New Delhi: India will get a normal monsoon this year, with rainfall expected at 97% of the average, auguring well for agricultural output and brightening market sentiment, the national weather office said.
The monsoon is considered normal if rainfall is between 96% and 104% of the LPA of 89 cm, which is the average between 1951 and 2000. Last year, rainfall was 95% of the LPA during the monsoon season.
While the IMD’s prediction may send cheers for the economy at the outset, the arrival of the monsoon and distribution of rainfall are important factors. “See, 97% is a good top-line number.
But it does not necessarily mean that it will lead to a higher output, though normally it would. But I think the more important part is, we’ve had very good crops the last two years, but farmers’ incomes have not gone up, which means we need to see how the MSP turns out to be,” said Madan Sabnavis, chief economist at CareRatings.