Sowing levels slightly improved at 2.9 percent higher from 2023 as of August 2, compared with 2.3 percent in the previous week, as the rainfall situation improved.
India’s rainfall surplus increased to 6.35 percent as of August 4 compared with 5.71 percent on the previous day. Rainfall has been in surplus for nearly two weeks.
The pickup in sowing can be attributed to a rise in paddy acreage to 5.3 percent as of August 2. Pulses area under cultivation was 10.9 percent higher compared with the previous week.
Sowing levels remain subdued compared to normal, as rainfall distribution has been uneven. Nine states continue to face deficient rainfall conditions, according to data from the Indian Meteorological Department.
IMD has predicted above-normal rainfall for the second phase of the monsoon (August-September).
Northwest parts of the country are the worst hit, with Chandigarh facing over 50 percent deficit and Punjab, a major cereals producer, witnessing 40 percent deficit.
A normal is calculated using a long-period average of 30 years for a specific region.
Better monsoon has improved reservoir levels significantly. The country’s 150 reservoirs registered a 7 percent higher than normal storage as of August 1 compared with a 4 percent deficit the previous week.
Punjab’s reservoirs had 80 percent storage below normal.
Northern and eastern regions have been worst affected, as rainfall has been deficient in these parts. Northern states had a storage deficit of 38 percent, while eastern regions had a 12 percent deficit, with Bihar having a 67 percent storage deficit.
The government is hoping for a revival of its agricultural sector, which recorded 1.4 percent growth in FY24 compared to 4.7 percent in the previous year, also lower than the 3.7 percent long-term average.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.