438 Infrastructure Projects Face Cost Overruns Worth Rs 4.34 Lakh Crores

A complete of 438 initiatives within the infrastructure sector, price greater than Rs 150 crore have been affected by price overruns totalling Rs 4.34 lakh crores.According to a report on infrastructure initiatives monitoring, launched by the ministry of statistics and programme implementation (MOSPI) for the month of October 2021, out of the 1,680 such initiatives, 438 confronted price overruns whereas 539 had been delayed.The report pointed that the primary causes behind the delay in initiatives ranged from state-wise lockdowns attributable to Coronavirus pandemic, delay land acquisition and acquiring forest and atmosphere clearances."Total original cost of implementation of the 1,680 projects was Rs 21,74,182.86 crore and their anticipated completion cost is likely to be Rs 26,08,330.02 crore, which reflects overall cost overruns of Rs 4,34,147.16 crore (19.97 per cent of original cost)," the report mentioned.It additional famous that the expenditure on these initiatives incurred until October 2021 was Rs 12,64,545.31 crore. This, the report mentioned, was 48 per cent of the anticipated price of the initiatives.Apart from delay in initiatives' completion, one other attention-grabbing reality which the report introduced out was that for 837 initiatives, neither the 12 months of commissioning nor the tentative gestation interval has been reported.Out of the 539 delayed initiatives, 98 have total delay within the vary of 1-12 months, 109 have been delayed for 13-24 months, 211 for 25-60 months and 121 initiatives have delays of 61 months and above.The common time overrun in these 539 delayed initiatives is 47.16 months.