Even though the rainfall scenario has improved, the rainfall still has remained weak so far, a report said.
The total kharif acreage was 6.6 per cent lower as of August 2 compared to the corresponding period of the last year, the report said.Even though the rainfall scenario has improved, the rainfall still has remained weak so far, a report said. The spatial monsoon has remained below normal on a cumulative basis so far, the report by Kotak Institutional Equities said. “Till July 31, cumulative rainfall was 9.9% below long-term average with the weekly rainfall 42.2% above long-term average (due to heavy rainfall across western and central India),” it added. Of the 36 sub-divisions across the country, 14 have received deficient rainfall, 20 have received normal rainfall, and 2 have received excess rainfall so far, the report noted. The monsoon season is spread over four months from June to September.
Sowing remains lower
The total kharif acreage was 6.6 per cent lower as of August 2 compared to the corresponding period of the last year, the report said. “Rice sowing was 12.5% lower at 22.4 mn hectares. Oilseed acreage was 6.2% lower at 13.6 mn hectares and pulses acreage at 10.5 mn hectares was 7.6% lower than last year. Coarse cereal acreage was 6.2% lower at 13.2 mn hectares,” it added. The sugarcane and cotton acreages were at 5.2 mn hectares (5.5 mn hectares last year) and 11.5 mn hectares (11 mn hectares last year) respectively, it noted.
Meanwhile, the IMD has said that Maharashtra will keep seeing heavy rains till the middle of this week with ‘heavy to extremely heavy’ showers over Pune, parts of Konkan and Vidarbha till August 8, The Indian Express reported. A trough ran between South Gujarat and Gangetic West Bengal due to which there has been continuous inflow of strong westerly winds blowing from the Arabian Sea, the IMD added. A strong wind as a result has converged over Gujarat and Maharashtra which have received heavy rain, it added.
Do you know What is Positive GDP growth seen in Q3, need to fight inflation: RB, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.
