Less than 1 p.c. of total investment projects completed in Karnataka

A meagre 0.4 per cent of total outstanding investment projects have been completed in Karnataka in 2011-12, according to the Associated Chambers of Commerce and Industry of India (ASSOCHAM), an apex industry body.

Of the total outstanding investments worth over Rs. 37 lakh crore across Karnataka, only projects worth about Rs. 14,000 crore have been completed during the fiscal, it said.

The mining sector in the State saw maximum share of completed projects of about 1 per cent in the total outstanding investments in the sector. Of the outstanding investments worth about Rs. 60,000 crore in the State, projects worth Rs. 600 crore were completed during the last fiscal. About 0.5 per cent of projects each in services and electricity sector got completed, while the real estate sector saw completion of about 0.4 per cent of projects followed by manufacturing (0.3 per cent) and irrigation (0.3 per cent) sectors, said an ASSOCHAM analysis.

“About 0.7 per cent of the total investment projects were completed in the last fiscal across India,” said D.S. Rawat, national secretary general, ASSOCHAM.

Himachal Pradesh topped with completed projects worth over Rs. 8,400 crore, constituting 2.4 per cent in the total outstanding investments worth over Rs. 3.4 lakh crore.

Share of completed projects in the outstanding investments remained below the national average in the states of Maharashtra, Andhra Pradesh, Punjab, Karnataka, Kerala, Chhattisgarh, Bihar and Jammu & Kashmir respectively, it said.