NEW DELHI Monsoon rains are likely to end in India later than usual this year, with plentiful showers towards the latter stages of the season helping farmers recover from two straight droughts, the chief of the country's weather office told Reuters on Friday.
NEW DELHI Monsoon rains in India were 7 percent below average in the week ending June 22, the weather office said on Thursday, narrowing the deficit since the season started on June 8.
"Monsoon has a big linkage effect on not only rural income but overall growth and inflation and if we have another sub-par monsoon, then contribution of farm sector to GDP will be near zero."
GAURAV KAPUR, Senior Economist Royal Bank of Scotland, Mumbai
"Fertiliser consumption will improve in 2016/17 season, especially due to better demand for winter-sown crops like wheat. Imports of fertilisers will not rise despite good demand as we have ample inventory. The drought had squeezed sales last year."
U.S. AWASTHI, Managing Director IFFCO, New Delhi
"I was expecting a lower monsoon forecast. However, this is just the first estimate and we need to see the second estimate, which will be closer to the monsoon time, for clarity on its impact on growth and inflation. I don't expect any change in RBI's policy stance based on this monsoon forecast as they have just lowered the interest rates and will wait the second round of forecast."
INDRANIL PAN, Chief Economist IDFC Bank Ltd, Mumbai