Cost of 421 projects in infrastructure sector increased by Rs 4.40 lakh crore
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The cost of 421 infrastructure projects involving investment of more than Rs 150 crore rose by more than Rs 4.40 lakh crore in November. This information has been given in an official report. According to this report by the Ministry of Statistics and Program Implementation, out of 1,831 infrastructure projects with investment of Rs 150 crore and above under its supervision, 421 projects have cost overruns while 845 projects are delayed. According to the ministry’s latest monthly report, the total original cost of 1,831 projects under monitoring was Rs 25,10,577.59 crore but the estimated cost of their completion came to Rs 29,50,997.33 crore.
Thus, the total cost shows an increase of Rs 4,40,419.74 crore i.e. 17.54 percent. The report says that till November, 2023, the expenditure on these projects was Rs 15,58,038.07 crore, which is 52.80 percent of the estimated cost of the projects. However, the report said that if the delays are calculated based on the latest schedule of completion, the number of delayed projects reduces to 629. It said that for 308 projects, neither the year of approval nor the probable construction period has been informed. Of the 845 delayed projects, 204 are delayed by one to 12 months while 198 projects are delayed by 13-24 months.
While 322 projects are delayed by 25-60 months and 121 projects are delayed by more than five years. The time taken for 845 delayed projects has increased by an average of 36.64 months. According to the report, various implementing agencies have attributed the delay to delays in land acquisition, delays in obtaining forest and environment clearances and lack of infrastructure support.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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