106th Day Of Lockdown

Maharashtra2237241231929448 Tamil Nadu118594711161636 Delhi102831742173165 Gujarat37636267441978 Uttar Pradesh2996819627313 Telangana2761216287313 Karnataka2681511100417 West Bengal2383715790804 Rajasthan2140416575472 Andhra Pradesh211979745252 Haryana1799913645279 Madhya Pradesh1562711768622 Bihar12525933898 Assam12523833016 Odisha10097670354 Jammu and Kashmir89315399143 Punjab67494554175 Kerala5895345228 Chhatisgarh3415272814 Uttarakhand3230262143 Jharkhand3018210422 Goa190311568 Tripura171612481 Manipur14307710 Himachal Pradesh107876410 Puducherry104351714 Nagaland6443030 Chandigarh4924017 Arunachal Pradesh270922 Mizoram1971390 Sikkim125650 Meghalaya94432
Business Other News 12 Apr 2019 Weak power demand si ...

Weak power demand signals slowdown ahead

DECCAN CHRONICLE. | RAJESH KUMAR SINGH AND VRISHTI BENIWAL
Published Apr 12, 2019, 1:06 am IST
Updated Apr 12, 2019, 1:06 am IST
Economic growth slowed to 6.6 per cent in the three months to December, the weakest pace in six quarters.
The IMF on Tuesday cut the nation's growth outlook for this year to 7.3 per cent from 7.5 per cent seen in January.
 The IMF on Tuesday cut the nation's growth outlook for this year to 7.3 per cent from 7.5 per cent seen in January.

New Delhi: India is witnessing a listless growth in electricity demand, possibly signaling more slowdown in the economy.

Electricity requirement from distribution utilities in February rose 1.3 per cent from a year earlier and barely changed from January's 1.1 per cent, the weakest growth in two years, according to the Central Electricity Authority. Data for power generation, a proxy for demand, showed the weakness continued into March.

 

The trend points to a lack of appetite among factories and commercial firms —which consume about half the country's electricity—ahead of government data on industrial production for February that's due on Friday. Uncertainty about the outcome of a national election beginning Thursday, weak domestic demand and a global slowdown have clouded India's economy.

Economic growth slowed to 6.6 per cent in the three months to December, the weakest pace in six quarters. The IMF on Tuesday cut the nation's growth outlook for this year to 7.3 per cent from 7.5 per cent seen in January.

"The industry is not growing at a fast pace," said Devendra Kumar Pant, Chief Economist, at India Ratings and Resear-ch, the local unit of Fitch Group. "All leading indicators suggest sluggishness in industrial activities will continue for some time."

Core infrastructure sector, which constitutes 40 per cent of total industrial production, grew 2.1 per cent in February, marginally improving from January's 19-month low of 1.8 per cent when electricity generation and production of refinery products contracted.

While factory output data for March, which is published with a one-month lag, is due in May, early indicators point to a steepening slowdown. Passenger vehicle sales have contracted for five straight months to March, while exports has been sluggish.    

— Bloomberg

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT