New Delhi: The cost of 458 infrastructure projects involving an investment of Rs 150 crore or more rose by more than Rs 5.71 lakh crore in May this year, 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 1,817 projects, 458 had cost overruns and 831 projects were delayed.
The total original cost of implementation of 1,817 projects was Rs 27,58,567.23 crore, and their estimated completion cost is likely to be Rs 33,29,647.99 crore, representing an overall cost overrun of more than Rs 5,71,080.76 (20.70 per cent of the original cost). Is. ), for May 2024, the ministry's latest report revealed.
According to the report, till May 2024, Rs 1,707,190.15 crore has been spent on these projects, which is 51.3 percent of the estimated cost of the projects.
However, the number of delayed projects reduced to 554, provided the delays are calculated based on the latest schedule of completion.
Of the 831 delayed projects, 245 have a total delay of 1-12 months, 188 have a delay of 13-24 months, 271 projects have a delay of 25-60 months, and 127 projects have a delay of more than 60 months.
The average time overrun in these 831 delayed projects is 35.1 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 1,817 projects, 458 had cost overruns and 831 projects were delayed.
The total original cost of implementation of 1,817 projects was Rs 27,58,567.23 crore, and their estimated completion cost is likely to be Rs 33,29,647.99 crore, representing an overall cost overrun of more than Rs 5,71,080.76 (20.70 per cent of the original cost). Is. ), for May 2024, the ministry's latest report revealed.
According to the report, till May 2024, Rs 1,707,190.15 crore has been spent on these projects, which is 51.3 percent of the estimated cost of the projects.
However, the number of delayed projects reduced to 554, provided the delays are calculated based on the latest schedule of completion.
Of the 831 delayed projects, 245 have a total delay of 1-12 months, 188 have a delay of 13-24 months, 271 projects have a delay of 25-60 months, and 127 projects have a delay of more than 60 months.
The average time overrun in these 831 delayed projects is 35.1 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.