India : IMD retains forecast of above-average monsoon
Mon Aug 01 2016
Ramesh Sridharan (202 articles)
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India : IMD retains forecast of above-average monsoon

NEW DELHI : India’s weather office on Monday retained its forecast for an above-average monsoon this year, boosting hopes of a rise in farm output and income after two years of drought.

The June-September monsoon rains, crucial for India’s farm sector, will be 106 percent of a long-period average, the weather office said.

The second half of the monsoon is expected to bring plentiful showers and is forecast at 107 percent of long-period average.


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Ramesh Sridharan

Ramesh Sridharan

Ramesh Sridharan is our Stock Market Correspondent covering events and daily movements of stock markets in Asia. He is based in Mumbai