Indian companies announced new projects worth Rs1.95 trillion in the January to March quarter, up from Rs.1.20 trillion in the previous quarter, according to data released by the project-tracking database of the Centre for Monitoring Indian Economy (CMIE). This was the first increase in new project announcements in four quarters, after having fallen to a 13-year low in the December quarter. Manufacturing and power together accounted for more than half of all new project announcements. Solar and wind power constituted almost the entire amount of new project announcements in the power sector. Encouragingly, the rate of stalled projects also declined in the March quarter. However, the stalling rate of private sector projects still remains near a record-high.

(Live Mint)