Big news has come in India about petrol diesel. Something has happened in the last financial year in India, which is the first time in the last 21 years.
New Delhi: There has been big news about petrol and diesel in India. Something has happened in the last financial year in India, which is the first time in the last 21 years. Fuel consumption in the country recorded a big decline of 9.1 percent during the last financial year. This is the first time in more than two decades that fuel consumption has fallen on an annual basis. Last year, a stringent lockdown was imposed to curb the corona virus epidemic. According to the data released on Friday by the Petroleum Planning and Analysis Cell (PPAC) of the Ministry of Petroleum, in the year 2019-20, the country consumed 21.41 million tonnes of petroleum products. 19.46 million tonnes were consumed in the financial year 2020 – 21 ended March 31. Petrillium consumption has fallen for the first time since 1998–99.
During the last financial year, the consumption of diesel decreased by 12 percent to 7.27 million tons and petrol decreased by 6.7 percent to 27.9 million tons. A huge drop of 53.6 percent was recorded in the consumption of aircraft fuel and it was 37 lakh turne. Naphtha sales were almost the same as a year ago, with 14.4 million tonnes. Alkatara sales increased by 6 percent to 71.1 lakh tonnes due to the speed of road construction. During the last financial year, domestic LPG was the only petroleum product of common need, which recorded an increase in consumption. Its consumption during the year increased by 4.7 percent to 27.7 million tonnes.
In the previous financial year 2019-20, it was 26.6 million tonnes. Consumption of domestic LPG has increased due to free cylinders being given to poor families. The government imposed a nationwide lockdown during April-May last year. The lockdown resulted in the closure of business in the factories. Trade and road transport was also halted. Trains and airlines were all stopped. The lockdown began to be raised in various stages from June onwards.
The gross domestic product (GDP) is expected to fall by 7 to 8 percent during the last financial year. However, the last quarter of the year saw a good improvement in economic activity. But as the second wave of Kovid-19 begins to grow by the end of the year, lockdowns are being imposed again in some states. Due to this, there is again a challenge to the improvement in economic activities.