Monsoon is well 2 and a half months away and already people are ready for what will be the positive effects of the monsoon.
Because Indian economy is typically dependent on the monsoon rains. The Metro logical department on Monday examined the monsoon situation and said that there will be more than prevalent monsoons this year and assured of a great monsoon.
In areas of summer planting where only half of the crop is planted.
What are the different categories of monsoon?
A normal or an average monsoon is between the range of 96 percent to around 104 percent. According to the Meteorological department rainfall below 90percent would be considered as a drought.
During the year 2014 and 15 there were consecutive droughts where the government was heavily criticized. Rainfall of the volume of higher than 110 percent would mean an excessive monsoon and a lot to cheer for.
Why is monsoon important for the Indian economy?
The monsoon is responsible for around 70 percent of the total annual rainfall in India and is also responsible for the yield of crops such as rice, wheat, sugarcane, oil seeds. The farm sector and is responsible for the trillion economies and employ around half a million people in the economy.
It also boosts the demand for the consumer goods and is responsible for raising the income of the people.
Result on the inflation the Central bank policy.
Food is responsible for around 50 percent on the Food price index and Central Bank also closely monitors it while keeping a watch on the monsoons.
If any adequate calculations are taken, the government will limit the spending on such measures.