Good news is capex cycle is turning, thanks to PSUs

The good news is that, after 6 quarters, the rate of investment starts is looking up. The latest CMIE data for December 2013 shows average four-quarterly new project starts at R1,06,400 crore, or a 29% hike on a qoq basis. The problem, however, is that this is led almost entirely by public sector investment—at R71,000 crore , this rose 73% on a qoq basis.

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