Election impact: New projects down 85% YoY in June on Capex slowdown

CMIE data puts value of new projects at Rs 43,000 cr, compared with Rs 3.45 trillion a year ago; completed projects down 60% to Rs 53,000 cr from Rs 1.33 trillion in June 2018

Capital expenditure slowed in the June quarter, according to data released by the Centre for Monitoring Indian Economy (CMIE).

New projects were down over 85 per cent compared to June last year, shows data from CMIE, which tracks projects and their implementation. The value of new projects in June 2018 was Rs 3.45 trillion. This fell to Rs 43,000 crore in the June quarter.

The value of completed projects was down 60 per cent to Rs 53,000 crore from Rs 1.33 trillion in the same period last year. Stalled projects were down by more than a third from Rs 37,000