New project announcements during April-December period shrink 29%

A study by CARE Ratings shows that new project announcements by the government tumbled 44%, while those in the private sector fell 19%

Announcement of new projects during April-December of this fiscal witnessed a contraction of 29 per cent to Rs 6.8 trillion from Rs 9.5 trillion in the year-ago period.

A study by CARE Ratings shows that new project announcements by the government tumbled 44 per cent, while those in the private sector fell 19 per cent in the period under review.

At 47.4 per cent, services sector had the highest share in virgin project announcements followed by transport services (42.4 per cent), electricity (21 per cent), manufacturing (20.9 per cent), chemicals & chemical products (12.5 per cent) and construction & real estate (8.5