Amid reports of slowdown, projects worth R4.8 lakh cr to be completed in FY13: CMIE
During the last year (FY12), projects worth Rs 4.3 lakh crore were completed.
“The fact that many industries are slated to see a record or huge capacity addition in FY13 is getting lost in the noise about the slowdown in capex,” the economic think tank said.
“While it is true that new investment proposals have fallen sharply, many projects have failed to take off in the last two years, progress of the existing projects has been slow and many have already overshot their deadline, but projects in advance stages of completion are still chugging well. The industry is expected to complete projects worth R4.8 lakh crore in FY13,” CMIE said. Industrial and infra projects worth R1.8 lakh crore were already commissioned during April-November, while information about projects worth R38,330 crore, which were supposed to get completed during October-November, is yet to be received.
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