The Indian Meteorological Department predicts above-average monsoon rainfall in 2024, estimated at 106% of the long-term average. The weakening El Nino is expected to transition to a neutral phase by the onset of the monsoon, while La Nina conditions may develop later. Private agency Skymet also forecasts a 'normal' monsoon. Monsoon forecasts play a crucial role in influencing inflation rates, with normal rainfall favoring controlled inflation.
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