Indian Economy News

Private, government entities invest Rs 3.57 trn in new projects in Q1FY23

The June quarter (April-June 2022) saw a rise in new project investments from both private and government organisations.

According to data from project tracker Center for Monitoring Indian Economy (CMIE), the overall cost of new projects was Rs. 3.57 trillion (US$ 45.17 billion) for the three months ended June 2022. The amount in March 2022 was Rs. 5.9 trillion (US$ 74.65 billion). The cost of new projects can change depending on the season.

The most recent figures for the quarter ending June 2022 are 21.4% higher than Rs. 2.94 trillion (US$ 37.19 billion) in the quarter ending June 2021.

Projects of over Rs. 87,000 crore (US$ 11 billion) were finished in June 2022. The completion rate was 22.5% greater than it was in 2021. The value of stalled projects decreased by 39.4% to almost Rs. 20,000 crore (US$ 2.53 billion).

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.