344 projects reports cost overruns of Rs 3.16 lakh crore: Ministry of Statistics and Programme Implementation

Expenditure incurred on projects is 37.8% of the anticipated cost of the projects till December 2018

As per the latest flash report for December 2018 released by the Ministry of Statistics and Programme Implementation, there were 1424 Central Sector Infrastructure Projects costing 150 crore and above under implementation.

During December 2018, 22 projects (10 projects in Power, 4 projects from Railways, 3 projects are in Petroleum, 2 projects are in Road Transport and Highways, and 1 project each from Coal, Health and Family Welfare and Telecommunication sectors) have reported completion.

Out of the 1424 projects, 328 are on schedule, 384 are delayed, 69 projects have reported additional delays, 344 projects reported cost overrun and 132 projects reported both time and cost overrun with respect to their original project implementation schedules. However, the number of delayed projects decreases to 326 if delay is calculated on the basis of latest schedule of completion. Further, for 686 projects neither the year of commissioning nor the tentative gestation period has been reported.

Out of 384 delayed projects, 113 (29.42%) projects have overall delay in the range of 1 to 12 months, 61 (15.88%) projects have delay in the range of 13 to 24 months, 101 (26.30%) projects have delay in the range of 25 to 60 months and 109 (28.39%) projects have delay of 61 months and above. The average time overrun in these 384 delayed projects is 44.78 months.

Out of 1424 projects, 26 projects are ahead of schedule, 328 projects are on schedule 384 projects are delayed. 607 projects do not have fixed dates of commissioning. About 79 projects were sanctioned without any commissioning date but subsequently dates of completion were finalised.

Total original cost of implementation of 1424 projects when sanctioned, was of the order of Rs 1817469.76 crore but this was subsequently revised to Rs 2133649.81 crore implying a cost overrun of 17.4% or Rs 3.16 lakh crore . The expenditure incurred on these projects till December 2018 is Rs 806997.78 crore, which is 37.8% of the anticipated cost of the projects.

Powered by Capital Market - Live News