India forecasts below-average August monsoon rainfall
MUMBAI, July 31 (Reuters) – India is likely to receive below-average monsoon rainfall in August after recording average rainfall in July, the weather department said on Friday, raising concerns about crop yields and economic growth in Asia’s third-largest economy. The monsoon delivers about 70% of annual rains to replenish crucial water sources in the nearly $4-trillion economy, where almost half of farmland lacks irrigation and about half the population earns its livelihood from farming. Rainfall in August is likely to be below 94% of the long-period average, Mrutyunjay Mohapatra, director-general of the India Meteorological Department, told a press conference. Cumulative