As many as 322 infrastructure projects worth Rs 150 crore or above each have seen cost overrun of Rs 1.71 lakh crore due to delays and other reasons by March 2017, according to a report.
“Total original cost of implementation of the 1,231 projects was Rs 15,59,571.06 crore and their anticipated completion cost is likely to be Rs 17,31,162.47 crore, which reflects overall cost overruns of Rs 1,71,591.41 crore (11 per cent of original cost),” a flash report by the Ministry of Statistics and Programme Implementation (MoSPI) said.
The flash report provides details on the status of the 1,231 central infrastructure projects that cost Rs 150 crore and above, the report said.
The flash report provides details on the status of the 1,231 central infrastructure projects that cost Rs 150 crore and above.
In March, 2017, out of 1,231 projects, nine were ahead of schedule, 324 were on schedule, 327 were delayed and 322 projects showed cost overrun.
The report said that 105 projects showed both time and cost overrun with respect to original implementation schedules. The number of delayed projects decreases to 233 if delay is calculated with reference to latest revised schedule of completion, the report said.
It stated that out of 327 delayed projects, 63 projects have overall delay in the range of 1 to 12 months, 67 projects have delay in the range of 13 to 24 months, 119 projects have delay in the range of 25 to 60 months and 78 projects have delay of 61 months and above.
The report stated that the expenditure incurred on these projects till March 2017 is Rs 7,46,480.94 crore, which is 43.12 per cent of the anticipated cost of the projects.
According to report, there were 311 projects showing time overrun of more than six months while 231 projects showing cost overruns of more than Rs 100 crore.
There were 76 projects showing both time overruns of more than six months and cost overruns of more than Rs 100 crore.