Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Industry / IMD says monsoon rainfall below average and less than forecast as season ends
BackBack

IMD says monsoon rainfall below average and less than forecast as season ends

Indian monsoon rains were 95% of the long-term average compared with the Indian Meteorological Department (IMD)'s forecast of 98%

IMD’s forecast for the 2017 monsoons was its most accurate since 2008, when there was a difference of only 1 percentage point between the forecast and the actual rainfall. Photo: AFPPremium
IMD’s forecast for the 2017 monsoons was its most accurate since 2008, when there was a difference of only 1 percentage point between the forecast and the actual rainfall. Photo: AFP

New Delhi: Rainfall in India’s annual monsoon season was below average and less than forecast, with some crop-growing central and northern states receiving less rain than needed, the Indian Meteorological Department (IMD) said on Saturday as the rainy season ended.

Indian monsoon rains were 95% of the long-term average compared with the IMD’s forecast of 98%, marking the fourth straight year in which the national weather office has overestimated likely rainfall.

The monsoon, which delivers about 70% of India’s annual rainfall, is critical for the farm sector that accounts for about 15% of India’s $2 trillion economy and employs more than half of the country’s 1.3 billion people.

India’s rainfall was below average mostly because of low rainfall in the oilseeds and pulses-growing central state of Madhya Pradesh and in the rice-growing northern states of Haryana and Punjab. While rice output is expected to be down 2% compared with last year due to better irrigation in the rain deficient northern states, soybean output could fall about 8%, the government said this week.

The IMD for the first time adopted the so-called dynamic model, based on a US model tweaked for India, to improve the accuracy of its forecasts.

IMD’s forecast for the 2017 monsoons was its most accurate since 2008, when there was a difference of only 1 percentage point between the forecast and the actual rainfall.

The weather office was similarly accurate in 2011, when the difference was 3 percentage points. Reuters

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 30 Sep 2017, 10:52 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App