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Forecasting Capital Expenditure in the Corporate Sector

C. Rangarajan
Economic and Political Weekly
Vol. 5, No. 51 (Dec. 19, 1970), pp. 2049-2051
Stable URL: http://www.jstor.org/stable/4360849
Page Count: 3
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Forecasting Capital Expenditure in the Corporate Sector
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Abstract

In countries like the US, a standard approach to forecasting capital expenditure in the corporate sector has been to survey the investment intentions of companies and to predict the likely investment on the basis of these intentions. Such surveys are yet to be developed in India and some efforts made in this direction have not yielded good results. An alternative approach based on the same idea stems from the nature of the financing of industrial projects in this country. Almost all major projects approach the term lending institutions which as a result have with them complete data on the projects for which they have been approached for assistance in one form or the other. By aggregating information about the time phasing of capital expenditure on projects, it should be possible to indicate the investment that is likely to be made in the course of a year on all the projects for which assistance has been provided. This paper presents the results of an exercise along these lines using data made available by the ICICI and the IFC.

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