"Basic reason for time overrun is because of land acquisition ....(and) cost overrun is due to time overrun," Statistics and Programme Implementation Minister Srikant Kumar Jena said during Question Hour.
He said during April-September 2011, 40 central sector infrastructure projects were completed. Cost of each of these projects was Rs 150 crore or more.
"The total original cost of these 40 projects was Rs 38,083.93 crore whereas the anticipated expenditure...On the date of completion was Rs 44,297.81 crore leading to a cost overrun of Rs 6,213.88 crore," he said.
He said the expenditure as reported by the project authorities on completion would get revised as and when the accounts are finalised.
To a query related to fixing accountability for delay in projects, Jena said it was an ongoing process and responsibilities are fixed.
He also said the concerned ministries, Prime Minister's Office and the office of Cabinet Secretary monitor implementation of projects on a regular basis.
As per the list provided by the minister on the 40 infrastructure projects, as many as 15 were completed with a delay of 30 months or more.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
