Less than 1 pc of projects got completed in 2011-12: ASSOCHAM

By admin September 18, 2012 1:10 pm IST

A meagre 0.7 per cent of total outstanding investments including all projects under various stages of implementation got completed during 2011-12, apex industry body Associated Chambers of Commerce and Industry of India (ASSOCHAM) announced.
Of the total outstanding investments worth over Rs. 542 lakh crore across India, only projects worth about Rs. 4 lakh crore were completed during the fiscal year 2011-12, according to an analysis of the ASSOCHAM.
“Himachal Pradesh ranked on top with completed projects worth over Rs. 8,400 crore garnering a share of about 2.4 per cent in the total outstanding investments worth over Rs. 3.4 lakh crore across the state,” informed DS Rawat, National Secretary General of ASSOCHAM while releasing the findings of the chamber’s analysis.
While completed projects had a lowest share of just about 0.1 per cent in total outstanding investments in the states of Bihar and Jammu and Kashmir respectively. Haryana (1.3 per cent), Assam (1.1 per cent), Uttarakhand (1.1 per cent) and Jharkhand (one per cent) were other states where the share of completed projects in the outstanding investments respectively remained over 1 per cent.

Gujarat (0.9 per cent), Uttar Pradesh (0.9 per cent) and Madhya Pradesh (0.8 per cent) were other states where the share of completed projects remained above the national average of 0.7 per cent, according to the ASSOCHAM analysis. The share of completed projects in West Bengal, Tamil Nadu, Odisha and Rajasthan remained similar to that of the national average.
Share of completed projects in the outstanding investments remained below the national average in the states of Maharashtra, Andhra Pradesh, Punjab, Karnataka, Kerala, Chhattisgarh, Bihar and Jammu & Kashmir respectively.
“Maximum number of completed projects were in the manufacturing sector which accounted for a share of 1.38 per cent of the total outstanding investments in the sector, Mr Rawat. Services (0.7 per cent), mining (0.6 per cent), electricity (0.5 per cent), real estate (0.2 per cent) and irrigation (0.1 per cent) were other sectors which saw completion of projects during 2011-12.