India, July 28 -- In his speech at the CII National Council, Reserve Bank of India Governor Shaktikanta Das spoke about five dynamic shifts which are underway in the Indian economy. One of the five themes in the speech was "fortunes shifting in favour of the farm sector". The speech cites record production of food grains, fruits and vegetables, and all-time high buffer stocks as "the most vivid silver lining in the current environment". The speech also gives a policy direction for the future.

"Shifting the terms of trade in favour of agriculture is the key to sustaining this dynamic change and generating positive supply responses in agriculture. Experience shows that in periods when terms of trade remained favourable to agriculture, the ...