Indian Economy News & Discussion - Nov 27 2017

[Vayutuvan]

That is expensive. ~USD 7000. Probably makes sense in CA. In India, electricity is very expensive, as I found recently.

Two split a/cs, two < 40" TVs, lights/fans, washing machine, medium sized fridge just for two retired people - monthty bill upwards of INR 20K. That is insane. I get the same bill (P&G) in the US for an independent house that is 3-3.5x that too in the American midwest where winters are quite cold and summers quite hot.

[bala]

Vayu ji you may want to bring electricity down to zero
bill is now 0 used to be 6k according to below!

https://x.com/prasannavishy/status/2031182450047726047

[vera_k]

That price includes a lot of US premium surely.

Something's wrong with that electricity bill - maybe someone's stealing electricity? We have 5 3 star A/Cs with 6 tons of cooling, a double door 26 cf fridge, electric tankless water heaters, dishwasher, washer/dryer and the electricity bill has not exceeded INR 6K ever. That's including the little bit of surcharge charged for having a 18KW residential connection instead of the standard 5KW.

[Vayutuvan]

Vayu ji you may want to bring electricity down to zero
bill is now 0 used to be 6k according to below!

https://x.com/prasannavishy/status/2031182450047726047

It is a flat in a co-op society in Navi Mumbai. Not mine.

[Vayutuvan]

That price includes a lot of US premium surely.

Something's wrong with that electricity bill - maybe someone's stealing electricity? We have 5 3 star A/Cs with 6 tons of cooling, a double door 26 cf fridge, electric tankless water heaters, dishwasher, washer/dryer and the electricity bill has not exceeded INR 6K ever. That's including the little bit of surcharge charged for having a 18KW residential connection instead of the standard 5KW.

In which state and which city?

This bill is during peak summer. Levelized plan is coming to INR 12K (which is a lot - ~USD 130 PM).

I spent about a month in India going to multiple places. Very disappointing - pollution, traffic congestion, and the general mahaul.

[vera_k]

Smaller town between Mumbai and Pune. All of the equipment is newer and was bought with an eye on efficiency.

[Vayutuvan]

A small town between Mumbai and Pune. Sweet.

[ritesh]

That price includes a lot of US premium surely.

Something's wrong with that electricity bill - maybe someone's stealing electricity? We have 5 3 star A/Cs with 6 tons of cooling, a double door 26 cf fridge, electric tankless water heaters, dishwasher, washer/dryer and the electricity bill has not exceeded INR 6K ever. That's including the little bit of surcharge charged for having a 18KW residential connection instead of the standard 5KW.

If provider is MSEB, then it's simply cross-subsidy thing.
We had very bad experience with them.

A decade ago, when we shifted from BEST to MSEB, our electricity bil overnight increased 2.5X.

And the worst thing is, there is no recourse as well.

[A_Gupta]

Following the GDP base year revision fiscal deficit ratios were adjusted slightly upward compared with earlier estimates. The updated deficit percentages reflect recalculations using the revised GDP figures.

The new figures are,

FY 2022-23: 6.7% of GDP
FY 2023-24: 5.7% of GDP
FY 2024-25: 4.9% of GDP
Earlier estimates had put up the deficit at 6.4% for FY23, 5.63% for FY24 and 4.8% for FY25.

Via: https://currentaffairs.adda247.com/gove ... ar-update/

[A_Gupta]

The ongoing conflict in West Asia has begun to affect the textile industry in Bhilwara, Rajasthan, with export orders being stalled and trade disruptions impacting shipments worth around Rs 800 to Rs 1000 crore, industry representative said.

Via: https://m.economictimes.com/industry/co ... 495807.cms

[A_Gupta]

https://m.economictimes.com/news/econom ... 455295.cms

HFDC Bank says each 10% rise in oil price can shave 20-25 bps from India’s GDP growth.

[A_Gupta]

“The Goldilocks narrative of strong growth and low inflation persists under the new GDP and CPI series, but is challenged by higher crude oil prices and fuel shortages,” Nomura economists Sonal Varma and Aurodeep Nandi said in a note on Wednesday.