The percentage of public sector stalled projects to those under implementation amounted to 5.77%. In contrast, stalled projects in the private sector rose to 18.98% from 18.51% in the March quarter and 15.89% in the June quarter last year. Large borrowers’ share of gross bad loans has risen faster than their share of total bank credit over the past year. Weak progress on project implementationDespite the announcement of several new projects in the March quarter, there has only been a minimal improvement in the volume of stalled projects. Seventh Pay Commission gets cabinet nodThe cabinet has accepted the recommendations of the Seventh Pay Commission for pay and pension increases ranging from 14% to 23.5% for 4.7 million employees and 5.3 million pensioners.

Source: Mint July 02, 2016 18:00 UTC