Rainfall has been deficient by 8 per cent from the long period average in 2012  BIS central bankers’ speeches  3  monsoon season. The deficiency during June and July 2012 has adversely impacted the Kharif crop. However, good rainfall in August and September have improved the soil moisture content and reservoir levels and raised the prospects for a good Rabi crop.
As we see subsequent rounds of crop estimates, the deficiency of about 10 per cent in case of food grains and oilseeds is likely to be reduced, thus providing a further silver lining. India grew at a rapid pace with an average growth of 8.7 per cent during 2003–04 to 2007–08 essentially because investment boomed, especially in infrastructure such as power, roads and telecom.