Will the monsoon wash away some of India’s economic woes? ...Middle East

Quartz - Economy

Like every year, Indian industries and economists are on tenterhooks about the monsoon season. And this year, there is more reason to be concerned.India’s GDP growth contracted by 7.3% during the year that ended on March 31, and less-than-sufficient rainfall could bring more bad news for the economy as it battles with an unprecedented slump due to the Covid-19 pandemic.Even as the southwest monsoon has now reached all parts of the country, there was a two-week delay in its arrival, which experts believe could hit some industries. “Monsoons are crucial to agriculture activity, rural incomes, and demand,” said Kavita Chacko, senior economist at rating agency CARE Ratings. “The delayed monsoons

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Last updated : 26 July 2021 clock 08:45 AM

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Will the monsoon wash away some of India’s economic woes? ...Middle East

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