Overview

• The southwest monsoon hit Kerala on May 24 and Mumbai on May 26, marking the earliest onset since 2009
• IMD raised its forecast to 106% of the long-period average after initially projecting 105% of average rainfall
• RBI’s annual report projects headline inflation to moderate to about 4% next year on the back of lower food costs and replenished reservoirs
• Government has set a 168.88 million tonne Kharif crop target for 2025-26 and increased minimum support prices for key crops by up to 13.9%
• Uneven or excessive rainfall remains a risk to sowing and yields, prompting initiatives like the National Mission on Natural Farming to bolster climate resilience