Monsoons this year could be similar to 2012: Skymet

Slowing growth, high inflation, shrinking factory output, drop in exports, as if this list was not bad enough, unusual weather changes also could hurt the economy this year.

These fears are getting compounded thanks to freak weather in many parts of the country. There was snowfall in the middle of March and even a hailstorm in Beed district of Maharashtra.

All this when South India is reeling under severe heat. Many other northern parts of the country are also witnessing heavy rainfall.

Ratings agency Crisil in a report last week had said that if the monsoon is impacted this year GDP growth will only be as high as 5.2 percent and retail inflation could spike drastically.