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New Delhi, Refuelling of <keyword id="1193791" type="PERSON" weightage="20" keywordseo="consumption-demand">consumption demand</keyword> must be the theme of <keyword id="10462039" type="COMPANY" weightage="20" keywordseo="the-union-budget-fy">the Union Budget FY</keyword> 2021-22 to have a <keyword id="1488486" type="PERSON" weightage="20" keywordseo="multiplier-effect">multiplier effect</keyword> on production possibilities, capex expansion, private investments and employment creation, said the industry body PHDCCI in its 10 <keyword id="9997089" type="UNKNOWN" weightage="20" keywordseo="pronged-strategy">pronged strategy</keyword> suggested to Finance Minister Nirmala Sitharaman on Saturday during the <keyword id="878868" type="COMPANY" weightage="20" keywordseo="pre-budget">Pre-Budget</keyword> consultations. The industry body's 10 pronged strategy revolves around the measures aimed at refuelling consumption and demand, and encouraging the private investments. The elements of the strategy presented to the FM includes front loading of <keyword id="691784" type="PERSON" weightage="20" keywordseo="infrastructure-investments">infrastructure investments</keyword>, establishing DFIs to fund industrial and infrastructural investments, strengthening MSMEs, reducing the costs of doing business, ease of doing exports, increasing Tax to GDP ratio. PHDCCI said any measure aimed at pushing up growth must keep agriculture and rural sector at the forefront and carry out effective reforms in social infrastructure. Economy has exhibited early signs of recovery in the recent months, however, to sustain the momentum, there is a need to ensure a great support to demand creation in the economy with lower interest rates for consumers and businesses, lesser compliances for MSMEs vis-a-vis ease of doing business at the ground level and a lower tax regime to increase the personal disposable income of the people, said Sanjay Aggarwal in a press statement. To rejuvenate the aggregate demand in the economy, infrastructure investments will give a multiplier effect. The robust growth of infrastructure is the key ingredient to realize the vision to become Atmanirbhar Bharat, said Aggarwal. The government should consider raising investment funding for the National Infrastructure Pipeline (NIP) through borrowings from overseas markets by issuance of overseas bonds through an SPV that could act as a mega Development Financial Institution- DFI, he said. The DFI could initially finance public sector infrastructure investments, and, as the economy picks up steam, could also finance the private sector infrastructure projects. In the past, governments around the world have often used DFIs to fund industrial and infrastructure investments. Financial as well as technical support extended by DFIs would help in efficient and timely infrastructural development in the country, said Aggarwal Overseas borrowing will allow the government to bring in diversification in its borrowings along with significantly reduced dependence on the domestic market, thereby leaving room for private sector to raise capital for investments, he said Analysing the Debt to GDP ratio of G20 economies, India is at a significantly better position in the G 20 economies. India stands at 14th rank with total debt to GDP ratio at 127.6% comprising of 55.3% as private debt and 72.3% as public debt. Also, we have sufficient FOREX reserves of $575 billion as on 27th November 2020, said Aggarwal. SEE ALSO: <a href="https://www.businessinsider.in/business/news/ikea-india-cfo-says-she-still-has-3500-crore-to-be-spent-in-india-the-pandemic-has-changed-targets-but-not-the-investment-plan/articleshow/79790938.cms">INTERVIEW: Ikea CFO says she still has ₹3,500 crore to be spent in India⁠— the pandemic has changed targets but not the investment plan</a> <a href="https://www.businessinsider.in/science/health/news/india-will-produce-300-million-doses-of-the-russian-sputnik-v-covid-19-vaccine-next-year/articleshow/79795341.cms">India will produce 300 million doses of the Russian Sputnik V COVID-19 vaccine next year</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-mrs-bectors-food-specialities-ipo-allotment-status-online/articleshow/79808672.cms">Mrs Bectors Food Specialities IPO allotment: Here’s how to check share allotment status</a>

PHDCCI suggests ten pronged strategy to attain higher growth in FY22

New Delhi, Apr 9 () India's fuel consumption in March shrank by 18 per cent, the biggest decline in more than a decade, as a nationwide lockdown halted economic activity and travel. India's petroleum product consumption fell 17.79 per cent to 16.08 million tonnes in March as diesel, petrol and aviation turbine fuel (ATF) demand fell, according to official data released on Thursday. Diesel, the most consumed fuel in the country, saw demand contract by 24.23 per cent to 5.65 million tonnes. This is the biggest fall in diesel consumption the country has recorded as most trucks went off-road and railways stopped plying trains. Petrol sales dropped 16.37 per cent to 2.15 million tonnes as the 21-day nationwide lockdown enforced to prevent the spread of COVID-19 took most cars and two-wheelers off the road. ANZ HRS

India's fuel consumption falls 18 pc as coronavirus eviscerates energy demand

Mumbai, May 18 () India Ratings and Research (Ind-Ra) expects small private dairies, who are mostly dependent on milk-based sweet making shops and local supplies in towns, to be impacted following the disruptions in economic activities caused due to the COVID-19 pandemic. Notwithstanding the disruption in economic activity due to COVID-19 pandemic and closure of non-essential commercial establishments like hotels, restaurants, bakery and sweet shops, theatres and malls, Ind-Ra expects the consumption demand for liquid and pouch milk, ultra-high temperature milk and dairy products like butter, clarified butter and cheese to draw sustained support from the household demand.Milk procurement from small farmers who are outside the coverage of organised cooperative and corporate sector dairy networks could be impacted due to the lockdown, it added.However, the cooperatives as well as the established private dairies continue to procure milk from their network farmers, with the surplus being converted into skimmed milk powder, ghee and other processed products, to be sold during the lean season, it said.Ind-Ra expects households to drive the consumption of milk and milk products in FY21. Milk procurement by dairy cooperatives increased to 56 million litres per day (MLPD) during the first phase of the lockdown from 51 MLPD in March 2019, according to data by the Ministry of Fisheries, Animal Husbandry and Dairying.The agency estimates manufactured dairy products output to grow annually by 10 per cent to Rs 2,83,336 crore in FY21 from an estimated Rs 2,56,589 crore in FY20, underpinned by domestic demand. The household consumption demand for milk and milk products occupies the highest share in the private final consumption expenditure on food after 'breads, cereals and pulses, it said adding that the share of milk and milk products averaged 21 per cent in household expenditure on food during FY12-FY18.The value added dairy products (VAP) segment holds promise over the medium-term, Ind-Ra estimated, as urbanisation, increase in disposable income and accompanying changes in lifestyle and dietary habits increase demand for milk and milk products.To meet the needs of a growing and rapidly urbanising Indian population, a commensurate increase in milk production is required to keep pace with demand, the report said. Ind-Ra has projected milk production to increase to 208 million tonnes in FY21 from 198 million tonne in FY20.The government has a milk production target of 300 million tonnes by FY24, so as to meet the growing demand for dairy products and make dairying a sustainable source of livelihood for small and marginal farmers and landless labourers that constitute the bulk of milk producers in India. The increase in productivity depends on the availability of feed and fodder, disease control and breed development programmes. Productivity improvement initiatives would have to be aggressively pursued to achieve the high production target, Ind-Ra added. SM MKJ

COVID-19 crisis to impact small private dairies: IND-RA

New Delhi, Mar 19 () India's fuel demand has dropped by a steep 10-11 per cent in the first two weeks of March as the outbreak of coronavirus (Covid-19) led to the cancellation of flights and reduction in industrial activity. The country had consumed 19.5 million tonnes of petroleum products in March 2019, official data showed. Assuming consumption in two halves of the month was almost the same, as much as 10 million tonnes of fuel was consumed during the first fortnight of March 2019. "The petroleum industry is witnessing the impact of coronavirus on sales of all petroleum products. The overall demand for liquid fuels has gone down by 10-11 per cent in the first fortnight of March 2020," said Indian Oil Corp (IOC), the country's largest fuel retailer, in a statement. Restrictions and travel advisories, as well as a slowdown in industrial activity, has led to the fall in demand. While diesel sales as dropped by over 13 per cent, jet fuel sales has slumped by over 10 per cent. Petrol sales have seen a decline of over 2 per cent. "Due to restriction in movement and travel advisories, the aviation turbine fuel (ATF) sales have dropped by over 10 per cent. The bunker fuel sales are also down by approximately 10 per cent," IOC said. Crisil said the Covid-19 pandemic has made the already subdued demand outlook ever grimmer. "The airlines industry accounts for 6-8 per cent of total crude consumption. As more countries are implementing bans over Covid-19 in both international and domestic travel, the impact is likely to worsen. And if the pandemic is not contained over the next two-three months, the consequences will be severe," it said in a note. Covid-19, it said, is further drying up demand from the road transport and airlines segments in India as well. "Hence, consumption growth of petroleum products is expected to be low at 2-3 per cent in fiscal 2021," it said. Separately, Morgan Stanley cuts India's fuel demand estimate for the next financial year by five per cent. Prior to the outbreak of coronavirus, Oil Ministry's Petroleum Planning and Analysis Cell (PPAC) had projected fuel demand to grow to 222.79 million tonnes in the fiscal year starting April (2020-21) from an estimated 216 million tonnes in 2019-20. ATF consumption was projected to rise to 8.7 from an estimated 8.19 million tonnes in 2019-20 while diesel demand was to grow to 86.5 million tonnes from 84.26 million tonnes. Petrol consumption was projected to rise to 33.4 million tonnes from almost 31 million tonnes in the current fiscal. In the first 11 months of 2019-20, fuel demand was 197.6 million tonnes. ATF consumption came at 7.5 million tonnes in April 2019 to February 2020 while diesel demand was 77 million tonnes. Petrol consumption came at 27.8 million tones in April-February. ANZ ANSANS

India's fuel demand drops 11 pc in March as Covid-19 hits aviation, transport sectors

New Delhi, Jul 1 () India's fuel sales in June reached 88 per cent of the pre-COVID-19 levels as easing of lockdown restrictions is reviving economic activities, the government said on Wednesday. "The sales of petroleum products in India, the world's third-biggest oil consuming nation, had in April fallen to the lowest since 2007, due to the nationwide lockdown, necessitated to prevent the spread of COVID-19 pandemic," an official statement said. Demand, however, began to revive in May and in June reached 88 per cent of pre-COVID levels, it said. "India's overall petroleum products consumption, which had nosedived in last week of March and April this year, is now steadily getting to its pre-lockdown levels in June, as emanating from the PSUs' (IOC, BPCL, and HPCL) sales figures," it said. At 11.8 million tonnes of consumption, fuel demand in June was 88 per cent of 13.4 million tonnes consumption in June 2019. Petrol consumption of 2 million tonnes in June was 85 per cent of last year's levels, while diesel at 5.5 million tonnes was 82 per cent of normal levels during this month. "With the timely arrival of monsoon and pick-up in agricultural activities during Kharif season, there was marked acceleration in diesel consumption and gained 96 per cent on April volumes of 2.8 million tonnes," the statement said. Demand for LPG fuel continues to rise, with robust growth of 16.6 per cent in June over last year. ATF consumption registered 4-times volume increase from April levels. "Demand of industrial fuels such as sulphur, petcoke, and naphtha reached to levels of 89.3 per cent, 118 per cent and 120.2 per cent respectively, while marine fuels reached to a level of 138.5 per cent vis-a-vis corresponding period last year," it said. Similarly, with the restart of major road construction projects, bitumen consumption has registered a solid growth of 32 per cent in June. The crude oil throughput of state-owned refineries has already crossed 85 per cent as on date, from as low as of 55 per cent in the beginning of April. "Overall the consumption of all petroleum products has significantly increased from April level of 49 per cent (of normal) to 88 per cent level in June," the statement said. April's fuel consumption was 6.6 million tonnes as compared to 13.4 million tonnes a year back. ANZ ABM

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PHDCCI suggests ten pronged strategy to attain higher growth in FY22

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India's fuel consumption falls 18 pc as coronavirus eviscerates energy demand

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COVID-19 crisis to impact small private dairies: IND-RA

PTI

India's fuel demand drops 11 pc in March as Covid-19 hits aviation, transport sectors

PTI

Fuel demand gradually returning to pre-COVID levels: Govt

PTI

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