The Ministry of Statistics and Programme Implementation (MoSPI) has reported that 393 projects out of 1,643 incurred cost overruns, and approximately 815 projects were delayed in June 2023. The cost overruns of over Rs 4.64 lakh crore for these 393 infrastructure projects have been reported, each of which entailed an outlay of at least Rs 150 crore.

Initially, the entire cost of implementing the 1,643 projects was Rs 23,86,687.07 crore, and their anticipated completion cost is expected to be Rs 28,51,556.84 crore, highlighting overall cost overruns of Rs 4,64,869.77 crore (19.48 percent of original cost).

Till June 2023, the expenditure incurred on these projects was Rs 14,99,771.71 crore, 52.59 percent of the anticipated cost of the projects, as per the report.

Among these 815 delayed projects, about 193 show delays in the range of 1-12 months, 192 have been delayed for 13-24 months, 293 projects for 25-60 months, and 137 projects have been delayed for more than 60 months. The average time overrun in these delayed projects was 37.49 months.

The reasons for time overruns include delays in land acquisition, delays in obtaining forest and environment clearances, delays in tie-up for project financing, finalisation of detailed engineering, change in scope, and tendering were among others.