Power sector ratings downgraded to negative by Ind-Ra
India Ratings & Research (Ind-Ra) revised its outlook on the power sector for FY 2020-21 from stable to negative. Rising DISCOM dues and stagnant growth in the demand for electricity have contributed to it.
Weakening consumer sentiments due to low GDP growth and the impact of the Coronavirus pandemic are likely to result in subdued power demand for FY 2020-21.
Industries in Maharashtra to get power duty sops
Maharashtra has proposed to reduce the electricity duty on industrial use in its budget. The goal is to ensure retention of industries in the state.
The budget reads: “To promote industries in the state, the government proposed to reduce the electricity duty on industrial use from 9.3% to 7.5% of the consumption charges.” This is the only change proposed.