New Delhi:The Covid-19 pandemic is now bringing out the real impact it had on demand compression and economic activity in various sectors.
Fuel consumption, an important barometer of the health of an economy, had shown contraction for the first time in two decades falling by a big margin of over nine per cent in FY21 as pandemic related lockdowns curbed economic activity and reduced the movement of goods and services across the country.
According to oil ministry's Petroleum Planning and Analysis Cell (PPAC), country's total consumption of petroleum products fuel fell to 195 million tonne (mt) in 2020-21 as against 214 mt in previous financial year.
This is for the first time since 1998-99 that consumption of petroleum products have shrunk in the country indicating the extent of economic impact that's the pandemic is having in the country.
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