Late recovery by monsoons

The hide and seek that the monsoons continue to play with the fortunes of rural India and corporates alike has taken a new turn, but this time, thankfully for the better. As per reports, the monsoon rains in India have been near normal for the three consecutive weeks since about the 12th of last month. In fact, the rainfall in the country is said to be almost 4% above normal during this period. Nonetheless, the total seasonal rainfall across India for the full June-September season is still forecast to be 20% below normal despite the recent downpour due to the rains playing truant during the initial part of the season. Interestingly, these rains might just have helped in bringing down the total deficit for this year from 25% to 23%. Also, this last minute comeback is expected to help the case of the depleted reservoirs and affected crops in the country, though its exact impact will be known only later in the year.