NEW DELHI: Investments have fallen sharply post demonetisation , slipping to their lowest under the current Narendra Modi-led NDA government, data released by the Centre for Monitoring Indian Economy (CMIE) showed.In the quarter to December, new investment proposals worth Rs 1.25 lakh crore were observed, CMIE said, contrasting it with the average Rs 2.36 lakh crore worth of new investments per quarter in the preceding nine quarters of the Modi government."Data suggests that demonetisation has hit the pace of announcement of new investment proposals during the quarter ended December," Mahesh Vyas , managing director and CEO of CMIE said.The data showed 227 new investment proposals worth Rs 81,800 crore were announced during this quarter before the demonetisation on November 8. Only 177 investment proposals worth Rs 43,700 crore were made between November 9 and December 31.The contrast is starker when adjusted for the number of days in each period."The quarter consisted of 39 days before demonetisation and 53 days after. Evidently, the quarter had more days in the post-demonetisation period and yet, investments during this period were lesser than in the shorter pre-demonetisation period," Vyas said.Only 404 new investment proposals were observed during the quarter ended December, the lowest number of new projects announced in a quarter in over a decade, CMIE analysis showed."On an average, 7-8 projects are announced per day. The post-demonetisation fall in this average to just three projects per day reflects a new level of anxiety on the investments front," Vyas said, adding that the investment climate is expected to remain weak for some more time.Projects involving investments worth Rs 77,700 crore were stalled during the December quarter, 38 per cent higher than the value of projects stalled during the preceding quarter."Eighty per cent of the investments that were stalled during the December quarter were stalled because of lack of environmental and non-environmental government clearances. Lack of government clearances was the biggest factor responsible for stalling of projects under implementation," Vyas wrote.Unfavourable market conditions and lack of promoter interest account for only about 11 per cent of the total projects stalled during the quarter of December, CMIE estimated."Six of the 16 projects that gave reasons for stalling their projects in the December quarter mentioned reasons that imply an adverse business environment. It is important that such projects are revived and saved from remaining stalled for long," Vyas said.