India to see "normal" monsoon in 2017; 99% of normal monsoon in August: IMD
India Meteorological Department (IMD) on Tuesday said this year rainfall over the country for the period June-September is likely to be Normal with 96% to 104% of long period average (LPA).
In a statement, IMD said, that quantitatively, monsoon season rainfall for the country as a whole is likely to be 98% of the LPA with a model error of plus minus 4%. The LPA rainfall over the country as a whole for the period 1951-2000 is 89 cm.
ALSO READ: Monsoon seen normal this year, IMD says; bonds cut losses
Giving monthly forecast, IMD mentioned that monsoon over the country is likely to be 96% of its LPA during July and 99% of LPA during August both with a model error of ± 9 %.
"The season rainfall is likely to be 96% of LPA over North-West India, 100% of LPA over Central India, 99% of LPA over South Peninsula, and 96% of LPA over North-East India all with a model error of ± 8 %," IMD said.
Monsoon predictions are considered to be very vital for Indian economy as agriculture still largely is dependent on the weather phenomenon.
ALSO READ: Do "seasonal" stocks do well for short-term?
In the earlier forecast, on April 18, IMD had said that rainfall may be 96% of the normal with an error margin of 5% on either side. IMD had also said that there are more than 50% chance of El-Nino developing from August.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
04:13 PM IST