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Poor rains could affect India’s farm GDP growth

Poor rains could affect India’s farm GDP growth
PTI
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First Published: Wed, Jul 01 2009. 10 44 AM IST
Updated: Wed, Jul 01 2009. 10 44 AM IST
Mumbai: Poor rainfall in rain-dependent central and southern India in next three weeks could affect agricultural GDP growth in the coming season, a report by broking firm Motilal Oswal has said.
Though the Indian Meteorological Department (IMD) expects the south-west monsoon to cover the entire country by the middle of July and central Indian region within a week, lower than projected rainfall in this region during the coming fortnight could result in lower acreage and poorer yields of crops like paddy, coarse cereals, pulses and other non-food crops like sugarcane, cotton and oilseeds, the report said.
According to D S Pai, director, Office of Additional Director General of Meteorology (Research), the IMD expects good monsoon showers in central India in next two-three weeks.
In its second-stage release, IMD had reduced the south-west monsoon forecast for 2009 (June to September) from 96% to 93%.
“Though the forecasts by some global agencies indicate higher probability of lower rainfall, IMD believes that their studies are not India-focussed,” the report said.
IMD data revealed that the overall rainfall for the week ending 24 June, 2009, was 64% lower than normal while cumulative rainfall for the season (1-24 June, 2009) was 54% lower than normal, the report said.
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First Published: Wed, Jul 01 2009. 10 44 AM IST
More Topics: Monsoons | Agriculture | India | GDP | Economy |