Govt shelling out Rs. 1.6 lakh-cr more for project delay

    Infrastructure Projects
    Due to dilly dallying attitude of the agencies concerned, the government has to shell out a whopping Rs. 1.6 lakh-cr more to execute 238 delayed infra projects, the Statistics Ministry said, adding that the main reasons for cost escalation included land acquisition, forest clearances and other reasons. In fact, the ministry is monitoring 1,071 infrastructure projects involving Rs. 150-cr investments each in sectors such as power, rail & road, and that in February, of the 1,071 projects, 238 reported cost overruns and 341 time delays. Total original cost of implementation of 1,071 projects was Rs. 12,66,248.36-cr and their anticipated completion cost is likely to be Rs. 14,26,985.93cr, which reflects overall cost overruns of Rs. 1,60,737.57-cr (12.69% of original cost). According to the data, expenditure incurred on these projects till February 2016, was Rs. 5,66,058.05cr, which is 39.67% of the anticipated cost of the projects. However, compared with April 2015, the number of projects reporting cost overruns came down to 22.22%in February 2016 from 30.47% of total monitored projects last year. Projects reporting time overruns fell to 31.84% in February this year from 42.61% in April 2015. In April 2015, of the 758 projects monitored by the ministry, 231 reported cost overruns and 323 time overruns.
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