New Delhi : As many as 393 infrastructure projects , each entailing an investment of Rs 150 crore or more , have been hit by cost overruns of more than Rs 4.65 lakh crore , as per a report .
According to the Ministry of Statistics and Programme Implementation , which monitors infrastructure projects of Rs 150 crore and above , out of 1,526 projects , 393 reported cost overruns and as many as 647 projects were delayed .
” Total original cost of implementation of the 1526 projects was Rs 21,26,460.9 crore and their anticipated completion cost is likely to be Rs 25,91,823.5 crore , which reflects overall cost overruns of Rs 4,65,362.5 crore ( 21.9 % of original cost ) , ” the minis try’s latest report for August 2022 said .
According to the report , the expenditure incurred on these projects till August 2022 was Rs 13,60,645.9 crore , or 52.5 % of the anticipated cost of the projects . However , the number of delayed projects decreases to 500 if delay is calculated on the basis of latest schedule of completion .
Further , it showed that for 607 projects neither the year of commissioning nor the tentative gestation period has been reported .
Out of the 647 delayed projects , 132 have overall delays in the range of 1-12 months , 118 have been delayed for 13-24 months , 273 projects for 25-60 months and 124 projects have been delayed for 61 months and above .
The average time overrun
in these 647 delayed projects is 41.6 months .
Reasons for time over runs as reported by various project implementing agencies include delay in land acquisition , delay in obtaining forest and environment clearances , and lack of infrastructure support and linkages .
Delay in tie – up for project financing , finalisation of de tailed engineering , change in scope , tendering , ordering and equipment supply , and law and order problems are among the other reasons .
The report also cited state – wise lockdowns due to Covid – 19 as a reason for the delay in implementation of these projects . It has also been observed that project agencies are not reporting re vised cost estimates and commissioning schedules for many projects , which suggests that time / cost overrun figures are under – reported , it stated .