The chances of negative impact of monsoon on the country's economy have decreased in the current year

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MUMBAI: Early indications of the current year's monsoon indicate that the chances of a negative impact on the country's economy have reduced. The agricultural production in the current year is also likely to be better than that of 2022.

Monsoon in 2022 was generally normal but rainfall distribution was uneven in some states. Food inflation rose to 6.70 percent last year as a result of uneven rainfall.

The SBI Monsoon Impact Index considers four parameters across the country's 15 largest states in terms of agricultural output to gauge the distribution of rainfall on the economy.

These criteria take into account the contribution of those states to the total grain production of the country, the amount of below normal rainfall, the irrigation status and the overall pattern of rainfall among the states.

The Monsoon Impact Index of the last full monsoon was 60.20, while the current year's index is currently at 64.00, it has been reported in the report. Which indicates good monsoon conditions.

This index is expected to reach 90 which indicates that the economy will not be adversely affected by the monsoon. The observatory has predicted that the current year's monsoon will be normal.


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