependent on rice for their income. Sowing is up nearly 39 per cent. Tractor and two-wheeler sales are approaching levels of the previous year. Daily tractor registrations are close to 90 per cent of FY20’s daily average. Total tractor sales (domestic plus exports) during July 2020 were at 25,402 units, up 27 per cent from 19,992 units for the same period last year. Two-wheeler sales also suggest a rebound—Bajaj Auto sold 146,695 motorcycles this June, 73.5 per cent of the 199,340 units sold in the same month