Summer crops area a tad lower from year-ago, likely to inch up on rain forecast

Summer crops area a tad lower from year-ago, likely to inch up on rain forecast


Higher area under groundnut, bajra could not help summer acreage to continue the early lead over year-ago as both paddy and maize crops’ acreage is lower this time. It is to be seen if farmers shift to pulses, particularly to urad, as per the government plan, when all thrusts are on crop diversification.

The data of sowing under summer crops, which will end by May, has reached 26.53 lakh hectares (lh) as on February 27, which is 3 per cent less than 27.42 lh reported in the year-ago period. The zaid season sowing is progressing well, the government said, as reservoir levels are 12 per cent more now than year-ago. Zaid crop is grown before kharif sowing and after rabi harvest.

Summer crop areas, were earlier included under Kharif or Rabi season, but the government a few years back decided to start collating the data separately. The last five year’s average coverage under summer crops is 75.37 lakh hectares whereas the area reached an all time high of 83.92 lh in 2024-25. The share of summer crops was 19.11 million tonnes (mt) or 5.3 per cent in the total food grains production of 357.73 mt in 2024-25.

According to weekly update released by Agriculture Ministry, paddy sowing was down 7 per cent at 21.80 lh from 23.45 lh while nutri/coarse cereals areas up at 1.88lh against 1.68 lh year-ago. Among the nutri/coarse cereals, maize area is down at 1.33 lh from 1.36 lh, while bajra has reached at 0.31 lh against 0.21 lh, ragi at 0.17 lh and jowar at 0.06 lh until February 27.

Area under summer pulses reached 1.15 lh from 1.03 lh, in which coverage of greengram (moong) reached at 0.73 lh, and blackgram (urad) at 0.32 lh. The key growers of summer pulses are Madhya Pradesh, Bihar, Odisha, Tamil Nadu, Uttar Pradesh and Gujarat. Summer pulses are key to offset when there is a fall in Kharif crops. In 2025-26 Kharif pulses production has been estimated at 7.41 mt from 7.73 mt in 2024-25.

Madhya Pradesh, the main producer of summer moong, recently announced a bonus on the urad crop grown in summer. Announcing the bonus of ₹600 per quintal over and above the Minimum Support Price (MSP) of Rs 7,800/quintal for urad, the state government said that the step is aimed at encouraging farmers to shift from moong during the summer (zaid) season.

But despite tall promises, farmers of Madhya Pradesh complained about not receiving MSP for their urad in Kharif season. During the key Kharif harvesting season (October-December) of 2025-26, farmers in Madhya Pradesh on on an average had sold their urad at agriculture market yards (Mandis) 26 per cent below MSP at Rs 6,181/quintal, according to Agmarknet portal.

Oilseeds area in this summer season is also higher at 1.69 lh from 1.26 lh and it includes groundnut at 1.33 lh and sesamum at 0.26 lh.

Meanwhile, according to the Central Water Commission (CWC), storage dropped to 59 per cent or 108.338 billion cubic metres (BCM) of the 183.565 BCM capacity as of February 26. The CWC’s weekly bulletin on the storage in the major reservoirs said the level was 12 percentage points higher than last year and over 25 percentage points more than normal (last 10 years). The level in all five regions dropped below 70 per cent whereas only 3 reservoirs were brimming.

Published on March 3, 2026



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PM Modi discusses safety of 9 million Indians in phone calls with Gulf leaders

PM Modi discusses safety of 9 million Indians in phone calls with Gulf leaders


Prime Minister Narendra Modi
| Photo Credit:
ANI

Prime Minister Narendra Modi has spoken to the leaders of the UAE, Israel, Bahrain, Saudi Arabia, Kuwait, Jordan, Oman and Qatar in the last 48 hours amid the fast-evolving conflict situation in the region.

The PM spoke to Sultan Haitham bin Tarik of Oman, Crown Prince of Kuwait Sheikh Sabah Al-Khaled Al-Hamad Al-Mubarak Al-Sabah and Amir of Qatar Sheikh Tamim bin Hamad Al Thani on Tuesday, and expressed concern over attacks on their countries during the ongoing conflict in West Asia, officials said.

During his telephonic conversations, Modi also discussed with these leaders the welfare and security of the Indian community residing in their countries.

“The Prime Minister spoke to three important leaders from the Gulf region on Tuesday afternoon. He had separate phone calls with Sultan Haitham bin Tarik of Oman, Crown Prince of Kuwait Sheikh Sabah Al-Khaled Al-Hamad Al-Mubarak Al-Sabah and Amir of Qatar Sheikh Tamim bin Hamad Al Thani,” an official said.

During his talks with the leaders, Modi expressed concern over the attacks in their respective countries and discussed the welfare and security of the Indian community residing there.

Around 90 lakh Indians live in the Gulf and West Asia. About 10,000 Indian citizens live, study and work in Iran, while more than 40,000 live in Israel.

Published on March 3, 2026



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T-Hub, SERP, WE HUB launch ₹12.66 cr fund to support rural entrepreneurs

T-Hub, SERP, WE HUB launch ₹12.66 cr fund to support rural entrepreneurs


The programme will be implemented across all 33 districts of Telangana in phases through SERP’s district and block-level institutional network
| Photo Credit:
Andrii Yalanskyi

The Society for Elimination of Rural Poverty (SERP), in collaboration with the Technology Business Incubator Society (TBIS) at BITS Pilani Hyderabad, the start-up incubator T-Hub, and WE HUB, has launched a ₹12.66 crore Challenge Fund to promote rural entrepreneurship.

The initiative, which is backed by the Union Ministry of Rural Development, will support over 300 women and young entrepreneurs through targeted institutional support. It will help shortlisted entrepreneurs build capacity and scale their ventures.

Entrepreneurs operating in manufacturing, food processing, agri-allied enterprises, services, handicrafts and emerging sectors can submit their applications from March 8, 2026, marking International Women’s Day. 

The programme will be implemented across all 33 districts of Telangana in phases through SERP’s district and block-level institutional network.

Backed by the National Rural Livelihoods Mission (NRLM) Incubator Programme, the Challenge Fund will extend structured enterprise diagnostics, customised growth roadmaps and sector-specific mentoring.

In Telangana, more than 65 lakh women are organised into 4.35 lakh Self-Help Groups. By integrating this historically underserved cohort into formal credit, mentorship and market frameworks, the Fund expands the State’s pipeline of growth-oriented enterprises, according to Divya Devarajan, Chief Executive Officer of SERP.

Published on March 3, 2026



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Fed rate cut hopes fade as oil prices surge after US-Iran conflict

Fed rate cut hopes fade as oil prices surge after US-Iran conflict


Expectations of an early interest rate cut by the Federal Reserve weakened sharply after oil prices surged in the wake of US-Israeli air strikes on Iran.
| Photo Credit:
iStockphoto

Expectations that the Federal
Reserve would resume interest rate cuts before September ​eroded
further on Tuesday, as rising oil prices from ‌the U.S.-Israeli
air war against Iran heightened ​concern that inflation pressures
would keep the ⁠central bank in a hawkish posture.

Interest rate futures and Treasury securities saw fierce
selling for a second ‌straight day after the launch of air
strikes against Tehran over the ‌weekend that killed the
country’s long-time leader. ‌With ⁠the crucial Strait of Hormuz
closed to ⁠traffic and the flow of 20% of the world’s crude oil
effectively shut off for an indeterminate time, ​U.S. oil prices
have surged ‌by more than 13% since Friday.

While the U.S. economy is far less sensitive to oil than it
was during the 1970s ‌oil price shocks, it nevertheless poses ​a
risk to headline inflation through higher energy prices. Indeed,
retail gasoline prices jumped ⁠10 cents a gallon in the last 24
hours, according to AAA, with prospects high ‌for more increases
in the near term.

The rate futures selloff knocked down to around 35% the
prospects for a Fed rate cut in June when Kevin Warsh –
President Donald Trump’s nominee to succeed Fed Chair Jerome
Powell – would ‌lead a policy-setting meeting for the first time.
Moreover, ​traders currently see only a 55% chance of a cut by
July, down ⁠from more than 70% in recent days.

The perceived ⁠chance of further easing beyond an initial cut
is dropping as well, with ‌rate traders pricing in only about a
56% chance of a second rate cut ​by December.

Published on March 3, 2026



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Geopolitical shock rattles crypto markets; extended uncertainty clouds Bitcoin’s recovery path

Geopolitical shock rattles crypto markets; extended uncertainty clouds Bitcoin’s recovery path


Escalating tensions in the West Asia have rattled global crypto markets, triggering sharp swings in Bitcoin and other major digital assets as investors dumped risk. 

Sathvik Vishwanath, the co-founder & CEO, Unocoin, noted that as of early March, the intensifying conflict in the West Asia is driving elevated volatility across the global cryptocurrency market rather than stability. Following reports of direct military action involving Iran in late February/early March, major digital assets like Bitcoin and Ethereum experienced immediate sharp declines, with Bitcoin dipping toward the $63,000 area before staging partial rebounds. 

“These swings underscore crypto’s behavior as a high-risk, risk-sensitive asset rather than a traditional safe haven. Rapid de-risking triggered substantial leveraged liquidations, estimated in the hundreds of millions of dollars, intensifying short-term price turbulence. Correlation with broader ‘risk-on’ markets has become more pronounced: crypto has tended to move with equities sentiment, while traditional safe havens like gold reached all-time highs amid the geopolitical shock,” he observed. 

Looking ahead, prolonged uncertainty, especially any threat to strategic chokepoints like the Strait of Hormuz that underpin global energy flows could sustain downward pressure on risk assets including crypto. 

At the same time, structural factors such as institutional inflows into Bitcoin ETFs and the market’s 24/7 liquidity framework have supported rapid recoveries from interim drawdowns. Analysts broadly agree that further volatility is likely to persist until there is meaningful de-escalation of the conflict.

Meanwhile, Nischal Shetty, Founder, WazirX, added that after a $300 million leverage flush, Bitcoin’s weakening sentiment improved marginally, even as equities slid on geopolitical tensions. The support levels are intact and the price reaching $68,000 levels, makes the near-term outlook neutral, inclining towards consolidation. 

However, the short term gain which was sustained only by liquidation of over leveraged positions might not sustain, and Bitcoin might follow the equities way, with more investors allocating capital to risk off assets or limiting exposure to trades

“The current increase of around 4% in the last 24 hours indicates that the market speculations of Fed infusing liquidity to tackle war based economic impact, also have chances of boosting Bitcoin prices. Investors are treading cautiously but are also swept by the majority sentiment,” he said.

Riya Sehgal, Research Analyst, Delta Exchange, argued that despite geopolitical tensions in the West Asia, investors remain composed, as seen in the $1 billion inflows into crypto investment products last week, led by Bitcoin and Ethereum. This signals renewed institutional interest amid broader risk aversion.

She observed that Bitcoin is consolidating between $63,500 and $70,000, forming higher lows on the 4-hour chart, a structure that often precedes a breakout. A sustained move above the $70,000–$71,000 zone could potentially open the path toward $75,000, while a breakdown below $63,500 may expose the $60,000–$58,000 support cluster.

Published on March 3, 2026



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Infosys, Intel deepen collaboration to enhance AI capabilities for enterprises

Infosys, Intel deepen collaboration to enhance AI capabilities for enterprises


Infosys Logo
| Photo Credit:
Hand-out

Infosys and Intel have announced an expanded collaboration aimed at helping enterprises transition from AI pilots to large-scale implementations.

The partnership will leverage Intel’s high-performance computing platforms and Infosys’s Topaz Fabric to create a unified ecosystem for enterprise AI deployment.

The initiative focuses on optimising performance, ensuring security, and driving measurable outcomes across various industries.

Together, Infosys and Intel are co-innovating on the design, development, optimisation, and benchmarking of AI workloads across Intel Xeon processors, Intel Gaudi AI accelerators, and Intel AI PCs, it said.

Salil Parekh, Chief Executive Officer, Infosys, said, “By bringing together Intel’s compute leadership and the capabilities of Infosys Topaz, we are enabling enterprises to unlock AI value at scale – securely, cost-effectively, and with clear business impact.”

“Together, we are delivering performance-optimized, energy-efficient, and open AI solutions that clients can deploy wherever their workloads reside – from data centers to the cloud to the edge,” Lip-Bu Tan, Chief Executive Officer, Intel, said.

(This article was generated using AI)

Published on March 3, 2026



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