New Delhi, Sept. 12 -- When it rains, it pours - and this year's monsoon in India is proving exactly that. Northwest India has seen excessive rainfall, causing severe floods in Punjab, Haryana, and Himachal Pradesh. This raises concerns about the damage to standing kharif crops, which could weigh on kharif output, food inflation, and rural incomes.

Central and southern states have also recorded surplus rainfall, while eastern and northeastern states face rainfall deficits - a potential threat to paddy, pulses, and jute cultivation.

"Cumulatively, the all-India average rainfall surplus is 8.7% above the long period average (LPA) on 7 September (up from 6.7% as of 1 September). The rains deluge is concentrated in the northwest region, whe...