about six per cent of projects has been stalled and there is no information of the remaining (three per cent) projects,” said D.S. Rawat, national secretary general of ASSOCHAM while releasing the analysis.
“Investments worth over Rs 69.5 lakh crore that is just about 57 per cent of the total investments of over Rs 122 lakh crore attracted from various public and private sources are under implementation stage as of March 2013,” said Rawat. “These dismal figures showcase that owing to prevalence of global recessionary trends and slowdown of Indian economy investments across states have been kept on hold which is worrisome for a country that desperately needs investments.”
“The prevailing unstable external and internal economic conditions, high inflation, credit availability and its cost along with a host of local problems like delays owing to land acquisition have been affecting the investment scenario in India,” said Rawat. “Only states that try to address genuine concerns of investors to possible extent see higher implementation rates.”
Inadequate addressal of project induced displacement, failure of implementation of Resettlement and Rehabilitation (R&R) policies, environmental clearances, bureaucratic delays, lack of clear cut policies and others have been contributing to lower implementation rates of investment projects in India, further highlighted the ASSOCHAM analysis.