India is likely to receive normal monsoon rains in 2018, the India Meteorological Department (IMD) said, raising the possibility of higher farm and economic growth in Asia's third-biggest economy, where half of the farmland lacks irrigation.
Monsoon rains, the lifeblood of the country's $2 trillion economy, are expected to be 97 per cent of a long-term average, K J Ramesh, IMD’s director general, told a news conference.
He said that there was “very less probability” of a deficient monsoon. The date of onset of monsoon will be announced in the middle of May.
The monsoon is considered normal if the average rainfall is between 96 to 104 per cent of long period average. Anything less than 90 per cent of LPA is termed a ‘deficient’ monsoon, and 90-96 per cent of the same is considered ‘below normal’
The four-month monsoon season provides about 70 per cent of the country’s annual rainfall.
Other than lifting farm and wider economic growth, a wet spell will keep a lid on inflation, potentially tempting Prime Minister Narendra Modi to bring forward general elections due in May 2019.
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