New projects fell more than 90% in April-June to lowest level ever, data shows

Announcements on setting up factories, building roads and other new projects remained 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, data from the Centre for Monitoring Indian Economy (CMIE) showed.

The most recent figures are subject to revision, but can be considered broadly indicative of the trend.

No other quarter has seen a lower figure for new project announcements since September 2009.

Deepak Jasani, Head of