55% of Farmers Express Concerns About Deficient Monsoon, Reveals Axis My India Survey
The onset of the monsoon season in India brings relief from the scorching summer heat and plays a vital role in the country’s $3 trillion economy by supplying water to farms and replenishing reservoirs and aquifers. However, a recent survey conducted by consumer data intelligence company Axis My India reveals that more than half of the country’s farmers are highly worried about the impact of a deficient monsoon on their crops.
According to the findings of the India Consumer Sentiment Index (CSI), 55% of farmers expressed concerns about the repercussions of a deficient monsoon on their farming activities. Among the respondents, 24% were mildly concerned, while only 9% were optimistic about a good monsoon, and 13% expected a normal monsoon.
The India Meteorological Department (IMD) reported that although the monsoon arrived in the entire country six days earlier than usual, the rainfall in June was 10% below average. Some states even experienced rainfall levels that were less than 60% of the normal average.
The monsoon season is crucial for agriculture in India, as it provides much-needed water for irrigation and sustains the agricultural sector, which is a vital component of the country’s economy. Typically, the monsoon arrives in Kerala around June 1 and progresses towards the rest of the country by July 8. However, this year, the monsoon reached the southern state on June 8 and faced delays due to Cyclone Biparjoy. Despite these challenges, it made steady progress to cover the rest of the country.
Despite the potential impact of the El Nino effect, the IMD predicts that India is likely to experience average monsoon conditions in July. This news provides some hope for farmers who depend on adequate rainfall for successful crop cultivation.
The Axis My India CSI survey involved 5,072 participants from 35 states and union territories across India. The findings not only shed light on the concerns of farmers but also provide insights into various aspects affecting the nation’s economy and consumer sentiment.
Pradeep Gupta, Chairman & MD of Axis My India, highlighted the need for concerted efforts to address agricultural challenges and safeguard the livelihoods of farmers. He emphasized that inclusive growth is crucial for India’s economic progress, particularly in light of the concerns expressed by farmers about the impact of the monsoon.
The survey also revealed other trends, such as an increase in household incomes for 56% of families, with a slightly higher increase observed in rural households (57%). Spending on personal care and household items increased for 31% of families, while non-essential and discretionary expenses rose for only 5% of families. Health-related spending increased for 30% of families, and media consumption saw a rise among 18% of families. Additionally, 8% of families reported increased mobility, with the highest mobility observed among individuals aged 18-25.
As the monsoon season progresses, farmers across India will closely monitor the rainfall patterns and hope for adequate precipitation to support their agricultural activities. The government and relevant stakeholders must continue to focus on supporting the farming community and implementing measures to mitigate the impact of a deficient monsoon, ensuring food security and sustainable agricultural practices in the country.
