The Indian Meteorological Department has released a statement that has anticipated the monsoon below the exceptions, for the second time in three years. “Quantitatively, monsoon season rainfall for the country as a whole is likely to be 95 per cent of the long period average with a model error of +/- 4 per cent. The long period average rainfall over the country as a whole for the period 1951-2000 is 89 cm. Monsoon would be 98 per cent of the long-period average”, said the IMD in its report.

During a press conference held in New Delhi, the Science and Technology Minister Pawan Kumar Bansal has notified the reporters that rainfall will be 95% of the 50-year average in the June-September season.

Further, the Head of Institutional Equity Net worth Stock Broking, Mr. Prakash Diwan, estimated a hike in food prices, food inflation, in case monsoon is not coming up to the levels.

Additionally, the Bombay Stock Exchange has reflected the immediate market response where Index has faced changing phases of gains and losses, after the forecasted below-normal rainfall. The index floated between 17,524.51 and 17,678.86.

Earlier in April, the first monsoon forecast had anticipated the normal monsoon.