Friday May 13, 2022

Though new projects announced by non-financial companies recovered to Rs 14.3 trillion in FY22 from Rs 8.4 trillion, the overall amount committed is still lower than the peak of Rs 26.7 trillion in FY09, as also the Rs 23.7 trillion in FY16.

While the share of manufacturing in the new projects announced has grown to 43.5% in FY22 from 38.3% in FY21, that of the services sector has fallen to 19.9% from 31.1%, indicating that the pandemic has hit the sector hard.

The public sector’s share in new projects fell sharply to 29% in FY22 from 45% from FY21 and more than half from the peak seen in FY14, a Bank of Baroda analysis shows.

Source

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