Concern over huge cost over-runs due to delay in projects

Serious concern was today voiced in Rajya Sabha over the delay in various projects in the country resulting in cost over-runs to the tune of over Rs one lakh crore and a demand was made for corrective measures to ensure they do not prove disastrous for economy.
Raising the issue during Zero Hour Rajeev Chandrasekhar (Ind) said 282 projects across the country have been delayed leading to losses to the tune of Rs one million 50 lakh to the state exchequer.
He said 42 per cent of the total project have been delayed and "this highlights a major problem in our system of governance."

He pointed out that in Railways, 60 per cent projects have been delayed resulting in 70 per cent cost overruns in power and highways sector.
Demanding efficient implementation process to be put in place to speed up projects, Chandrasekhar said, "Not doing so will prove disastrous for our country and the cost of this will have to be borne by the people of the country."
The independent member sought faster implementation of projects that will help life the country's economy from the sub-five per cent growth.
He said the new BJP-led dispensation came to power with the assurance of bringing about a change in the country and kindled a lot of hopes among the public and would take effective steps to speed up pending projects.

Chandrasekhar also cited the example of crude oil storage project in his state that was initiated in January 2006 and was to be completed by June 2011, but has seen a delay of four years and is now expected to be completed in June 2015.