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Tuesday, November 28, 2023

450 infra projects report cost overrun of Rs 4.28 lakh cr

As many as 450 infrastructure projects have reported a cost overrun of over Rs 4.28 lakh crore as of January 1, 2021, data from the Ministry of Statistics and Programme Implementation showed.

According to the data, 558 out of 1,687 Central sector projects are delayed.

The total original cost of implementation of the 1,687 projects was over Rs 21.44 lakh crore and their anticipated completion cost is likely to be over Rs 25.72 lakh crore, which reflects overall cost overruns of Rs 4.28 lakh crore, 19.96 per cent of original cost.

Out of the 1,687 projects, only 11 projects are ahead of schedule, while 195 are on schedule, 558 are delayed, 450 projects reported cost overrun and 221 projects reported both time and cost overrun with respect to their original project implementation schedules.

However, the number of delayed projects decreases to 408 if delay is calculated on the basis of latest schedule of completion.

Further, the ministry’s report showed that for 923 projects neither the year of commissioning nor the tentative gestation period has been reported.

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

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