359 Infrastructure Projects Show Cost Overrun Of Rs 2.18 Lakh Crore
As many as 359 infrastructure projects, each worth Rs 150 crore and above, have shown cost overrun to the tune of Rs 2.18 lakh crore owing to delays and other reasons, a government report has said.
The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above.
“Total original cost of implementation of the 1,302 projects was Rs 16,20,089.45 crore and their anticipated completion cost is likely to be Rs 18,38,119.90 crore, which reflects overall cost overruns of Rs 2,18,030.45 crore (13.46 percent of original cost),” the ministry's latest flash report for December 2017 has stated.
Of these 1,302 projects in question, 359 reported cost overruns and 287 time escalation.
According to the report, the expenditure incurred on these projects till December 2017 stands at Rs 6,58,680.80 crore, which is 35.83 per cent of the anticipated cost of the projects.
“Out of a total of 1,302 projects, 4 projects have reported completion and 17 new projects have been initiated on the monitor of this ministry during the current month. Of these, 15 projects are ahead of schedule, 310 are on schedule, 287 are delayed, 359 projects are showing cost overruns and 104 projects are showing both time and cost overrun with respect to original implementation schedules,” the report said.
However, it said that the number of delayed projects decreases to 250 if delay is calculated with reference to latest revised schedules of completion.
For 690 projects, where original or anticipated commissioning date has not been reported, all concerned have been requested to provide the same so that these projects can be monitored for completion vis-a-vis the targeted dates.
It noted that out of 287 delayed projects, 53 projects have overall delay in the range of 1 to 12 months, 58 projects (13 to 24 months), 103 projects (25 to 60 months) and 73 projects (61 months and above).
The report attributes the time overrun to a host of issues, including delay in land acquisition, forest clearance, supply of equipment, funds constraints, Maoist incursion, legal cases and law and order situation.
Also Read: China-Backed AIIB Eyes $1 Billion Infrastructure Push in India
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
