For the first time since 2013, the India Meteorological Department has predicted above normal monsoon this year. Surely, there is reason to cheer as the country had reeled under drought for two successive years.
This was probably the reason why the Met department advanced the announcement of its forecast by about two weeks. A normal monsoon augurs well for the economy as it will mean greater purchasing power for the rural sector, with a multiplier effect on growth through demand for consumer durables and consequential investment growth.