443 infra projects hits cost overruns of Rs 4.45 lakh crore: Report
A government report revealed that 443 infrastructure projects, with the cost of investment of over Rs 150 crore, have been hit by cost overruns totalling over Rs 4.45 lakh crore. The Ministry of Statistics and Programme Implementation (MOSPI) monitors infrastructure projects of Rs 150 crore and above.
As per the report, till January 2022, expenditure incurred on these projects stood at Rs 13,16,293.63 crore or 48.76 per cent of the estimated project cost. From 1,671 such projects, 514 projects were delayed, and 443 reported cost overruns.
However, the number of delayed projects reduces to 381, based on the latest completion schedule. Moreover, for 881 projects, neither the year of commissioning nor the tentative gestation period has been declared.
Out of the 514 delayed projects, 89 have a total delay of one to two months, 113 are delayed for 13-24 months, 204 for 25-60 months, and 108 projects have been delayed for over 61 months. Overall estimated time overrun in these 514 delayed projects is 46.23 months.
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