This NCAER study examines the economic benefits of investments made by the Ministry of Earth Sciences in the National Monsoon Mission (NMM) and High Performance Computing (HPC) facilities and their role in improving the accuracy of monsoonal rainfall predictions. The study finds that improvements in weather forecasts, disseminated by India Meteorological Department, have resulted in massive economic gain to households in rain-fed areas by allowing them to take appropriate action based on accurate weather advisories and avoiding losses that they would have suffered in the absence of timely weather warnings. The study covered farming, livestock rearing, and fishing households.