A normal monsoon is crucial to push economic growth, which slowed last year under the lingering impact of demonetisation and disruptions due to GST rollout. “For the third consecutive year, India will have a normal monsoon. The average rainfall over the past 50 years, or the long-period average (LPA), is 89 cm. Past data show a positive correlation between growth rate of agriculture GDP and actual rainfall. The centre in its budget this year promised minimum support prices (MSP) at costs plus 50% margin and said it will announce a policy for effective procurement of crops at support prices.

Source: Mint April 16, 2018 10:46 UTC