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Wednesday, June 12, 2024

442 infra projects report cost overrun of Rs 4.34 lakh cr

As many as 442 infrastructure projects have reported a cost overrun of more than Rs 4.34 lakh crore as of December 1, according to the data from the Ministry of Statistics and Programme Implementation.

A report by the Ministry showed that 536 Central sector projects are delayed from their original schedules.

“Total original cost of implementation of the 1,671 projects was 21,21,383.82 crore and their anticipated completion cost is likely to be 25,55,957.52 crore, which reflects overall cost overruns of 4,34,573.70 crore (20.49 per cent of original cost),” said the report.

The expenditure incurred on these projects till November 2020 is nearly Rs 11.94 lakh crore, which is 46.71 per cent of the anticipated cost of the projects.

It said that of the overall 1,671 Central sector infrastructure projects costing Rs 150 crore and above, nine projects are ahead of the schedule, 184 are on schedule, 536 are delayed, 442 projects reported cost overrun and 212 projects reported both time and cost overrun with respect to their original project implementation schedules.

However, it said the number of delayed projects decreases to 412 if delay is calculated on the basis of latest schedule of completion.

Further, for 942 projects neither the year of commissioning nor the tentative gestation period has been reported.

(The story has been published via a syndicated feed.)

Featured image source- Business Today

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