India?s southwest monsoon dipped to 64% below normal during the week ended August 5, its second straight fall. This has widened the season?s overall deficit to 27% below normal from 19% the previous week.
The week?s rainfall was the worst after mid-June. Total rainfall since the start of season on June 1 was a quarter below average, the India Meteorological Department said on Thursday.
Weak monsoon could crimp recovery in the economy, trying to come back to an 8% rate of growth for 2009-10. ?This is not going to be a very good kharif crop. It is possible that there could be a short-term spurt in prices,? said Montek Singh Ahluwalia, deputy chairman, Planning Commission.