Mumbai, Sept. 30 -- Asian Development Bank of ADB has stated in a latest update that favorable weather will likely boost growth in agriculture this fiscal year and next in India. With monsoon rainfall higher by 8% over the long-term average as on early September, the kharif (summer) season has an expanded sown area, above the average area in the past 5 years. Despite the delay in retreat of the monsoon leading to recent floods, the larger sown area will boost crop output, particularly for rice and pulses, likely above long-term average growth rates. The contribution of agriculture to GDP growth in FY2025 will thus be in line with April expectations.
Published by HT Digital Content Services with permission from Capital Market....