A direct, primary-source verification pass across 9 administering ministries/departments — not PIB, not press — covering every PLI/incentive scheme this repo tracks: how much of each scheme's outlay is actually utilized, what incentives remain, and whether the application window is still open. Also tests two specific data sources for state/sector development tracking — DPIIT's IEM Form A/B intent-to-implementation data and MoSPI's mega-project monitoring — and reports honestly where neither fits as cleanly as hoped.
DPIIT's published IEM data has no investment-size band anywhere — not in the monthly IEM Statistics Report, not in the Annual Report appendices, not on the NSWS filing portal. The ₹150 crore threshold doesn't belong to DPIIT/IEM at all — it's MoSPI's separate cutoff for Central Sector infrastructure monitoring, a different dataset entirely with no shared key. A clean "Form A/B for projects above ₹150cr" filter is not possible from public data as it stands. Update (verified interactively 2026-07-19): searching "IEM" in DPIIT's restructured publications listing returns "No Data Available", and the legacy SIA-statistics route is a dead page — the monthly IEM Statistics Report series is now verifiably absent from the listing, not merely unconfirmed.
5-year aggregate (2021 – Dec 2025): 68.8% — and the trend broke sharply upward: 82.0% in 2024, then 109.9% in 2025 — Part-B implemented investment exceeded same-year Part-A intentions for the first time in the series. Since Part-B lags Part-A by years, this reads as the 2021-22 intent surge (₹7.7 lakh cr proposed in 2021 alone) maturing into 2024-25 implementation. Part-A filing counts simultaneously fell steeply (1,267 → 986 → 702), consistent with the Apr 2025 threshold raise (₹50cr → ₹125cr) cutting smaller filings — fewer, larger IEMs. Revision warning: AR 2024-25's 2024-to-Nov Part-B figure (₹2.96 lakh cr) became ₹4.94 lakh cr in AR 2025-26's full-2024 column — treat partial-year IEM figures as heavily provisional. Continuity nuance: the monthly IEM report series is dead, but the annual appendix series survives the NSWS migration.
MoSPI's Infrastructure and Project Monitoring Division tracks Central Sector projects ≥₹150cr implemented by ministries, PSUs, and statutory agencies — roads, rail, power, coal, PSU steel-plant upgrades. None of this repo's 10 priority sectors appear as tracked categories (confirmed by a full-text search of the March 2026 Flash Report). MoSPI also quietly stopped classifying projects as "delayed" after May 2025 — a real transparency regression from its earlier reporting.
"Energy Storage" (15 projects) sounds relevant but is confirmed to be pumped-hydro plants run by NHPC/NTPC — not battery gigafactories. "Steel" (18 projects, ₹17,812cr) is entirely SAIL/PSU plant upgrades (Bhilai, Bokaro, IISCO) — no Tata Steel or JSW project appears.
| State | Mega-projects tracked | Revised cost (₹cr) |
|---|
None of this repo's named flagship private projects (Tata Steel Kalinganagar, Micron Sanand, Tata-PSMC Dholera, Reliance's battery gigafactories, RRPCL) appear in this tracking. What does appear: the enabling public infrastructure around some hubs — "Development of Dholera International Greenfield Airport" (AAI, ₹1,305cr) and "Transmission System for Reliable Power Supply to Dholera" (POWERGRID, ₹319cr).
The Quarterly FDI Factsheet for Q4 FY2025-26 (published 3 Jun 2026) closes the full FY2025-26 year: FDI equity inflow ₹5,16,936cr / $58.85bn — up 23% in INR and 18% in USD over FY2024-25 ($50.02bn). This extends this repo's FDI series by a full year: the FDI-vs-PLI-launch bulletin's sector tables end at FY2024-25, when the national cycle was flat-to-declining — any post-FY25 sector re-analysis must re-baseline against a now-rising national cycle. Sector-wise and state-wise FY2025-26 splits are in the same factsheet (Services and Computer Software & Hardware still top; Maharashtra/Karnataka/Gujarat the top states) but are not yet re-extracted into the sector verdicts — flagged as the first task for the next quarterly refresh, along with the updated FDI metadata document (27 Feb 2026) that may supersede the "Documentation on methodology: Not applicable" version this repo quotes.
| DPIIT proxy category | FY2024-25 | FY2025-26 | Change | Read |
|---|---|---|---|---|
| Electronics | 2,043 | 1,153 | −43.5% | The "strongest signal" sector nearly halved even as national FDI grew 18% — verdict re-examination needed. |
| Drugs & Pharmaceuticals | 891 | 1,912 | +114% | More than doubled — the prior two-year decline reversed sharply. |
| Automobile Industry | 1,586 | 2,459 | +55% | Strong rebound; needs deal-level tracing before crediting PLI (the FY21-22 lesson). |
| Electrical Equipments (White Goods proxy) | 531 | 840 | +58% | First meaningful post-launch rise — consistent with "full subscription Jan 2026, wave still ahead." |
| Metallurgical Industries (Steel proxy) | 951 | 839 | −12% | Still below pre-launch baseline; POSCO-JSW's Apr-2026 cash lands in next year's data. |
| Medical & Surgical Appliances | 627 | 374 | −40% | The "cleanest positive result" reversed — consistent with its concentration in a few MNC deals. |
State side (Table 13): Maharashtra $18.4bn (31.3%), Karnataka $12.9bn, Gujarat $5.7bn, Tamil Nadu $4.7bn — and Assam: $2.37M, still essentially zero against the ₹27,000cr Tata Electronics headline. The registered-office/domestic-capital finding holds for a second consecutive year. All 27 newsletter statement PDFs archived; extracted with layout-preserving parsing to keep name↔value pairing reliable.
AHIDF's dashboard (a public, no-login Power BI report at ahidf.udyamimitra.in, refreshed nightly — "Data Last Updated on 19-07-26, 12:11 AM" when checked) is a genuine counter-example to everything above: state-wise, district-wise, and bank-wise splits; the full application funnel including rejections and withdrawals; and sanctioned and disbursed amounts side by side. No PLI ministry publishes anything close. Its precise ceiling: still aggregates-only (no project/promoter list), and it stops at "loan disbursed" — one gate short of "project operational."
Alongside: 3,974 rejected in screening, 3,939 withdrawn, 304 rejected by lenders — ~96% of applications have not reached disbursement, and the scheme window closes 31.03.2026 with ~₹5,405cr disbursed against a ~₹29,610cr outlay envelope. State leaders (approved projects, Lok Sabha USQ 251): Maharashtra 63 projects/₹1,836cr, West Bengal 31, UP 30, Tamil Nadu 29/₹1,295cr. Caveats: at least four different "sanctioned" counts circulate depending on stage (910 lender sanctions vs 541/486/366 in ministry documents); the employment KPI (94,593) is a projection "from Sanction Stage," not measured jobs; and DAHD's own page states a ₹29,110cr outlay while the Cabinet announcement says ₹29,610cr — an unresolved ₹500cr discrepancy.