Good monsoon to send encouraging signals for inflation, growth

The above normal monsoon forecast by Met department is likely to bring encouraging signals for the Indian economy both in terms of inflation and growth prospects, says an SBI Research report. According to the research report, after two successive years of drought, the prediction of above normal monsoon will bring cheers to every sphere of the economy. "As agriculture in India depends heavily on monsoons and given its contribution to Gross value added (GVA) growth is around 15 percent, the above normal monsoons will surely have a positive impact on agriculture, thereby boosting economic growth," the report said.

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