Omicron overhang: New projects drop for second straight quarter

Meanwhile, the value of completed projects went up for the second quarter in a row to Rs 1.4 trillion from Rs 1.15 trillion

New projects fell 6.3 per cent in the December quarter compared with the September quarter. The value of new projects in the just-concluded quarter was Rs 2.1 trillion, according to the data from Centre for Monitoring Indian Economy (CMIE), which was lower than the Rs 2.2 trillion seen in the September quarter. It is, however, higher than Rs 1.5 trillion recorded for the quarter ended December 2020, the first year of the Covid-19 pandemic.
 
This data ties in with the November data for core sector growth, an index of eight core industries, which grew at its slowest pace since