New projects in April-June down over 90% to lowest on record, shows data

Election quarter also marked by lower project completions

Announcements on setting up factories, building roads, and other new projects fell below the Rs 1 trillion mark, according to early data for the April-June quarter (Q1) of 2024-25. The Q1 figure of Rs 60,000 crore is 92 per cent lower than the Rs 7.9 trillion recorded in the year-ago quarter, shows data from Centre for Monitoring Indian Economy (CMIE).

The latest numbers are subject to revisions but can be considered broadly indicative of the trend. 

No other quarter has shown a lower figure for new project announcements in the data going back to September 2009.

Deepak Jasani, head of