This year's monsoon rains are expected to be normal, the finance ministry's Chief Economic Adviser Arvind Subramanian said on Thursday.
The tendency in monsoon shortfall years has been an impact on food prices, thus fuelling inflation.
Subramanian also told reporters here that the current unseasonal rains that have resulted in damage to crops will be a "temporary blip" on the food price situation, and inflation is not expected to climb in the medium-term.
According to him, the inflation target of 5 percent to 5.5 percent for the current fiscal will be met.
The recent unseasonal rains have damaged crops over 10 million hectares of land.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
