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450 infra projects report cost overrun of Rs 4.28 lakh cr
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SME Times News Bureau | 26 Jan, 2021
As many as 450 infrastructure projects have reported a cost overrun of
over Rs 4.28 lakh crore as of January 1, 2021, data from the Ministry of
Statistics and Programme Implementation showed.
According to the data, 558 out of 1,687 Central sector projects are delayed.
The
total original cost of implementation of the 1,687 projects was over Rs
21.44 lakh crore and their anticipated completion cost is likely to be
over Rs 25.72 lakh crore, which reflects overall cost overruns of Rs
4.28 lakh crore, 19.96 per cent of original cost.
Out of the
1,687 projects, only 11 projects are ahead of schedule, while 195 are on
schedule, 558 are delayed, 450 projects reported cost overrun and 221
projects reported both time and cost overrun with respect to their
original project implementation schedules.
However, the number of delayed projects decreases to 408 if delay is calculated on the basis of latest schedule of completion.
Further,
the ministry's report showed that for 923 projects neither the year of
commissioning nor the tentative gestation period has been reported.
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