Completion rates for projects in India fall to precipitously low levels: Data
Depleted demand and uncertainty over return of some form of normalcy will continue to dent the capacity-expansion investment projects initiated by the private sector, the Centre for Monitoring Indian Economy said. This is contrary to many economic indicators which have shown a substantial albeit incomplete recovery in the second quarter, it said.
Data from CMIE’s CapEx service that tracks the initiation, implementation and completion of capacity-expanding projects shows the completion rates for projects in India has fallen to precipitously low levels ranging between 0.2-0.28% in the first two quarters of the current fiscal compared to average rate of completion of over 1% in the recent past. Data shows projects worth Rs 326 billion were completed during the quarter ended September 2020 while projects worth Rs 240 billion were completed in the June 2020 quarter.