India depends on the southwest monsoon for 75 per cent of its annual rainfall of 1,183 mm. Rainfall is erratic in four years every decade and 68 per cent of the sown area is vulnerable to drought.
The Indian economy is increasingly getting better prepared to withstand monsoon failure as agriculture’s share in the economy is shrinking, granaries are overflowing, share of winter sown crops has increased and steps to counter a drought have improved.
However, with 70 per cent of the population depending on farms directly or indirectly for a living, and fears of rising food prices, the monsoon is keenly watched by policymakers and businessmen.