384 infra projects facing cost overrun
Cost shoots up 21.59% from initial sanctioned cost
image for illustrative purpose
New Delhi: As many as 384 infrastructure projects, each entailing an investment of Rs150 crore or more, have been hit by cost overruns of more than Rs4.66 lakh crore in January-March quarter, as per an official report.
According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs150 crore and above, out of 1,566 projects, 384 reported cost overruns and as many as 931 projects were delayed.
“Out of 1,566 projects, 384 projects were having the cost overruns of Rs4,66,874.46 crore which is 21.59 per cent of their sanctioned cost,” a quarterly report for January-March 2023 prepared by the ministry.
However, it stated that with regard to the latest approved cost, 285 projects had reported cost overruns of Rs1,97,069.19 crore. Further, it is noted that 259 projects are having both time and cost overruns.
