Favorable monsoon, record crop sowing positive signs for Indian agri sector: CARE Ratings

High reservoir levels, favourable monsoon, and record kharif crop sowing are positive for the Indian agriculture sector, credit ratings agency CARE Ratings said.

The report said these factors would boost rural incomes that could consequently push up rural demand at the beginning of the festive quarter. Large companies are also pinning hopes on rural growth backed by higher farm incomes, and government stimulus packages.

The South Asian nation has so far witnessed favourable rains, with the south-west monsoon at a 6-year high.