Projects Today’s quarterly investment survey conducted in the first week of January 2018 indicated that 7,246 new projects entailing a total investment of Rs 8,39,090.94 crore were announced during the first nine months of FY 2018.
The 69th Survey of Projects Investment in India indicates that fresh investment by the private sector increased by an impressive 37.5 percent in the first nine months of FY 2018 on a year-on- year basis and the outstanding projects investment as of 31 December 2017 increased by 14.9 percent -- the second highest growth rate recorded in the last seven years.
During April-December 2017, 1,329 new projects entailing a total investment of Rs 2,75,483 crore were announced by private companies. Despite a small fall in the number of new projects, the fresh project outlays increased by 37.5 percent. The increase is noteworthy because in July 2017 the government implemented a major tax reform in the form of GST.
The total fresh investment including that of the government sector fell by 0.4 percent during the first nine months of FY 2018. The 12.2 percent decrease in the government announcement, especially by the central government companies in the Q3 FY 2018, restrained the fresh investment figures at last year’s levels.
The first nine months of FY17 saw heavy investment by government sector in the roadways, fertilisers, refinery, railways and power distribution sectors. While roadways continued to be the main focus area of government investment, the current year saw the central and state government focusing on telecom, irrigation, power, smart cities and water supply projects.
On the other hand, large scale private investments were seen in the metals, automobiles, cement, mining, and port developments sectors.
Maharashtra, with 973 projects entailing a total investment of Rs 1,12,832 crore, ranked first. The state was followed by Odisha and Rajasthan.