India’ electricity demand to be higher in fourth quarter: India Ratings
NEW DELHI: India’s electricity demand is expected to be higher year-on-year in the fourth quarter of the current fiscal, India Ratings and Research said in a report.
This assumes importance as energy consumption, especially that of electricity and refinery products, is typically linked to overall demand in the economy. This also comes at a time when India’s gross domestic product (GDP) growth is estimate have been revised upwards by ratings agencies.
In its Global Economic Outlook, Fitch revised India’s economic growth estimate to 12.8% for FY22, on the back of a stronger carryover effect, a looser fiscal stance and better virus containment. Also, Moody’s Analytics has said India’s GDP is projected to grow 12% in 2021.
