Mumbai: The market has got two good news updates. First, there was some relief from global issues. Second, the IMD (India Meteorological Department) said that the monsoon this year will be better than normal. This is a big reason for the market to feel positive. A good monsoon can help the Indian economy grow faster.
Why Monsoon Is Important This Year
There are many problems in the world like trade tensions and wars. But India’s economy is strong within the country. A good monsoon gives more power to the economy. Former President Pranab Mukherjee once said, “Monsoon is like India’s finance minister.” That’s because it affects how much the government earns and spends.
Even now, many farms in India depend on rainwater. Around 70% of the rain comes during monsoon. This water is very important for crops to grow.
Rain Brings Growth and Controls Prices
When the monsoon is good, farmers get better crops. This means they earn more. When farmers earn more, they buy more things. This helps increase the demand for products like food, clothes, and vehicles. Also, when crops grow well, the prices of food go down. This helps in keeping inflation under control.
How Other Sectors Benefit Too
Monsoon water fills rivers, ponds, and underground water. It gives us water to drink and helps in producing electricity. Rural areas grow with better water supply. Banks also benefit because farmers pay their loans on time. Fewer bad loans mean banks are healthier. People also take new loans to buy homes, tractors, two-wheelers, and other items.
A Bright Outlook for the Economy
A strong monsoon supports the economy in many ways. It helps farmers, brings more income to villages, and supports industries like banking, auto, and FMCG. It also keeps food prices in control. This is why a good monsoon is great news for the country.
