India Investment, Stocks, Credit Card and Retail Forum
Investments in Indian Equity and Research => Indian Economy, Macro, RBI Policies => Topic started by: chetan on September 11, 2010, 05:31:07 PM
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According to IMD, on an all-India area-weighted basis, cumulative rainfall was 1% above normal to September 8 compared to 1% below normal the previous week. Weather conditions have remained largely good throughout thus far this season.
The geographical distribution of rainfall has also been good. Cumulative rainfall (unweighted basis) received in the western, southern, and northern regions was 18%, 11%, and 4% above normal up to September 8 compared to 16% below normal in the eastern region during the same period.
Typically, volume growth in the summer crop output tends to track the area under cultivation. As of September 9, 2010, overall crop area under cultivation for summer (kharif) crop stood at +7.3% YoY. We expect strong growth in the summer crop (which accounts for about 50% of the fiscal year's agricultural production) output in this fiscal.