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Infra projects see cost overrun of Rs 3.88 lakh crore

Monday, 11 Nov 2019
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As total of 355 infrastructure projects, each worth Rs 150 crore or more, have shown cost overruns to the tune of more than Rs 3.88 lakh crore, owing to delays and other reasons.

The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above, of which 1,623 projects, 355 reported cost overruns and 552 time escalation.

The total original cost of implementation of 1,623 projects was Rs 19,33,390.22 crore and their anticipated completion cost likely to be Rs 23,21,502.84 crore, which reflected an overall cost overruns of Rs 3,88,112.62 crore, a 20.07 percent over the original cost of the projects.

The expenditure incurred on these projects stood at Rs 9,47,571.45 crore till July 2019, which is 40.82 percent of the anticipated cost of the projects.

Moreover, for 670 projects neither the year of commissioning nor the tentative gestation period has been reported.

Of the 552 delayed projects, 187 projects have overall delay in the range of one to 12 months, 121 projects in the range 13 to 24 months, 132 projects reflect delay in the range of 25 to 60 months and 112 showcase delay of 61 months and above.

The main reason for time overruns are delays in land acquisition, forest clearance and supply of equipment. The other reasons are fund constraints, geological surprises, geo-mining conditions, slow progress in civil works, shortage of labour, inadequate mobilisation by the contractor, court cases, contractual issues, among others.

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