Economy

About 373 infrastructure projects show cost overruns of ₹3.89 lakh cr: Report

PTI New Delhi | Updated on December 08, 2019 Published on December 08, 2019

As many as 373 infrastructure projects, each worth ₹150 crore or more, are hit by cost overruns of over ₹3.89 lakh crore owing to delays and other reasons, according to a report by the Ministry of Statistics and Programme Implementation.

The Ministry monitors infrastructure projects worth ₹150 crore and above.

Of such 1,634 projects, 373 projects reported cost overruns and 552 projects time escalation. “The total original cost of implementation of the 1,634 projects was ₹19,40,699.03 crore and their anticipated completion cost is likely to be ₹23,29,746.02 crore, which reflects overall cost overruns of ₹3,89,046.99 crore (20.05 per cent of original cost),” said the ministry’s latest report for August 2019.

According to the report, the expenditure incurred on these projects till August 2019 is ₹9,75,180.06 crore, which is 41.85 per cent of the anticipated cost of the projects.

However, it said, the number of delayed projects decreased to 489 if the delay is calculated on the basis of latest schedule of completion. Further, it said that for 687 projects neither the year of commissioning nor the tentative gestation period has been reported

Published on December 08, 2019
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