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Kashmiri apple growers, bat makers face massive losses

The apples will ripe in a week's time, but his labour force is gone after the mass exodus of non-Kashmiris from the Valley following government advisory. They are staring at a massive loss this year says a Kashmiri.

Kashmiri apple growers
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Published : Aug 22, 2019, 1:54 PM IST

Srinagar: Continuous lockdown in Jammu and Kashmir is having a big impact on apple farming in the Valley. With the harvesting season just around the corner, Kashmiri apple growers are a worried lot.

The twin districts of Shopian and Kulgam in south Kashmir are the major apple growing centres where people are anxious and not sure as to what lies in store.

Ghulam Mohammad looks at the apples in his orchard with a sense of uncertainty. The apples will ripe in a week's time, but his labour force is gone after the mass exodus of non-Kashmiris from the Valley following government advisory. He says he is staring at a massive loss this year.

Kashmiri apple growers
Kashmiri apple growers
"It looks very unlikely that we will be able to meet our target under the prevailing conditions. I am not a stone pelter... What is my fault, why am I made to suffer," asked Muzaffar Ahmad, an apple grower in Anantnag in south Kashmir, voicing similar concerns. The impact of the shutdown is growing by the day, leaving the apple growers worried. The people in Hallmolla area of Anantnag, famous for manufacturing cricket bats, echoed similar sentiments. The bat makers say there are no takers for the willows at the moment."Our business is totally dependent on tourists and yatris. With almost zero visitors in Kashmir now, our business has plunged to almost zero. Our labourers have gone, while untimely rains have made things worse for us," said Gul Javed, a bat manufacturer.

Read More: Zomato to rearrange 'Gold' service, restaurants refuse to budge

Srinagar: Continuous lockdown in Jammu and Kashmir is having a big impact on apple farming in the Valley. With the harvesting season just around the corner, Kashmiri apple growers are a worried lot.

The twin districts of Shopian and Kulgam in south Kashmir are the major apple growing centres where people are anxious and not sure as to what lies in store.

Ghulam Mohammad looks at the apples in his orchard with a sense of uncertainty. The apples will ripe in a week's time, but his labour force is gone after the mass exodus of non-Kashmiris from the Valley following government advisory. He says he is staring at a massive loss this year.

Kashmiri apple growers
Kashmiri apple growers
"It looks very unlikely that we will be able to meet our target under the prevailing conditions. I am not a stone pelter... What is my fault, why am I made to suffer," asked Muzaffar Ahmad, an apple grower in Anantnag in south Kashmir, voicing similar concerns. The impact of the shutdown is growing by the day, leaving the apple growers worried. The people in Hallmolla area of Anantnag, famous for manufacturing cricket bats, echoed similar sentiments. The bat makers say there are no takers for the willows at the moment."Our business is totally dependent on tourists and yatris. With almost zero visitors in Kashmir now, our business has plunged to almost zero. Our labourers have gone, while untimely rains have made things worse for us," said Gul Javed, a bat manufacturer.

Read More: Zomato to rearrange 'Gold' service, restaurants refuse to budge

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Pro-growth RBI minutes to cap yields; revives expectations for further policy easing
By Gurdip Singh
          Singapore, Aug 22 (PTI) Minutes from the Reserve Bank of India's August meeting has revived expectations for further policy easing as headline inflation is likely to remain within target over the next one year, says a DBS report.
          According to the report, pro-growth Reserve Bank of India (RBI) minutes are expected to cap bond yields.
          "INR 10Y (generic) government bond yields are likely to stay below 6.7 per cent after RBI minutes revived expectations for further policy easing," Radhika Rao, Economist, and Eugene Leow, Rates Strategist at DBS Group Research said in the report.
          Weakening growth was a dominant worry for policy makers amid weaker global activity, they noted.
          "With RBI projecting inflation at below target over the next four quarters, the door for cuts remains open. We suspect further downward growth revisions might trigger further rate response," the DBS report said.
          The report however cautioned that "the debate over remaining policy space is beginning to surface" after 110 bps cuts already undertaken and another likely in the fourth quarter (4Q).
          In an unusual move, the Reserve Bank of India (RBI) on August 7 had reduced the benchmark lending rate by 35 basis points to 5.40 per cent amid concerns over slowdown in economy. Before this, the RBI had reduced the rate thrice, each time by 25 basis points.
          "Transmission will be accorded the highest priority, as the RBI's moral suasion attempts, surplus liquidity and consideration of an external benchmarks nudged banks to act," the DBS report noted.
          While the RBI has lowered the repo rate by 1.1 percentage points in 2019, the banks are yet to pass on the entire benefit of lower interest rate to borrowers.
          RBI Governor Shaktikanta Das recently asked all banks to link their interest rate with repo for faster transmission of the central bank's policy actions. PTI GS
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