New investments in the country plunged to a 14-year low in the December quarter, reported LiveMint citing data from the Centre for Monitoring Indian Economy (CMIE).
According to the report, CMIE data revealed that Indian companies announced new projects worth Rs 1 trillion in the December quarter, 53 percent lower than what was announced in September quarter, and 55 percent lower than the year-ago period.
According to the report, the fall in capex was due to a decline in project announcements in the private sector. Public sector projects also declined by 37 percent in the quarter when compared to the previous one.
All the sectors in the economy, with the exception of the construction sector, witnessed fall in investments compared to the September quarter, the report added.
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