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Explained: Why heatwaves are bad for India’s economy
It will be a crucial year for India’s economy at a time when geopolitical tensions, rising global uncertainties, a brewing banking crisis, and inflation have hurt major economic superpowers in the West. But there is one factor that could play spoilsport. This can be damaging to the economy as a whole, leading to reduced consumer spending, lower economic growth, and increased economic inequality. Power-related disruptions Last but not least, heatwaves can put a strain on the energy sector, particularly the power grid. A report, based on an internal note by the central grid regulator, indicated that the country faces the risk of rising blackouts in summer due to rising power demand. Source: India Today
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