How important is rain for the indian economy?

Former President and Finance minister Pranab Mukherjee once said that the real Finance minister is the monsoon season from june to September. It can be estimated from this how important the rains during this period are for the economy. Monsoon is responsible for 70% of the country's rainfall. It still supports agriculture to a large extent, replenishes groundwater and helps generate electricity. But changing food habits, open trade policy and the increasing role of emotions in the economy have changed the impact of monsoon on our economic life.

What do experts say?

Bhuvan bhaskar, an expert in agricultural matters, said while talking to ABP News, the weather department's forecast of more than normal rainfall is at the national level. But actually, this happens only in a few areas. In some places, it will rain more than normal and in other places, it may be less. Apart from this, it also matters how much time this heavy rain occurs. If the entire season's rain falls within 15 days, then there is loss, everything gets ruined. Bhuvan bhaskar ji further said that if the rainfall is normal or slightly more than the scheduled time then it will be very good for the crops. It will also have a positive impact on the economy because 50 to 60 per cent of rural india contributes. Even though people are not directly connected with agriculture, they are still connected through their families. Their income and expenditure depend on how good the rains are and how good the crops are.

Understand how the monsoon will affect the economy.

If the monsoon is good this year, the rapidly growing indian economy can gain further momentum. A good harvest brings prosperity to the village and people's purchases increase, be it cars or mobile phones. Good rains increase the supply of goods in the market due to which inflation can also be kept under control. Due to more rainfall, the need for diesel for irrigation of fields also reduces. Additionally, due to excessive rainfall, large ponds of water and the water level under the ground also increase, due to which hydropower plants, which generate cheap electricity, can generate more electricity. Overall, a good monsoon is very beneficial for the indian economy.