GDP to be more than 9% this fiscal
What has the nation's GDP growth got to do with the monsoon ? Everything ! The India Meterological Dept is considering declaring the monsoon to be a " good monsoon ", in sharp contrast with the 2009 monsoon, which was more or less a failure. A good monsoon means rising water levels in the reservoirs and dams. More power. It will raise farm output, control inflation ( particularly food inflation, which was 17.6% ) and spur economic growth. 60% of arable land is rain-fed. Hence monsoon showers are critical to soya bean, edible oil, sugarcane, rice etc. In India, the Monsoon is the real Finance Minister ! Because of the bad monsoon of 2009, Indian agri growth rose only .2%. On the other hand, this year's monsoon will trigger 2.5 % agri growth and 8.5 % GDP growth. If India has sufficient infrastructure, the GDP growth will be more than 10%. A 4% agri growth forecast, many feel, will be too ambitious. Also a double digit GDP growth forecast ! Astro Meteorology is right ag