Skymet raises drought risk to 70%, forecasts GDP impact
pre-market1 source ↓written by the desknot a recommendation
- for India
- 70%
- India's GDP
- 1%
- of the monthly
- 85%
Skymet Weather Services has increased the drought probability for India to 70%, citing a persistent rainfall deficit due to a strong El Niño. Historically, drought years have reduced India's GDP by 1%, affecting sectors like agriculture, power, and the rural economy. With August and September rainfall expected at 85% of the monthly average, the economic implications could be significant for traders.
Not investment advice. For informational purposes only.