Projects worth Rs.26,000 cr. completed out of outstanding investments worth Rs.46 lakh crore: ASSOCHAM
An analysis by the apex industry body ASSOCHAM has revealed that a meagre 0.6 per cent of total outstanding investments covering all projects in Andhra Pradesh got completed during 2011-12.
National level figure
However, the mandarins in the State Secretariat can draw solace from the study’s finding that at the national level too, the figure was almost similar – 0.7 per cent. In Andhra Pradesh, only projects worth Rs.26,000 crore were completed out of the total outstanding investments worth over Rs.46 lakh crore.
According to Mr. D.S. Rawat, National Secretary General of ASSOCHAM, the maximum share of completed projects was in the manufacturing sector. This sector saw maximum share of completed projects of about one per cent.
The State government is keen that the share of manufacturing sector in the GDP grows as it alone can give push to the growth of ancillary units and employment generation.
Of the outstanding investments worth about Rs.9 lakh crore in the manufacturing sector, projects worth Rs.9,300 crore got completed during the last fiscal. Not even a single project got completed in the mining sector which had outstanding investments worth over Rs.1.5 lakh crore.
About 0.5 per cent of projects, each in the services and real estate sectors got completed, while the energy sector saw completion of about 0.6 per cent followed by irrigation with 0.1 per cent, the analysis said.
While Haryana, Uttarakhand and Jharkhand were the States where the share of completed projects remained over one per cent, Gujarat, Uttar Pradesh and Madhya Pradesh were others where the percentage was above the national average of 0.7 per cent.
The share in West Bengal, Tamil Nadu, Odisha and Rajasthan was the same as the national average while it was below this figure in Andhra Pradesh, Punjab, Karnataka, Kerala, Chhattisgarh, Bihar and Jammu and Kashmir.