How Does Monsoon Affect Our Economy?

by | Last updated on January 24, 2024

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Over half of India’s population works in agriculture, and monsoon rains directly affect their incomes and livelihood . Agriculture adds up to more than 15% of India’s Gross Domestic Product (GDP), which means that when crops fail because of too little rain, the economy suffers.

What is the impact of monsoon on our country?

Monsoons can have both negative and positive effects. Flooding caused by monsoon rains can destroy property and crops (SF Fig. 3.2 C). However, seasonal monsoon rains can also provide freshwater for drinking and crop irrigation.

Why are monsoons important to our country?

The Monsoon rains in India also replenish reservoirs and groundwater that helps in improving irrigation and also boosts hydropower production. Moreover, a good Monsoon season can reduce demand for subsidized diesel used for pumping water from wells, ground, ponds or rivers for irrigation.

How does rainfall affect economy?

Much micro-econometric evidence suggests that precipitation has wide ranging impacts on vital economic indicators such as agricultural yields, human capital, and even conflict. ... The results have significant consequences for measuring the economic impacts of climate change.

What benefits does the monsoon bring?

The monsoons bring much-needed moisture into the desert region of the Southwest . During May and June, the area typically suffers from drought conditions. The seasonal rains make it possible for agriculture, forests and inhabitants of the region to store water for the next dry cycle of the climate.

Why are monsoons important to farmers?

The success of these crops is largely determined by the June-September monsoon, which delivers about 70% of the country’s annual rainfall. ... While crops in the ground have been damaged by the monsoon, the rains have replenished reservoirs and ground water reserves , which augurs well for India’s rural economy in 2020.

Which rainfall is very important for agriculture?

While a regular rain pattern is usually vital to healthy crops , too much or too little rainfall can be harmful, even devastating to crops. Drought can kill crops and increase erosion, while overly wet weather can cause harmful fungus growth. Plants need varying amounts of rainfall to survive.

Does rainfall matter for economic growth?

(2013) find that precipitation affects GDP growth , noting that both dry and wet episodes of rainfall lead to a decline in per capita GDP growth rates. Surprisingly they find no impact on agricultural GDP growth, though it is the sector that is most affected by rainfall.

What is the impact of rainfall?

Heavy rainfall can lead to numerous hazards, for example: flooding , including risk to human life, damage to buildings and infrastructure, and loss of crops and livestock. landslides, which can threaten human life, disrupt transport and communications, and cause damage to buildings and infrastructure.

Does the weather have an effect on economy?

More extreme weather has the potential to weaken economic growth through damage to the capital stock and labor supply, and labor productivity will weaken as the world economy adjusts to higher temperatures. Inflation will rise through the growing cost of food, energy and insurance.

What are the positive and negative effects of monsoon?

Monsoons can have both negative and positive effects. Flooding caused by monsoon rains can destroy property and crops (SF Fig. ... However, seasonal monsoon rains can also provide freshwater for drinking and crop irrigation.

What are the advantages and disadvantages of monsoon season?

The monsoons bring much-needed moisture into the desert region of the Southwest. During May and June, the area typically suffers from drought conditions . The seasonal rains make it possible for agriculture, forests and inhabitants of the region to store water for the next dry cycle of the climate.

How do monsoons affect the farmers?

While too little rainfall during the summer monsoon can cause dire conditions for farmers on land, too much rainfall and overly strong winds can make coastal waters unsafe, preventing fishermen throughout South Asia from heading to sea to catch the fish they depend on for income.

What are monsoons and why are they important?

The monsoons control the weather and can destroy farm land if they come too early or too late and cause starvation. They can also help the people though, with water for their crops, but if too much rainfall comes they can cause flooding.

Are monsoons good for farming?

A predictable monsoon that arrives on time in early June and rains steadily means a good harvest , and a good year economically for both the region and the farmers who depend on their annual crop to survive.

Diane Mitchell
Author
Diane Mitchell
Diane Mitchell is an animal lover and trainer with over 15 years of experience working with a variety of animals, including dogs, cats, birds, and horses. She has worked with leading animal welfare organizations. Diane is passionate about promoting responsible pet ownership and educating pet owners on the best practices for training and caring for their furry friends.