393 infra projects suffer Rs4.65-trn cost overrun
As many as 647 projects were delayed; Reasons include delay in land acquisition and forest& environment clearances, and lack of infrastructure support, project financing, etc
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New Delhi: As many as 393 infrastructure projects, each entailing an investment of Rs150 crore or more, have been hit by cost overruns of more than Rs4.65 lakh crore, as per a report. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects of Rs150 crore and above, out of 1,526 projects, 393 reported cost overruns and as many as 647 projects were delayed.
"Total original cost of implementation of the 1,526 projects was Rs21,26,460.93 crore and their anticipated completion cost is likely to be Rs25,91,823.45 crore, which reflects overall cost overruns of Rs4,65,362.52crore (21.88% of original cost)," said the ministry's latest report for August 2022.
According to the report, the expenditure incurred on these projects till August 2022 was Rs 13,60,645.94 crore, or 52.49 percent of the anticipated cost of the projects However, the number of delayed projects decreases to 500 if delay is calculated on the basis of latest schedule of completion. Further, it showed that for 607 projects neither the year of commissioning nor the tentative gestation period has been reported.
