[ad_1]
‘70% of new projects from pvt. sector’
The State Bank of India’s Economic Research Division said the investment scenario was optimistic, with the private sector starting to invest and 70% of new investments coming from the private sector. This said, despite the general risk of a third wave of COVID-19 hitting India.
“Compared to £ 10.8 trillion in FY2008, new announcements of about £ 11 trillion were reported in FY2009, and according to the project, investment announcements of about Rs. 56,000 have been announced so far in FY2010. It looks optimistic about what happened … (April-August) Soumya Kanti Ghosh, Group Chief Economic Advisor of SBI, the author of the report, said:
“It’s appropriate to mention that about 70% of this, or 3.84 larks, is from the private sector and about 30% is from the government,” he said.
He added that the backlash from the announcement of new infrastructure projects by both central and state agencies helped the infrastructure sector maintain the steady growth observed since the second quarter of 2009.
According to the report, the announcement of a new project in July 2021 hit a new high. That month, 988 projects worth Rs 145,000 were announced. The last example of a total of over 900 new projects announced dates back to January 2019, when 926 announcements were made.
The major sectors reporting new announcements include basic chemicals, steel, plastics and plastics products, electronics, automotive, unconventional energy, roads and real estate.
Gauche said in a report that by this year there had been bids worth R29,700 from sectors such as coal, hospitals, water and sewage pipelines and distribution, roads and railroads.
Regarding GDP, he said: “It’s too early to predict GDP growth in 2010, but we believe this is in the single digits and ranges from 8.5 to 9.0%. The RBI estimate for 2010 is 9.5% (No. 1). Based on the quarterly growth rate of 21.4%), it is now down to 9.3% (20.1% growth rate). “
He said the market is preparing for the Federal Reserve Board, which has already signaled that it will begin tapering by the end of the year.
“Some capital flight is imminent from emerging markets, including India. However, the RBI has accumulated sufficient foreign exchange reserves, and increased retail participation in the stock market provides the necessary support. “I will,” he added.
The number of cases of COVID-19 has begun to increase again in India, and infections now appear to be concentrated in more than 60% of cases from Kerala, but the risk of the third wave still remains, he said. Emphasized.
..
[ad_2]