Good monsoon is expected this year
Scarcity of rain was one of the major causes of India's rise in inflation in last couple of years. In most part of the country, there has been very less amount of rain fall. It has affected the production of various 'kharif' crops. Due to this deficient rainfall, the agricultural output of the country was too low. Hence, all eyes are on the monsoon this year.
Last year very poor monsoon was recorded in all across the country. And market expects believe that the country's economy could not bear another successive year of inadequate rainfall.
However, in such circumstance the preliminary rainfall estimation released by the International Forecasting agencies has brought some short of relief. The forecasting agencies are anticipating a reasonably good rain fall in this year. International organizations like Columbia University's International Research Institute for Climate and Society and Japan based Frontier Research Center for Climate Change have released their estimation report.
Based on the current atmospheric conditions the research firms have predicted that the probability of good rain fall in the country is too high this year.