The ramifications of a sub-par and uneven monsoon season in India are expected to extend beyond its conclusion, impacting growth and inflation in the second half of the fiscal year 2024. With cumulative monsoon rainfall at 94% of the long period average, the first sub-normal monsoon since 2019, concerns arise over the temporal and spatial distribution disparities. Deficient rainfall in key regions, delayed sowing of pulses, oilseeds, and cotton, coupled with fears of an impact on yields, contribute to inflationary pressures. ICRA projects a dip in agriculture GVA growth and cautious rural sentiment in H2 FY2024, signaling potential challenges for the economy.