The year 2009 could well bring a big body blow to the second most populated country in the world, India. India was hit last year badly due to crashing exports and increasing unemployment. India depends on over 50% of its GDP on Agriculture, which in turn depends mostly on the seasonal monsoon.
As of last week end, over 40% of the Indian states have not received normal rainfall, and all these areas have been declared drought hit. This in turn is expected to bring at least 20% decline in the farm output, and affect over 40% of the population. That does not augur well for the country’s progress this year. The rainfall shortage is 24% as per government data released few days back.