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The cost of as many as 238 infrastructure projects, monitored by the Statistics Ministry, has overshot by ₹1.6-lakh crore from their original estimates due to delays in land acquisition, forest clearances and other reasons, official data showed.
The Statistics Ministry is monitoring 1,071 infrastructure projects worth ₹150 crore or more each in sectors such as power, rail and road.
In February, of the 1,071 projects, 238 reported cost overruns and 341, time delays.
“Total original cost of implementation of 1,071 projects was ₹12,66,248.36 crore and their anticipated completion cost is likely to be ₹14,26,985.93 crore, which reflects overall cost overruns of ₹1,60,737.57 crore (12.69 per cent of original cost),” the data by Statistics Ministry showed.
According to the data, expenditure incurred on these projects till February 2016 was ₹5,66,058.05 crore, which is 39.67 per cent of the anticipated cost of the projects.
However, compared with April 2015, the number of projects reporting cost overruns came down to 22.22 per cent in February 2016 from 30.47 per cent of total monitored projects last year. Projects reporting time overruns fell to 31.84 per cent in February this year from 42.61 per cent in April 2015.
In April 2015, of the 758 projects monitored by the Statistics Ministry, 231 reported cost overruns and 323 time overruns.
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