Revived monsoon can't help growth rate

Finance Minister Pranab Mukherjee said on Monday that he is "doubtful" that India will be able to maintain the 6.1% growth of the first quarter of 2009.

For the last 10 days, the rain deficiency has fallen from 26 per cent to 21 per cent. But the rest of the year will still see a reduction in farm output, and that's what's going to hit the growth rate.

Farmers, however, welcome the prediction of more rain. "In the coming week, we are again expecting a good spell over Central, East and North West India, so the deficiency will further come down a bit from 21 per cent," says BP Yadav, Director, Indian Met Department.

After heavy rain in the last few weeks, the Gujarat government has declared that its drought has ended. For Jethabhai Chavda, a farmer in Gujarat, that means his paddy crop will survive. Jethabhai beams, ''The rains have made a huge difference. The crop won't die this time."

The shortfall of rain so far has already reduced the summer harvest by a fifth, leading to soaring prices.