In India and across the world, COVID-19 has disrupted economic activity. Quantifying this disruption is challenging. Traditional national account estimates, the official government measure for economic activity, are not very helpful for that. To monitor economic activity in times like these, one needs instead measures that are available at higher frequency and higher spatial granularity- for example at the district level.
In India, the amount of electricity used (measured as total consumption) and the intensity of lights in the evening (measured as lights per area) are useful proxy indicators. Similarly, monthly nighttime light intensity, observed by satellites from outer space, contains information about economic activity at high spatial granularity and has hence been used in a wide array of economic studies. Both proxy indicators are positively related to economic activity in India.
The two proxy indicators fulfill different purposes and complement each other. Electricity consumption data is available at higher frequency and has a stronger relationship with economic activity. Nighttime lights data, on the other hand, is available at a much higher spatial granularity.
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August 11, 2020 at 11:19AM
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India's electricity consumption data shows economic impact of COVID-19 - World Bank Group
"consumption" - Google News
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