In a tale-tell sign of slowdown, 60 projects worth Rs 80,338 crore in investments have been stalled over the last 12 months between November 2000 and October 2001. Of these, 42 involving Rs 62,389 crore of investment were private sector projects, including nine (Rs 23,657 crore) that involved foreign participation. In the state sector, 18 projects have been stalled involving an investment of Rs 17,949 crore.
The latest investment survey by the Mumbai-based Centre for Monitoring Indian Economy (CMIE) said the power sector had been the worst hit, with 17 electricity distribution projects involving Rs 40,943 crore in investments failing to take off.
Maharashtra suffered the most, followed by Karnataka and Orissa. In Maharashtra, 14 projects amounting to Rs 26,141 crore were stalled in the last 12 months. Six projects worth Rs 18,700 crore were stalled in Karnataka and four projects involving an investment of Rs 8,092 crore failed to take off in Orissa.
Among the projects stalled in Maharashtra are the Dabhol Power Phase II project (Rs 8,150.80 crore), the Central India Power Company