New Delhi. In the infrastructure sector, the cost of 470 projects with an expenditure of Rs 150 crore or more has increased by more than Rs 4.37 lakh crore from the fixed estimate. The Ministry of Statistics and Program Implementation monitors infrastructure sector projects costing Rs 150 crore or more. The ministry’s August 2021 report states that out of 1,718 such projects, 470 have cost overruns, while 560 projects are running late.
The central government has blamed the delay for the increase in the cost of the projects. The ministry’s report said that the cost of implementation of these 1,718 projects was Rs 21,99,181.52 crore, which is expected to increase to Rs 26,36,710.50 crore. In other words, the cost of these projects has increased by 19.90 per cent i.e. Rs 4,37,528.98 crore. According to the report, Rs 12,52,298.40 crore has been spent on these projects till August 2021, which is 47.49 per cent of the total estimated cost.
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How late are infra projects running?
The ministry says that if we look at the recent timelines for completion of projects, then the number of delayed projects will come down to 373. However, the report did not give any information about the commissioning period of 871 projects. The report said that of the 560 delayed projects, 96 projects were delayed by one month to 12 months, 128 projects 13 to 24 months, 210 projects 25 to 60 months and 126 projects were delayed by 61 months or more. Huh. The average delay of these 560 projects is 46.94 months.
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Why are these projects running late?
Infrastructure projects are getting delayed due to delay in land acquisition, problems in getting clearances from Environment and Forest Department and lack of infrastructure. Apart from these, reasons like funding of the project, delay in implementation of detailed engineering, change in project prospects, delay in tender process, delay in award of contracts and procurement of equipment, legal and other problems, unexpected land changes are also responsible for delays. .
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Orignally published at Tailored Stash
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