343 infra projects show cost overrun of Rs 2.92 lakh crore

As many as 343 central sector infrastructure projects worth Rs 150 crore and above reported a cost overrun of Rs 2.92 lakh crore as on May 1, 2018, Parliament was informed today.

Ministry of Statistics and Programme Implementation monitors current central sector infrastructure projects costing Rs 150 crore and above on time and cost overruns through its on-line computerised monitoring system (OCMS).

"As on May 1, 2018, a total of 1,332 projects with original completion cost of Rs 16,26,675.52 crore were on the monitor of this Ministry. Of these, 343 are showing cost overruns of Rs 2,92,096.99 crore (68.33 per cent) due to delay or other reasons," Minister of State for Statistics Vijay Goel said in a written reply to the Lok Sabha.

In another reply to the House, the minister said that of these 1,332 projects, 253 are showing time overruns, 343 are showing cost overruns and 107 projects are showing both time and cost overruns with respect to their original project implementation schedules.

The minister also said that the reasons for time and cost overruns are project specific and depend upon variety of technical, financial, administrative and other factors.

The major steps taken to expedite the completion of the ongoing central sector infrastructure projects include project appraisal by the respective ministries; OCMS; setting up of revised cost committees in the ministries for fixation of responsibility for time and cost overruns; regular review of infrastructure projects by the concerned administrative ministries; and setting up of central sector projects coordination committees (CSPCCs) in the concerned states under the chairmanship of chief secretaries for removal of bottlenecks and facilitating speedy implementation of major projects, the minister said.