This year the onset of the monsoon was about a week late but the geographical coverage has spread across the entire country about 2 days ahead of the long term “normal”.
At the end of June, cumulative rainfall was running about 15% short of the long term “normal”, but has now just moved into excess (+4%).
The probability (and hope) of a “good” monsoon in 2016 (about +10-15% cumulative rainfall) is quite high. Which will no doubt cheer the government and the markets.
Figures below are from IMD for 13th July 2016.