March quarter sees 53.6% surge in new projects at Rs 5.1 trn: CMIE data

Their value is higher than it was in December, as well as in the same quarter last year

The value of new projects which came up in the three months ended March was 53.6 per cent more than was seen in a similar period ending December 2021.

At Rs 5.1 trillion, it was also more than twice the Rs 2.45 trillion seen during the three months ending March 2021, showed data from project tracker Centre for Monitoring Indian Economy (CMIE). The higher new project numbers come around the time of elections in the five states of Uttar Pradesh, Manipur, Uttarakhand, Punjab and Goa which concluded in March.  Completion and stalling rates haven’t kept up.

New projects can cover