India's annual electricity demand grows at slowest pace in 6 years

News Network
January 14, 2020

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.

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News Network
June 20,2020

New Delhi, Jun 20: The government-imposed upper and lower limits on airfares may be extended beyond August 24 depending upon how the situation turns out, Aviation Secretary P S Kharola said on Saturday.

The government resumed domestic passenger flights from May 25 after nearly two months of suspension to combat the coronavirus outbreak, but placed lower and upper limits on airfares depending upon the flight duration.

It had said on May 21 that these limits would be in place for a period of three months.

"Depending on how the situation turns out, the fare band may have to adjusted beyond that (August 24) also. But right now, it is only for three months," Kharola said at a press conference here.

International passenger flights continue to remain suspended in the country.

However, the government started Vande Bharat Mission on May 6 to help stranded people reach their destinations through special flights.

Aviation Minister Hardeep Singh Puri said at the conference that during phase 3 and phase 4 of the mission, private domestic airlines have been approved to operate 750 international flights to repatriate people stranded amid the coronavirus pandemic.

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News Network
February 9,2020

Srinagar, Feb 9: Authorities on Sunday snapped mobile internet services in Kashmir as a precautionary measure to prevent any law and order disturbance on the seventh death anniversary of Parliament attack convict Mohammad Afzal Guru, officials said.

The mobile internet services were suspended early in the morning as the authorities apprehended violence in the valley in view of the bandh call given by separatist outfits, the officials said.

The authorities had restored 2G internet services in Kashmir on January 25, more than five months after snapping all communication facilities in the valley following abrogation of Article 370 on August 5 last year.

Police on Saturday lodged an FIR against the banned Jammu Kashmir Liberation Front (JKLF) for calling a strike on Afzal Guru's death anniversary.

Guru was hanged in 2013 inside Tihar jail for his role in the Parliament attack in December 2001.

Two journalists were summoned by police for reporting the JKLF press release, which had called for strike on Sunday and Tuesday -- the death anniversary of the outfit founder Mohammad Maqbool Bhat.

They were let off after five hours of questioning. Bhat was hanged in 1984 and is buried inside Tihar jail.

Meanwhile, normal life in Kashmir was affected due to the strike, the officials said.

Markets and business establishments remained closed, while public transport was largely off the roads, they said.

There have been no reports of any untoward incident from anywhere in the valley so far, the officials added.

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News Network
February 2,2020

Beijing, Feb 2: India on Sunday temporarily suspended e-visa facility for Chinese travellers and foreigners residing in China in view of the virulent coronavirus that has killed more than 300 people, infected 14,562 others and spread to 25 countries, including India, the US and the UK.

“Due to certain current developments, travel to India on e-visas stands temporarily suspended with immediate effect," the Indian Embassy announced.

“This applies to holders of Chinese passports and applicants of other nationalities residing in the People's Republic of China. Holders of already issued e-visas may note that these are no longer valid," the announcement said.

“All those who have a compelling reason to visit India may contact the Embassy of India in Beijing or the Indian consulates in Shanghai or Guangzhou, as well as the Indian Visa Application Centres in these cities," it said.

On Sunday, India airlifted a second batch of 323 stranded Indians and seven Maldivian citizens from coronavirus-hit Wuhan city, taking the total number of people evacuated to 654.

Air India's jumbo B747 made two flights to Wuhan city - the ground zero of the coronavirus epidemic. In the first flight on early Saturday, 324 Indians were evacuated and on Sunday another 323 Indians and seven Maldivian citizens were flown back.

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dinah
 - 
Friday, 14 Feb 2020

It's not surprising for countries to restrict. it just feels wrong to treat them that way specially those who are not really infected. It could really hurt their feelings.

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