Only 0.6% projects completed in AP: ASSOCHAM

Hyderabad, September 14 (INN): A meagre 0.6 per cent of total outstanding investments including all projects under various stages of implementation in Andhra Pradesh got completed during the last fiscal, apex industry body ASSOCHAM said on Friday.

Of the total outstanding investments worth over Rs 46 lakh crore across Andhra Pradesh, only projects worth about Rs 26,000 crore were completed during the fiscal year 2011-12, according to an analysis of the Associated Chambers of Commerce and Industry of India (ASSOCHAM).

The manufacturing sector in Andhra Pradesh saw maximum share of completed projects of about one per cent in the total outstanding investments in the sector.

Of the outstanding investments worth about Rs nine lakh crore, projects worth Rs 9,300 crore got completed during the last fiscal. While not even a single project in the mining sector got completed which had outstanding investments worth over Rs 1.5 lakh crore.

About 0.5 per cent of projects in each services and real estate sector got completed, while the electricity sector saw completion of about 0.6 per cent of projects followed by irrigation (0.1 per cent), according to the ASSOCHAM analysis.

'About 0.7 per cent of the total investment projects were completed in the last fiscal across India,' said DS Rawat, national secretary general of ASSOCHAM while releasing the findings of the chamber's analysis.

'Of the total outstanding investment projects worth over Rs 542 lakh crore across India, projects worth only about Rs four lakh crore were completed during the fiscal year,' said Rawat.

'Himachal Pradesh ranked on top with completed projects worth over Rs 8,400 crore garnering a share of about 2.4 per cent in the total outstanding investments worth over Rs 3.4 lakh crore across the state,' said Rawat.

'While completed projects had a lowest share of just about 0.1 per cent in total outstanding investments in the states of Bihar and Jammu and Kashmir respectively,' he said.

According to ASSOCHAM, maximum number of completed projects was in the manufacturing sector which accounted for a share of 1.38 per cent of the total outstanding investments in the sector across India.

Services (0.7 per cent), mining (0.6 per cent), electricity (0.5 per cent), real estate (0.2 per cent) and irrigation (0.1 per cent) were other sectors which saw completion of projects during the aforesaid period.

Haryana (1.3 per cent), Assam (1.1 per cent), Uttarakhand (1.1 per cent) and Jharkhand (one per cent) were other states where the share of completed projects in the outstanding investments respectively remained over one per cent.

While Gujarat (0.9 per cent), Uttar Pradesh (0.9 per cent) and Madhya Pradesh (0.8 per cent) were other states where the share of completed projects remained above the national average of 0.7 per cent, according to the ASSOCHAM analysis.

The share of completed projects in West Bengal, Tamil Nadu, Odisha and Rajasthan remained similar to that of the national average.

Share of completed projects in the outstanding investments remained below the national average in the states of Maharashtra, Andhra Pradesh, Punjab, Karnataka, Kerala, Chhattisgarh, Bihar and Jammu and Kashmir respectively.