The Associated Chambers of Commerce and Industry’s latest report points out that less than 1 per cent of projects in the state were completed last year. Andhra figured in the list of states that scored below the national average of 0.7 per cent of projects completed, joining Maharashtra, Punjab, Karnataka, Kerala, Chhattisgarh, Bihar and Jammu and Kashmir. “Of the total outstanding investments worth over Rs 46 lakh crore across AP, only projects worth about Rs 26,000 crore were completed during the fiscal year 2011-12,” said the report.
While the manufacturing sector in AP saw a maximum share of completed projects, this accounted for about one per cent in the total outstanding investments in the sector. According to the report, “Of the outstanding investments worth about Rs 9 lakh crore, projects worth Rs 9,300 crore got completed during the last fiscal. 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 the 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)”.
Topping the list were Haryana (1.3 per cent), Assam (1.1 per cent), Uttarakhand (1.1 per cent) and Jharkhand (1 per cent), which scored well above the national average. While the national average of 0.7 per cent were achieved by states like Gujarat (0.9 per cent), Uttar Pradesh (0.9 per cent) and Madhya Pradesh (0.8 per cent), the share of completed projects in West Bengal, Tamil Nadu, Odisha and Rajasth-an remained similar to that of the national average.