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Sustainable Development

A solar push to India?s investment cycle

by The Daily Eye Team October 10 2014, 2:14 pm Estimated Reading Time: 0 mins, 52 secs

Solar energy projects alone accounted for Rs.62,800 crore of the Rs.68,200 crore renewable energy projects announced in September quarter The sun is shining on the Indian economy’s capital expenditure recovery cycle. Perhaps not in a way one would expect though. New project announcements rose to Rs.2.14 trillion in the September quarter, up from Rs.90, 840 crore in the three months ended June, according to the Centre for Monitoring Indian Economy (CMIE). One way of interpreting those numbers would be that positive sentiment owing to a new government taking charge and some of its measures are translating to some action on the ground. But that is only one part of the story. About half, or Rs.1.05 trillion, of these fresh investment intentions are from the electricity generation sector. That’s more than a five-fold jump from the Rs.19, 300 crore worth of projects announced in the April to June quarter. In fact, it is just 20% lower than the combined investment announcements of the past three quarters in this sector.

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