Experts feel better economic health soon, attribute rise in in fuel consumption as a sign
Posted on: 23/Nov/2015 9:53:20 AM
Trends in the market have shown that there will be improvement in the economy of the country. One of the key indicators is commercial vehicle sales. Both these and passenger vehicles sales have been high recently. As a result, sales of petrol and diesel have also been rising now.
In September and October this year, diesel sales rose by 20.2% and 16.3% respectively. According to an expert, Capacity utilisation is a lead indicator and fresh enquiries signify the strong possibility of revival. The initial sign of green shoots are the fact that the construction equipment market has stopped contracting. Capacity utilisation has definitely gone up and new machines are being bought in the market. We are expecting a U-shaped recovery.
Due to the start of mining activity, Chhattisgarh, Bihar and Odisha have seen the highest fuel consumption in the country, with 10%, 9.7% and 10% respectively.
