INSUBCONTINENT EXCLUSIVE:
IMD Monsoon Forecast: Onset of monsoon will start in Kerala from end of May or first week of June.
The India Meteorological Department (IMD) forecast a normal
monsoon at 97 per cent of long period average for the country on Monday
"Considering the Indian Ocean variabilityIndia is going to witness the third successive normal monsoon with a quantitative figure of 97 per
cent plus minus 5 per cent
India will not experience a deficient monsoon," said Dr KJ Ramesh, Director General of Meteorology, IMD
The onset of monsoon is expected in Kerala from the end of May or the first week of June, and will cover the country in the next 45 days.The
IMD will again brief in May after the monsoon hits and the next assessment will happen in June
Moreover, sectors like fast moving consumer goods, auto, fertilizers, and cement are likely to get a boost
Agriculture accounts for nearly 15 per cent of the nation's GDP (gross domestic product)
There is a direct co-relation of economy with rains
KIFS.A 'good'/'poor' monsoon will have affect inflation in the economy
Recently, retail inflation for the month of March hit a five-month low as it eased to 4.28 per cent as compared to 4.44 per cent in February
However, it was still above the Reserve Bank of India (RBI) medium-term target.Earlier on Monday, wholesale inflation was recorded at 2.47
per cent in March against 2.48 per cent in February, government data showed.The Monetary Policy Committee of the Reserve Bank of India (RBI)
cut its April-September inflation projection to 4.7-5.1 per cent, from a previous range of 5.1-5.6 per cent it had forecast in February
The RBI kept its key policy rates unchanged in in April meet
The second bi-monthly monetary policy meet of the RBI is slated to happen in June.Meanwhile, the SP BSE Sensex surged 112 points, or 0.33
per cent, to close at 34,305 while the broader NSE Nifty50 gained 47 points, or 0.46 per cent, to settle at 10,528.Agriculture-related
stocks finished Monday' session on a mixed note
Twelve fertiliser stocks gained while seven declined and two remained unchanged
Indira Industries closed 7 per cent higher, Shiva Global Agro Industries gained 6 per cent while Chambal Fertiliser and Chemicals ended 5
