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New Delhi, Jun 4 (PTI) Finance Minister Arun Jaitley today sought to allay fears over predictions of deficient monsoon saying conclusions on that basis either on inflation or some kind of distress situation are "far-fetched".
He also said in the last 48 hours, ever since the IMD predicted deficient monsoon this year, the conclusions were being drawn up in an exaggerated manner and it was necessary to place the finance ministry's view on the subject.
Dismissing the slide in the stock markets in last three days as not a trend, the Minister said revenue, especially indirect tax collections - a key indicator, has shown an impressive jump.
Jaitley expressed confidence that foodgrain production will not be impacted significantly by the prediction of below- normal rainfall in north-western region as the area is well-irrigated while monsoon will be normal in all other parts of the country.
Also, the country had enough foodgrain stocks to meet any contingency, he said.
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