How Monsoons will be crucial for economic growth?

Monsoons are not only the harbinger of joy as it marks the end of scorching summers. Monsoons are also crucial to determine the economic forecast of the financial year. The phenomenon is closely watched by farmers, policy makers and industrial experts as monsoon rains are essential for better agriculture outputs. The cultivable Indian lands will be rain-fed in the process and gets ready for a hopeful harvest for the season to boost the agriculture sector.

After two consecutive years of shortfall in monsoons, real estate widely anchors its hopes to the above-average monsoon predicted this year. In a stage where Real Estate Bill, reduced home loans, maintained fiscal deficit etc have placed real estate for a much awaited revival, the industry now look forward to the contribution of monsoons for its fairplay. Following paragraphs will detail why agrarian India is widely depending on monsoons for sustainable economic growth.

Rice Production: Being the world’s second largest grain producer, we depend on healthy monsoons to assure good harvest. The exports of grains will regain strength and will provide more income for farmers and seeks a positive windfall in economic growth.

Sugarcane: We are also the world’s second largest sugarcane producers in the world after Brazil. If states like Uttar Pradesh, Maharashtra, Karnataka and Tamil Nadu are to reap the best, monsoon should be positive.

Cotton: India is also the main global hub of producing the versatile Cotton. Besides clothes, cotton is also used for home wares and industrial purposes. Gujarat, Maharashtra, Andhra Pradesh depends widely on the seasonal rains for cotton production. All they need is a better monsoon.

Pulses: We are also the world’s largest pulse producing country. Besides being one of the vital ingredients of Indian diet, this edible crop is also the major staple food across different cultures. A fair monsoon would mark the decisive factor on our pulse production.

Good monsoon forecast is also analyzed to surge the demand of gold in India, the second largest gold consumers across the globe. The seasonal rains also replenish the water reservoirs for irrigation purposes, groundwater contents as well as increase the hydropower output of the nation. So good monsoons will guarantee a quality and prosperous living conditions for people and thus the real estate will seek an unprecedented growth.

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