The implementation of projects in Andhra Pradesh does not match the hype surrounding investment flows to the State.
A meagre 0.6 per cent of total outstanding investments, including all projects under various stages of implementation, have been completed during the last fiscal.
Of outstanding investments worth over Rs 46 lakh crore across the State, projects worth about Rs 26,000 crore only were completed during fiscal 2011-12, according to an analysis of The Associated Chambers of Commerce and Industry of India (Assocham).
However, viewed in the national context, the performance does not seem very discouraging. “About 0.7 per cent of the total investment projects were completed in the last fiscal across India,” said D.S. Rawat, Secretary-General of the apex chambers while releasing the findings of their analysis.
“Of outstanding investment projects worth over Rs 542 lakh crore across India, projects worth about Rs 4 lakh crore were completed during the fiscal year,” he said.
Himachal Pradesh with 2.4 per cent, Haryana (1.3), Assam, Uttarakhand (1.1) and Gujarat with 0.9 per cent were ahead of Andhra Pradesh in percentage terms.
The manufacturing sector in the State saw maximum share of completed projects. Of investments worth about Rs 9 lakh crore, projects worth Rs 9,300 crore were grounded. The mining sector, which was caught up in scams and controversies saw no action, though there were outstanding investments to the tune of over Rs 1.5 lakh crore.