A recent report by CMIE or the Centre for Monitoring Indian Economy indicates that new project announcements decline sharply with private sector investment proposals at 15-quarter low.

In an interview to CNBC-TV18, Mahesh Vyas, MD & CEO of CMIE spoke about the same.

The results for September 2017 quarter have been very depressing. We have seen only around Rs 845 billion worth of new investments being proposed and we used to get at least Rs 1.5 trillion worth of new investment proposals and in better times, we used to see more than Rs 2 trillion worth of new investments, he said.

This is a very low number and a particularly bad quarter this time. So contextually this is depressing, he added.