354 infrastructure projects cost overrun by Rs 4.55 lakh crore
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The Ministry of Statistics and Program Implementation monitors infrastructure projects costing Rs 150 crore or more. The ministry’s March 2023 report said that out of 1,449 such projects, 354 had cost overruns, while 821 projects were running late.
As many as 354 projects in the infrastructure sector costing Rs 150 crore or more have cost overruns of over Rs 4.55 lakh crore over the estimated cost. A report said that the cost of these projects has escalated due to delays and other reasons. The Ministry of Statistics and Program Implementation monitors infrastructure projects costing Rs 150 crore or more. The ministry’s March 2023 report said that out of 1,449 such projects, 354 had cost overruns, while 821 projects were running late.
According to the report, “The original cost of implementation of these 1,449 projects was Rs 20,69,658.30 crore, but now it is estimated to increase to Rs 25,25,348.87 crore. This shows that the cost of these projects has increased by 22.02 percent i.e. Rs 4,55,690.57 crore. ”According to the report, till March 2023, Rs 13,90,736.58 crore has been spent on these projects, which is 55.07 of the total estimated cost. is the percentage.
However, the ministry has said that the number of delayed projects will come down to 616 if the latest timelines for completion of projects are taken into account. However, the year of commissioning of 333 projects has not been given in this report. The report said that out of 821 delayed projects, 190 projects are delayed by one month to 12 months, 177 projects by 13 to 24 months, 325 projects by 25 to 60 months and 129 projects by more than 60 months.
The average delay in these 821 projects is 37.79 months. The main reasons for delay in these projects are delay in land acquisition, delay in getting clearances from the Environment and Forest Department and lack of infrastructure. Apart from this, due to delay in project financing, detailed engineering, change in project scope, delay in tendering process, delay in award of contracts and procurement of equipment, legal and other problems, unexpected land changes etc. Projects have been delayed.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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