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Investments in new projects during the December quarter have risen 37.4 percent year-on-year (YoY) to Rs 4.26 lakh crore.

In the same period in 2018, projects worth Rs 3.1 lakh crore were announced, according to data provided by project tracker Centre for Monitoring Indian Economy (CMIE).

“This is not only the highest new investment announcements seen anytime in the past seven quarters it is also more than 50 percent higher than the average investment proposals seen over the same period,” CMIE said in a report.

CMI publishes capex data every quarter.

New projects worth Rs 1.36 lakh crore were completed during the December quarter, a slight drop from Rs 1.37 lakh crore during the same period in 2018. But, it is a sharp increase from the projects completed in the previous two quarters – 0.81 lakh crore in the June quarter and 0.79 lakh crore in the September quarter.

“The sudden spurt in completion of projects is welcome but, it does not imply a change in the overall slowdown in project completions during 2019-20,” CMIE said in the report.

CMIE estimates that 2019-20 may still see lower fresh investment proposals than the Rs 12 lakh crore reported in 2018-29.

Projects worth Rs 13,200 crore were stalled during the October-December quarter, which was the lowest in 11 years. The scenario of stalled projects being at a record low is unlikely to change soon though the estimate may be revised in future.

At the beginning of the December quarter, there were projects worth Rs 188.7 lakh crore in the pipeline, and the quarter ended with Rs 191.3 lakh crore projects in the execution and completion stages.