The monsoon’s turnaround after the driest August since 1901 has soothed food inflationary fears, though the risks from El Niño still remain. Also, supply worries over some key commodities persist.
India’s 150 large reservoirs are a crucial source of water for the rest of the year, for not just households and industry, but also power generation. Storage levels are about 10% below the last 10 years’ average for this time of the year
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