Amazon India to hire 50K temporary workers as lockdown boosts demand

Chennai/New Delhi, Jan 14: India's annual electricity demand in 2019 grew at its slowest pace in six years with December marking a fifth straight month of decline, government data showed, amid a broader economic slowdown that led to a drop in sales of everything from cars to cookies and also to factories cutting jobs.

Electricity demand is seen as an important indicator of industrial output in the country and a sustained decline could mean a further slowdown in the economy.

India's power demand grew at 1.1% in 2019, data from the Central Electricity Authority showed, the slowest pace of growth since a 1% uptick seen in 2013. The power demand growth slowdown in 2013 was preceded by three strong years of consumption growth of 8% or more.

In December, the country's power demand fell 0.5% from the year-earlier period, representing the fifth straight month of decline, compared with a 4.3% fall in November.

But in India's western states of Maharashtra and Gujarat, two of India's most industrialised provinces, monthly demand increased.

In October, power demand had fallen 13.2% from a year earlier, its steepest monthly decline in more than 12 years, as a slowdown in Asia's third-largest economy deepened.

Industry accounts for more than two-fifths of India's annual electricity consumption, while homes account for nearly a fourth and agriculture more than a sixth.

The slower demand growth is a blow for many debt-laden power producers, who are facing financial stress and are owed over $11 billion by state-run distribution companies.

India's overall economic growth slowed to 4.5% in the July-September quarter, government data released in November showed, the weakest pace since 2013 as consumer demand and private investment fell.

The government has estimated growth in the current financial year that runs through to March will be the slowest since the 2008 global crisis.

"This reflects overall economic slowdown, because if you look at other high frequency data like diesel consumption, everywhere you are seeing contraction," Rupa Rege Nitsure, chief economist at L&T Financial Holdings.

But India's central bank will not have much scope to cut rates to stimulate the economy because inflation has been rising sharply and reached 7.35% in December compared with 1.97% in January last year.

Economists say India's growth will continue to hover around 4.5% levels in the Oct-Dec quarter.

"In the Oct-Dec quarter as well growth (GDP) will be around the same level as July-September. My estimate for the full year is around 4.7% growth," Nitsure said.

New Delhi, Jul 16: With the highest single-day spike of 32,695 cases and 606 deaths reported in the last 24 hours, India's COVID-19 tally on Thursday reached 9,68,876, informed the Union Ministry of Health and Family Welfare on Thursday.

The total number of COVID-19 cases includes 3,31,146 active cases, 6,12,815 cured/discharged/migrated and 24,915 deaths.

As per the Ministry, Maharashtra -- the worst-affected state from the infection -- has a total of 2,75,640 COVID-19 cases and 10,928 fatalities. While Tamil Nadu has a tally of 1,51,820 cases and 2,167 deaths due to COVID-19.

Delhi has reported a total of 1,16,993 cases and 3,487 deaths due to COVID-19.

Meanwhile, as per the information provided by the Indian Council of Medical Research (ICMR), 1,27,39,490 samples have been tested for COVID-19 till 15th July, of these 3,26,826 samples were tested yesterday.

New delhi, Feb 10: The Supreme Court on Monday upheld the constitutional validity of the SC/ST Amendment Act, 2018, and said a court can grant anticipatory bail only in cases where a prima facie case is not made out.

A bench headed by Justice Arun Mishra said a preliminary inquiry is not essential before lodging an FIR under the act and the approval of senior police officials is not needed.

Justice Ravindra Bhat, the other member of the bench, said in a concurring verdict that every citizen needs to treat fellow citizens equally and foster the concept of fraternity.

Justice Bhat said a court can quash the FIR if a prima facie case is not made out under the SC/ST Act and the liberal use of anticipatory bail will defeat the intention of Parliament.

The top court's verdict came on a batch of PILs challenging the validity of the SC/ST Amendment Act of 2018, which was brought to nullify the effect of the apex court's 2018 ruling, which had diluted the provisions of the stringent Act.