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Bloomberg
India’s southwest monsoon, which waters more than half of the country’s farmland and is crucial for economic growth, is expected to be normal this year as El Nino weather conditions are seen staying weak.
The India Meteorological Department (IMD) maintained its April forecast, reiterating that rains during the June-September monsoon season will be
96 percent of the long-term average. The prediction has a margin of error of 4 percent , the weather office said in a statement on its website.
The monsoon is critical to agriculture as it accounts for over 70 percent of annual rainfall and fills reservoirs that help irrigate crops. It shapes the livelihood of millions and influences food prices.
Insufficient rain in the country, the second-biggest producer of rice and wheat, often leads to drinking water shortages, lower crop output and higher imports of commodities like edible oils.
“This is a positive news,†said Soumya Kanti Ghosh, chief economic adviser at State Bank of India.
Better distribution of rainfall may help crops, while a good rainy season should help boost rural demand, he said.