New Delhi: At least 448 infrastructure projects, each involving an investment of Rs 150 crore or more, had their cost overrun by more than Rs 5.55 lakh crore in April 2024, according to an official report.
According to the Ministry of Statistics and Program Implementation (MoSPI), which monitors infrastructure projects worth Rs 150 crore and above, out of 1,838 projects, 448 had cost overruns and 792 projects were delayed.
The total original cost of implementation of 1,838 projects was Rs 27,64,246.50 crore, and their estimated completion cost is likely to be Rs 33,19,601.84 crore, representing an overall cost overrun of more than Rs 5,55,355.34 (20.09 per cent of the original) . Cost), the ministry's latest report for April 2024 revealed.
According to the report, till April 2024, Rs 1,692,997.5 crore has been spent on these projects, which is 51 percent of the estimated cost of the projects.
However, if the delays are calculated based on the latest schedule of completion, the number of delayed projects has come down to 514.
Of the 792 delayed projects, 220 have a total delay of 1-12 months, 192 have a delay of 13-24 months, 259 projects have a delay of 25-60 months, and 121 projects have a delay of more than 60 months.
The average time overrun in these 792 delayed projects is 35.4 months.
The reasons for time overrun cited by various project implementing agencies include land acquisition, environment clearance, financial issues, contractual/ internal issues, shortage of manpower and litigation issues.
According to the Ministry of Statistics and Program Implementation (MoSPI), which monitors infrastructure projects worth Rs 150 crore and above, out of 1,838 projects, 448 had cost overruns and 792 projects were delayed.
The total original cost of implementation of 1,838 projects was Rs 27,64,246.50 crore, and their estimated completion cost is likely to be Rs 33,19,601.84 crore, representing an overall cost overrun of more than Rs 5,55,355.34 (20.09 per cent of the original) . Cost), the ministry's latest report for April 2024 revealed.
According to the report, till April 2024, Rs 1,692,997.5 crore has been spent on these projects, which is 51 percent of the estimated cost of the projects.
However, if the delays are calculated based on the latest schedule of completion, the number of delayed projects has come down to 514.
Of the 792 delayed projects, 220 have a total delay of 1-12 months, 192 have a delay of 13-24 months, 259 projects have a delay of 25-60 months, and 121 projects have a delay of more than 60 months.
The average time overrun in these 792 delayed projects is 35.4 months.
The reasons for time overrun cited by various project implementing agencies include land acquisition, environment clearance, financial issues, contractual/ internal issues, shortage of manpower and litigation issues.
