Assocham-Skymet report says untimely rain may reappear in north India.
El Nino is expected to occur in August-September, but it is unlikely to have any major impact on the monsoon, and the weatherman expects a positive Indian Ocean Dipole, which has a strong influence on rainfall in the country.
The India Meteorological Department's first monsoon forecast for this year would have gladdened many a heart with the hope of plentiful rain, after two drought years.
The IMD dispelled fears by forecasting a normal monsoon for June-September. Rainfall is expected to be 98 per cent of the long period average, significantly higher compared to last year's 77 per cent LPA.
With monsoon rainfall 16% below the long-period average, total sowing area is down by 7% at 56.7 million hectares so far this season.
IMD will present its month-wise and region-wise forecast in June.
Given IMD's past record on forecasts, the latest one could also go wrong.
While the IMD had forecast a 'normal' monsoon for the entire season, Skymet stated that rain this year would be 'below normal', report Sanjeeb Mukherjee and Sahil Makkar.
The forecast for better rains this seasons comes after India witnessed one of the worst droughts in recent times when the monsoon had failed last year.
Though the summer is expected to be hotter, global and domestic forecasts point to good rains.
The news will augur well for the country as large parts have been witnessing agriculture distress and water levels in reservoirs in west and south India have dipped to low levels.
India will get active cooperation of the Portuguese for development of the game at grassroots level.
A five-seven per cent agriculture growth in 2013-14 would mean farming might exceed the 12th Five-Year Plan annual growth target of four per cent, if the trend continues.
'It was Parrikar's sharp insights into finance and international systems that stood out when India --at his suggestion -- decided to procure the Rafale combat jets from France.'
The Budget allocation for Ministry of Agriculture and allied activities has grown by 114% since 2010-11
Till June 30, the southwest monsoon was 33 per cent lower than normal, which is among the worst in the last five years, with 28 of the 36 meteorological divisions recording deficient rain.
The agriculture sector has witnessed feeble growth on account of drought for two successive years
Auto stocks led the rally with Tata Motors, Hero MotoCorp and Maruti Suzuki leading the gains.
Till Thursday, the country had received 41 per cent less June rainfall than normal - the scantiest in a decade and one of the rarest occasions when the shortfall in the month was more than 30 per cent - private weather forecaster Skymet said in its daily weather forecast on Friday.
The prices of oilseed, coarse cereals & vegetables could also be affected.
A third of FMCG sales and half of motorcycle sales come from the hinterlands
According to Skymet Weather, the initial surge in the Monsoon rains can be attributed to the transition of El Nino into the neutral phase.
The central bank, however, warned that the downside risks to growth could play out if global recovery slows.
It has also advanced into most parts of Tamil Nadu, some parts of south interior Karnataka and remaining parts of south Bay of Bengal, according to IMD.
Total area sown till last Friday was 16.56 mn hectares, up 23%.
The government hopes of registering GDP growth rate ranging between 6.1-6.7 per cent in 2013-14.
'The last time we had such a late withdrawal of monsoon was in 1960 or so.'
The impact of weak monsoon so far this year on India's farm production and economy is likely to be limited, the central bank said, as rainfall levels have improved considerably over the past one month.
Global cues lift Sensex 364 points; Nifty ends above 8,650.
'The first two months of monsoon are not looking good.' 'In case both the halves fail, it is going to be misery.'
The industry expects Iran to purchase at least 1 million tonnes this financial year
According to World Gold Council (WGC), gold jewellery demand in India, the world's largest consumer, touched record 662.1 tonnes in 2014.
We had prepared a contingency plan for 580 districts, the minister said.
Tata Motors was the top gainer on better-than-expected June quarter revenues
For the second successive year, Monsoon is likely to be below normal with parts of north-west and central India to be the most affected.
Fear factors weights on markets, Sensex, Nifty struggle to keep pace.
Normal monsoon makes FMCG, automobile and consumer durable companies optimistic about growth prospects
Financials ended mixed despite the status-quo on key rates by the RBI. SBI, ICICI Bank and Axis Bank ended up 0.4-2.5% each.
The India Meteorological Department on Tuesday said the monsoon this year is expected to be 'above normal.'
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