State-run oil and gas companies took the lead in announcing investment plans worth Rs 46,540 crore in 2008-09 despite pressure on margins due to delay in pricing reforms in the sector, industry body Assocham said today.
The petroleum and natural gas sector's share in total announced investment of Rs 2,14,970 crore by PSUs in last fiscal was 21.65 per cent, followed by the railways sector 17.08 per cent and the power sector 16.17 per cent, it said.
"Oil and gas, railways and power sector, despite confronting pressures of huge subsidies burdens, have announced the highest investment plans in 2008-09. It is a matter of great satisfaction and others need to emulate them," Assocham President Sajjan Jindal said.
Among 13 public sector units in engaged in petroleum and natural gas operations, Oil and Natural Gas Corporation announced the highest budget outlay of Rs 19,338 crore, followed by Indian Oil Corporation (Rs 8,500 crore), the chamber said.
Among the sectors, railways took the second position with announced investment plans worth Rs 36,729.10 crore in last fiscal, it said.
