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Infra projects show cost overruns of Rs 4.98 lakh cr

Thursday, 23 Jun 2022

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As many as 428 infrastructure projects, each entailing an investment of Rs 150 crore or more, have shown a cost overrun of over Rs 4.98 lakh crore.

As per the Ministry of Statistics and Programme Implementation, out of 1,559 projects, 428 projects reported cost overruns, while 647 projects were delayed.

The total original cost of implementation of 1,559 projects was Rs 21,73,907.11 crore and their anticipated completion cost is likely to be Rs 26,72,201.26 crore.

The expenditure incurred on these projects till April 2022 was Rs 13,50,610.98 crore, which is 50.54 percent of their anticipated cost.

The projects have been delayed due to delay in land acquisition, delay in obtaining forest and environment clearances, and lack of infrastructure support and linkage.

Apart from this, delay in tie-up for project financing, delay in finalisation of detailed engineering, change in scope, delay in tendering, ordering and equipment supply, and law and order problems were among the other reasons.