The cost of 438 infrastructure projects is over Rs 4.34 lakh crore

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The cost of 438 infrastructure projects is over Rs 4.34 lakh crore

Hundreds of infrastructure projects have been hit by cost overruns

In the infrastructure sector, 438 projects worth a total of Rs 150 crore have been affected by a total expenditure of Rs 4.34 lakh crore.

Of the 1,680 such projects, 438 faced costs and 539 were delayed, according to the Infrastructure Projects Monitoring Report released by the Ministry of Statistics and Project Implementation (MOSPI) for October 2021.

The report pointed out that the main reasons for the delay in the projects were state-wise locks due to corona virus outbreak, delays in land acquisition and obtaining forest and environmental clearances.

“The total original expenditure for the implementation of 1,680 projects is Rs 21,74,182.86 crore and their expected completion cost is Rs 26,08,330.02 crore, bringing the total cost to Rs 4,34,147.16 crore (19.97 per original expenditure),” the report said.

The expenditure on these projects till October 2021 was Rs.12,64,545.31 crore. This is 48 per cent of the expected cost of the projects, the report said.

Apart from the delay in the completion of the projects, another interesting fact revealed by the report is that for 837 projects, neither the implemented anto nor the temporary gestation period was reported.

Of the 539 delayed projects, 98 projects have a delay of 1-12 months, 109 projects have a delay of 13-24 months, 211 projects have a delay of 25-60 months and 121 projects have a delay of 61 months and above.

The average duration of these 539 late plans was 47.16 months.

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