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Why is Indian economy called the gamble of monsoon? |
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Answer» Indian economy is agriculture based economy. In India, almost 2/3 part of total agricultural land depends on monsoon for crop production. The chief characteristic of Indian monsoon is its irregularity and uncertainty. The rain, which is caused by south – west monsoon, is less and uncertain in some parts of the country. While in some areas, it is non – stop, more than average and it creates floods while other regions experience drought. These situations change each year. This affects the Indian economy. Favorable monsoon status gives positive results, while unfavorable status gives negative result. Thus, ups and downs in economy are seen. So, Indian economy is called the gamble of monsoon. |
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