Below-normal monsoon likely to lower agricultural GDP
growth to 0.8% in FY15
11/06/2014 17:53
A below-normal monsoon is likely to drag down the food output with India's agricultural GDP growth likely to slump to 0.8 per cent in the current fiscal, reported PTI. According to media reports, The Indian Meteorological Department yesterday forecast that the country is expected to receive a below-normal monsoon rainfall of 93 per cent this year. "Based on the current forecast, we expect agricultural GDP growth to slow down to 0.8 per cent year-on-year in FY'15 from 4.7 per cent in FY14," it said. According to IMD, the north western region is likely to be the worst-hit while the rainfall in the north-eastern region is likely to be close to normal. "The forecast of a poor rainfall during the month of July is a cause of concern as food production during the summer crop season is most dependent on the July rain," report said.
11/06/2014 17:53
A below-normal monsoon is likely to drag down the food output with India's agricultural GDP growth likely to slump to 0.8 per cent in the current fiscal, reported PTI. According to media reports, The Indian Meteorological Department yesterday forecast that the country is expected to receive a below-normal monsoon rainfall of 93 per cent this year. "Based on the current forecast, we expect agricultural GDP growth to slow down to 0.8 per cent year-on-year in FY'15 from 4.7 per cent in FY14," it said. According to IMD, the north western region is likely to be the worst-hit while the rainfall in the north-eastern region is likely to be close to normal. "The forecast of a poor rainfall during the month of July is a cause of concern as food production during the summer crop season is most dependent on the July rain," report said.
