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Monsoon in India – IMD forecasts widespread rain across Punjab, Uttar Pradesh, Rajasthan, Uttarakhand: India received above-normal rainfall during the week ended 13 July, even as spatial distribution was skewed towards the central region. Good rainfall in last two weeks has bridged the deficit in June, with cumulative rainfall so far at 4% above LPA as on 13 July. This has pushed up reservoir levels and kharif sowing, even as both remain lower than year ago-levels. The progress of the monsoon over the next two weeks will be critical, in our view. (PTI)
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Monsoon in India: As per IMD data, the southwest monsoon covered the entire country by 13 July, two days ahead of the scheduled timeline. India received 71.5mm of rain during the week ended 13 July – 11% above the LPA for the week. But there was significant regional disparity, with central India witnessing rainfall above 91% of LPA and rest of the country receiving deficient rainfall. (PTI)
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Monsoon in India: India has received good rainfall in the last two weeks, more than making up for the deficiency in June (-10.6%). Cumulative rainfall so far (1 June-13 July) stands at 4% above LPA. About 30 of the country’s 36 sub-divisions have received normal/excess rainfall, with only Gujarat, Bihar and parts of northeast recording a deficit. The pick-up in monsoon will aid kharif sowing and agri-output, even as progress over next two weeks remains the key. (PTI)
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Monsoon in India: The pick-up in monsoon has brought up water levels in 91 major reservoirs of the country to 29% of their total storage capacity as on 14 Jul’16 from just 18% a week ago. This would help cater to irrigation needs and hydropower generation, which consistently declined over the last 10 months with reservoir levels touching record lows due to two poor monsoons. However, the current storage levels remain lower than 32.8% of capacity seen a year ago. (PTI)
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Monsoon in India: Owing to the delayed onset of monsoon and the deficiency in June, farmers had delayed kharif sowing. Nevertheless, good rainfall in the last week of June and the first week of July has boosted sowing during this period – Kharif sowing stood only 5.9% lower YoY as on 8 July as against 24% lower on 24 June. A total of 40.1% of area was sown by 8 Jul’16 vs. 41% a year ago. Given that the area sown is a key determinant of crop output, it is imperative that sowing picks up pace in the next few weeks. (PTI)
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Monsoon in India: A record 4.9mn hectares was cultivated for kharif pulses by 8 July’16, which is 26% higher on a YoY basis. As a proportion of the normal area sown for pulses, the figure stands at 42.7% versus an average 25% over the last four years. This is a positive development, given that pulses output has declined by 11.4% over the last two years, leading to high inflation in pulses. Nevertheless, area sown for oilseeds (soyabean and groundnut) and cotton remains has fallen sharply and is a cause of concern. Deficient rainfall in the Gujarat region has led to a drop in acreage of these items. By Jay Shankar, Chief India Economist and Rahul Agrawal
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