Construction Sector 12-16% Decline
Investment in Indian construction industry is likely to witness a 12-16 per cent decline during the current fiscal year, Crisil NSE 0.80 % said. According to the rating agency, the economy, the construction industry, which mirrors the economy, is expected to take a huge blow from the pandemic ripple effects on the economy. There is a decline in investment factors in lower capex by central and state governments due to diversion of funds towards healthcare, public welfare and social obligations. As a result of all these factors, a 12-16 per cent contraction in construction investment is expected this fiscal to Rs 7.3 lakh crore from Rs 8.6 lakh crore in FY2020.
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