Haryana tops in investment implementation

CHANDIGARH: With over 82 per cent of investment projects under implementation, Haryana has recorded highest rate of implementation of investments amid industrialized states throughout India. A staggering 43 per cent of total investment projects worth Rs 52 lakh crore remained non-starter in the country as of March 2013, while over 34 per cent of these investments are stuck at the stage of announcement, implementation of about six per cent of projects has been stalled apex industry body ASSOCHAM said today.

Jammu and Kashmir (81.4 per cent), Punjab (79 per cent), Assam (72 per cent) and Chhattisgarh (69 per cent) are amid top five states that are currently witnessing a high rate of implementation of investments, according to the ASSOCHAM analysis. The performance

"Investments worth over Rs 69.5 lakh crore i.e. just about 57 per cent of the total investments of over Rs 122 lakh crore attracted from various public and private sources are under implementation stage as of March 2013," according to an analysis of investments carried out by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

"These dismal figures showcase that owing to prevalence of global recessionary trends and slowdown of Indian economy investments across states have been kept on hold which is worrisome for a country that desperately needs investments," national secretary general of ASSOCHAM, DS Rawat said.

"The prevailing unstable external and internal economic conditions, high inflation, credit availability and its cost along with a host of local problems like delays owing to land acquisition have been affecting the investment scenario in India," said Mr Rawat. "Only states that try to address genuine concerns of investors to possible extent see higher implementation rates."

Amid other industrialized states, Rajasthan, Madhya Pradesh, Karnataka, West Bengal, Tamil Nadu, Gujarat and Jharkhand have recorded lower rates of implementation, highlighted the ASSOCHAM analysis.