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The government in its ‘First Advance Estimates of production’ has estimated that kharif rice production in the country to fall by 3.79% to 106.31 million tonnes in the kharif season of the 2023-24 crop year (July-June) as compared to 110.5 million tonnes during the same season in the previous crop year. This is attributed to poor rainfall in key growing states. Area under Rice which is the major Kharif crop is estimated to be higher by around 2 lakh hectare over previous year final estimate and by around 4.5 lakh hectare over average Rice Area.
During the kharif season 2023, total foodgrain production is predicted to be 148.56 million tonnes, down from 155.7 million tonnes the previous year. Maize production is estimated to be 22.48 million tonnes in the kharif season 2023-24, lower than 23.6 million tonnes last year. Tur output is predicted to be slightly higher this year, at 3.42 million tonnes, compared to 3.31 million tonnes last year. Moong production is estimated to be 1.40 million tonnes, lower than last year’s 1.71 million tonnes. Urad production is estimated at 1.50 million tonnes.
Oilseeds production is estimated to decline to 21.53 million tonnes from 26.15 million tonnes. Groundnut and soybean production are anticipated to be 7.82 million tonnes and 11.52 million tonnes, respectively. Meanwhile, sugarcane production is expected to come down to 434.7 million tonnes from 490.53 million tonnes last year. Cotton production is also expected to drop to 31.65 million bales (of 170 kg each) from 33.6 million bales, and jute to 9.19 million bales (of 180 kg each) from 9.39 million bales. This first Production assessment for 2023-24 (Kharif) is largely based on the average yield of last 3 years and may undergo change after receiving the yield estimates based on actual crop cutting experiments.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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