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462 infra projects report cost overrun of Rs 4.36 lakh cr
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SME Times News Bureau | 02 May, 2021
As many as 462 infrastructure projects reported a cost overrun of over Rs 4.36 lakh crore as of April 1, 2021.
The
Flash Report on Central sector projects for March published by the
Ministry of Statistics and Programme Implementation showed that 557
projects are running behind schedule.
"Out of the 1,737 projects,
13 projects are ahead of schedule, 229 are on schedule, 557 are
delayed, 462 projects reported cost overrun and 136 projects reported
both time and cost overrun with respect to their original project
implementation schedules," the report said.
It, however, said
that the number of delayed projects decreases to 412 if delay is
calculated on the basis of latest schedule of completion. Further, for
938 projects, neither the year of commissioning nor the tentative
gestation period has been reported.
"Total original cost of
implementation of the 1,737 projects was Rs 22,33,409.53 crore and their
anticipated completion cost is likely to be Rs 26,69,649.35 crore,
which reflects overall cost overruns of Rs 4,36,239.82 crore (19.53 per
cent of original cost)," it said.
The expenditure incurred on
these projects till March 2021 was Rs 13,06,617.54 crore, which is 48.94
per cent of the anticipated cost of the projects.
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