The monsoon embraced the capital on June 30 last year, July 13 in 2021, June 25 in 2020, July 5 in 2019 and June 28 in 2018, according to IMD data.
IMD has retained its forecast for a normal monsoon season for the country, barring the northwestern region
Deficient rains can be a bane for agri- and rural-centric companies, while a boon for sectors that offer respite from scorching heat
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IMD provides agro-meteorological advisory services including weather forecasts and crops for each district.
Skymet said the monsoon this year could be 100 percent of the long period average (LPA) with a model error of plus and minus 5 percent
Speaking to CNBC-TV18, IMD Head-Long Range Forecasting DS Pai said around 80 percent of country has received normal or above-normal rainfall and Central India has had 18 percent above normal rain in July.
The private weather forecasting firm has reiterated its earlier prediction of this season's monsoon being at 107 percent of the long period average, VP - Meteorology GP Sharma told CNBC-TV18.
CRISIL Research has revised its GDP growth forecast down by 50 basis points to 7.4% from 7.9%, and expect agriculture growth to be 1.5% on a weak base of 0.2% in FY15. On the demand side, expect consumption revival to be moderate, cushioned somewhat by lower inflation and interest-rate cuts, says the report.
In what may serve as a dampener for the economic prospects of the agricultural sector, US-based forecaster Earth Science today revised downwards its India monsoon forecast to 88 percent of the long period average (LPA).
India has downgraded this year's monsoon forecast to 88 percent of the long-term average, Earth Sciences Minister Harsh Vardhan said on Tuesday, raising fears of a drought in the country where nearly half of farmland lack irrigation facilities.
The government aims to achieve an all-time high of 245 million tonnes (MT) of foodgrain production in 2011-12 crop year, notwithstanding a below normal monsoon forecast by the Met Department.