In a recent piece, Brookings India scholar Subir Gokarn writes about the twin challenges facing India’s new prime minister Narendra Modi – oil and water. Both will have a large impact on the Indian economy. The monsoon season has become more unpredictable, given the impacts of climate change. (Gokarn has discussed the impact of climate trends for India in previous posts here and here.) Gokarn lays out the potential impacts from a bad monsoon season on food supply and prices. Gokarn also examines the impact of the crisis in Iraq on oil imports to India, and the heavy cost of the oil subsidies, which add to inflation. Gokarn lays out a few recommendations for stabilizing the domestic situation when it comes to agriculture and energy.
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