Late monsoon won’t hit economy much: Montek

Delayed monsoon rains may not have much impact on the Indian economy,a senior government official said on Tuesday.

“It is possible the monsoon is delayed by a couple of weeks,but it’s not going to impact the economy much,” Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters when asked about the impact of delayed rains on the economy.

The monsoon,crucial to a farm sector has stalled after an early start. In the week ended June 17,rains were 51 per cent below normal,the Meteorological Department said last week.