384 infrastructure projects cost over Rs 4.66 lakh crore in March quarter
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The ministry’s January-March 2023 quarterly report said that out of 1,566 such projects, 384 have cost overruns, while 931 projects are running late. According to the report, “Out of these 1,566 projects, 384 had a cost overrun of Rs 4,66,874.46 crore or 21.59 per cent over the original estimate.”
As many as 384 projects in the infrastructure sector costing Rs 150 crore or more have cost overruns of over Rs 4.66 lakh crore in the January-March quarter. This information has been given in an official report. The Ministry of Statistics and Program Implementation monitors infrastructure projects costing Rs 150 crore or more. The ministry’s January-March 2023 quarterly report said that out of 1,566 such projects, 384 have cost overruns, while 931 projects are running late. According to the report, “Out of these 1,566 projects, 384 had a cost overrun of Rs 4,66,874.46 crore or 21.59 per cent over the original estimate.”
However, the report said that if we look at the current limit of cost sanction, then the cost of 285 projects has increased by Rs 1,97,069.19 crore. On the other hand, there are 259 projects whose cost has escalated and which are also running behind schedule. The cost of implementation of these 1,566 projects is Rs 26,29,193.77 crore. As per the report, till March 31, 2023, Rs 14,71,873.93 crore has been spent on these projects, which is 55.98 per cent of the total estimated cost and 68.06 per cent of the original cost. Rs 2,81,251.99 crore was allocated for these 1,566 projects in 2022-23. Of the 1,566 projects, 12 are running ahead of schedule, the report said. 292 projects are running on schedule while 931 projects are delayed. Information about the completion time of 331 projects has not been given.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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