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29Th July 2016
Industry
and farmers can heave a sigh of relief as India has received rainfall in line
with the long period average (LPA) during the period 1 June to 27 July 2016.
The month of July has witnessed an overall monsoon surplus up to 8% up to now.
There is cheer for the East and Northeast as they received heavy rainfall in
the last week. This has led to a reduction in the cumulative rainfall deficit
to 12% from 17% one week back in this region. The India Meteorological
Department (IMD) has continued with the prediction of ‘above normal’ monsoon at
106% of benchmark Long Term Average (LPA). The Total Investment & Insurance Solutions
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| Long Term Average (The Total Investment & Insurance Solutions) |
In
the week up to now, around 30% of the country’s area has got excess rainfall,
50% received normal’ rainfall, while 20% received deficient rainfall. Coming to
individual states, major deficit was seen in Gujarat, which has received
rainfall which is 50% lesser than long period average (LPA). Kerala, Himachal
Pradesh, Odisha, Jharkhand and parts of the North-east also saw deficient
rainfall. Deficient rainfall has been defined as rainfall which is 90% less
than long term average. Nearly all the districts in Maharashtra have received
either excess rains or normal rains.
Good
rainfall in the first two weeks of July aided a pick-up in kharif sowing, with
the area sown up by 3.3% year-on-year (y-o-y) as on 22 July as against a 5.9%
decline by 8 July. According to a Religare report, a record 9 million hectares
were cultivated for kharif pulses by 22 July, which is significantly 39.4%
higher as compared to the previous year. The area sown for cereal and oilseeds
too rose marginally by 1.7% and 4.3% y-o-y respectively.The Total Investment & Insurance Solutions
Coming
to water reservoirs, the Religare report further stated that the levels
increased drastically to 38% of the total storage capacity as on 28 July from
merely 15.2% in June-end. However, the overall storage position is less than
the average storage of the last ten years during the corresponding period.
Also, it is less than the corresponding period in the last year. The water
levels in Central India are significantly higher as compared to the long term
average. However, the water reservoir levels in both North and South India are
far lesser as compared to their 10-year average. The Total Investment & Insurance Solutions
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