As many as 412 infra projects show cost overruns of ₹4.77 lakh crore in August: Report
The Hindu
The total original cost of implementation of the 1,762 projects was ₹25,01,400.62 crore and their anticipated completion cost is likely to be ₹29,78,681.31 crore, which reflects overall cost overruns of ₹4,77,280.69 crore (19.08% of original cost), the ministry’s latest report for August 2023 said.
As many as 412 infrastructure projects, each entailing an investment of ₹150 crore or more, have been hit by cost overruns of more than ₹4.77 lakh crore in August this year, an official report said.
According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth ₹150 crore and above, out of 1,762 projects, 412 reported cost overruns and as many as 830 projects were delayed.
"The total original cost of implementation of the 1,762 projects was ₹25,01,400.62 crore and their anticipated completion cost is likely to be ₹29,78,681.31 crore, which reflects overall cost overruns of ₹4,77,280.69 crore (19.08% of original cost)," the ministry's latest report for August 2023 said.
According to the report, the expenditure incurred on these projects till August 2023, is ₹15,57,188.10 crore, which is 52.28% of the anticipated cost of the projects.
However, it stated that the number of delayed projects decreased to 624, if delay is calculated on the basis of the latest schedule of completion.
Further, it stated that for 339 projects, neither the year of commissioning nor the tentative gestation period has been reported.
Out of the 830 delayed projects, 194 have overall delays in the range of 1-12 months, 190 have been delayed for 13-24 months, 323 projects for 25-60 months and 123 projects have been delayed for more than 60 months.
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