The southwest monsoon is off to a good start as the country received 4% more rains than normal in the first month of the June-September season. This augurs well for the economy, particularly the stressed farm sector.
Farm output is expected to top last year’s record harvest, while food inflation is likely to be moderate if the monsoon remains close to normal in the weeks ahead.
The rainfall in June has been heavy and well distributed in the key agricultural northern, western and central India, encouraging farmers to expand the area under cultivation by 19%. In the breadbasket states of Haryana and Punjab, rains have been twoand-half times normal.
There is more good news in the offing for farmers. "Above normal monsoon rainfall is likely to continue in the coming months," a senior official at India Meteorological Department told ET. Read More.
Farm output is expected to top last year’s record harvest, while food inflation is likely to be moderate if the monsoon remains close to normal in the weeks ahead.
The rainfall in June has been heavy and well distributed in the key agricultural northern, western and central India, encouraging farmers to expand the area under cultivation by 19%. In the breadbasket states of Haryana and Punjab, rains have been twoand-half times normal.
There is more good news in the offing for farmers. "Above normal monsoon rainfall is likely to continue in the coming months," a senior official at India Meteorological Department told ET. Read More.