BackIndia's power consumption grows by 11% to 121.19 billion units in Dec
As many parts of northern India are in a grip of chilling cold, the use of heating appliances is expected to increase and the growth figures are also indicating a rising trajectory of power consumption
PremiumAmid the global slowdown due to the pandemic and the Russia-Ukraine war, the Indian economy has shown continued resilience and the recent data on India's power consumption is clearly indicating that. According to the data from the government, India's power consumption has seen a growth of 11% and reached 121.19 billion units in December 2022 compared to 2021.
The amount of growth in power consumption point towards a constant momentum of India's growing economic activity in December.
As many parts of northern India are in a grip of chilling cold, the use of heating appliances is expected to increase and the growth figures are also indicating a rising trajectory of power consumption. The experts cite the above factors and believe that the consumption of power is going to increase.
The figures of some previous years indicate a substantial rise in power demand as in December 2021, the power consumption of the country stood at 109.17 billion units (BU) which were higher than the 105.62 BU in the same month of 2020.
The highest supply of power in a day was 205.03 gigawatts (GW) in December 2022 while the figures for previous years were 183.24 GW in December 2021 and 182.78 GW in December 2020.
The economy of the country is doing fine when looked at from a global perspective, but a fresh wave of the Covid-19 virus and the stretching Russia-Ukraine war can cause some serious spillover effects in the country.
Reserve Bank of India (RBI) on 29 December released the 26th issue of the Financial Stability Report (FSR) and said that with the global economy facing formidable headwinds with recessionary risks looming large, India is confronted with strong global headwinds.
The RBI's FSR reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability and the resilience of the financial system.
(With inputs from PTI)
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
