The May-2021 report of the Ministry of Statistics and Program Implementation states that out of 1,768 such projects, 478 have cost overruns, while 525 projects are running late.
infrastructure projects
In the infrastructure sector, the cost of 478 projects with an expenditure of Rs 150 crore or more has increased by more than Rs 4.4 lakh crore from the estimated estimate. This information has been found in a report. The cost of these projects has increased due to delays and other reasons. The Ministry of Statistics and Program Implementation monitors the infrastructure sector projects costing Rs 150 crore or more. The ministry’s May-2021 report states that out of 1,768 such projects, 478 have cost overruns, while 525 projects are running late.
The original cost of implementation of these 1,768 projects was Rs 22,86,955.18 crore, which is expected to increase to Rs 27,27,220.47 crore, the report said. This shows that the cost of these projects has increased by 19.25 percent or Rs 4,40,265.29 crore. According to the report, Rs 13,30,533.53 crore has been spent on these projects till May-2021, which is 48.79 percent of the total estimated cost.
The number of delayed projects has come down
However, the ministry says that if we look at the recent timelines for completion of projects, the number of delayed projects will come down to 387. The report does not give information about the year of commissioning of 995 projects. The report said that of the 525 delayed projects, 100 projects were delayed by one month to 12 months, 124 projects with a delay of 13 to 24 months, 182 projects of 25 to 60 months and 119 projects with delays of 61 months or more. .
The average delay of these 525 projects is 46.36 months. The reasons for the delay in these projects are delay in land acquisition, delay in getting clearances of Environment and Forest Department and lack of infrastructure. Apart from these, factors like funding of the project, delay in the implementation of detailed engineering, change in the prospects of the projects, delay in the tender process, delay in award of contracts and procurement of equipment, legal and other problems, unforeseen land change etc. are responsible for.
read this also- If you are going to invest in Mutual Fund, then know these important things, you will get strong returns
(language)
.
