Economy Current Affairs - 2019
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According to the data released by the Central electricity Authority (CEA), the electricity demand of the country fell by 13% in October 2019 as compared to October 2018. This is the lowest in 12 years.
- Sharp reduction in the industrialized states like Maharashtra and Gujarat indicating an economic slowdown is the major reason for the decline in demand.
- Electricity demand of the country was 98 billion units in October 2019 as against 112 billion units in October 2018.
- Power demand in Madhya Pradesh declined by 26%, Karnataka declined by 25%, Maharashtra declined by 22%, Gujarat by 19%, Telangana by 16% and Andhra Pradesh by 16%.
- The slowdown is deep rooted in industrial sectors.
- The Infrastructure sector output contracted to the lowest in 14 years.
- The Automobile sector in the country recently cut hundreds of thousands of jobs due to unprecedented decline in sales
Tags: Central Electricity Authority (CEA) • Economic Growth • Economic Slowdown • Economy • Electricity Supply
According to National Council of Applied Economic Research, the Business Confidence of India dipped to lowest in six years. It fell by 15% between the period July and October 2019
- The Business Confidence Index dipped to 103.1 from 100.4 in October 2013. This is the lowest in the period of 6 years
- The survey reported that positive growth was witnessed in Managing Inflation, Managing Exchange Rate, Overall Economic Growth, pushing economic reforms, managing conducive political climate, managing government finance, external trade negotiations and managing unemployment
- The Business Confidence Index witnesses an upswing in the firms with annual turn over less than 1 crore rupees and other micro firms.
- The Political Confidence Index fell by 35.6% between July and October 2019.
- The Economic Growth rate declined by 5% in October 2019 as compared to July 2019.
The National Council of Applied Economic Research is a Delhi based think tank that was established in 1956. The aim of the body is to give support to both government and private sector economic researches. The TATA Foundation and other premier organizations came together to form the think tank with the support of GoI. It was founded in PM Nehru’s period. Since 1991, the council is tracking the business confidence in the country on a quarterly basis.