Connect with us

Business & Finance

Anand Mahindra optimistic about IMD’s positive monsoon forecast, foresees economic growth



‘Bountiful monsoon signals prospect’: Anand Mahindra on IMD's positive monsoon forecast, expects economic growth

Indian business magnate Anand Mahindra took to social media platform X on April 16 to express his optimism regarding the recently released Indian Meteorological Department (IMD) monsoon forecast. The IMD predicts a “bountiful monsoon” with rainfall exceeding 100 per cent of the Long Period Average (LPA). Mahindra’s tweet acknowledged India’s improved economic resilience in the face of fluctuating monsoon patterns, emphasizing the potential for higher economic growth with a bountiful monsoon.

Mahindra’s tweet further highlighted the role of technological advancements in improving weather forecasting accuracy, attributing the reliability of the @Indiametdept forecasts to these advancements. The IMD’s official announcement predicts a southwest monsoon season with rainfall exceeding the LPA, expecting seasonal rainfall to be around 106% of the LPA with a margin of error of +/- 5%. Mahindra concluded his tweet by declaring the forecast as “outstanding news.”

Meanwhile, rating agency Crisil announced on the same day that it is expecting the current moderate El Niño conditions to ease to neutral in the coming months, with La Niña conditions likely to develop during the second half of the monsoon season. The relationship between El Niño and La Niña plays a significant role in influencing the Indian monsoon, with past data showing favorable outcomes for the monsoon when La Niña follows an El Niño event.

Crisil’s ‘Rainbow Skies’ Report also highlighted the Indian Ocean Dipole’s neutral state, expected to turn positive in the second half of the monsoon season, further benefiting the Indian monsoon. Overall, the positive outlook on the monsoon forecast and the potential economic growth it signifies have brought optimism to various sectors in India.

Click to comment

You must be logged in to post a comment Login

Leave a Reply