New Delhi, Aug. 26 -- India's current monsoon rainfall deficit may have a more limited impact on kharif output than feared earlier as the sowing season is largely behind, although strengthening El Nino conditions continue to pose a risk to rainfall, according to an ICICI Bank report.

"With sowing season mostly behind, current rainfall deficit may not have as large an impact on kharif output as envisaged earlier because of pick-up in rainfall in July," the report said.

Cumulative rainfall up to August 24 stood at 564 mm, 13 per cent below the long-period average (LPA), while rainfall during August 1-24 was 15 per cent below LPA. The deficit remains uneven across regions, with East India recording a 27 per cent shortfall and South India 2...