Hence, it is a welcome step that the government aims to be pragmatic enough to drop laggard projects out of this pipeline as it progresses.
Thackeray has demanded that since Maharashtra contributed nearly half the total tax revenues to the Central exchequer, the Centre should 'waive' off (the state's contribution) for two years
Govt said the reasons for cost overruns are project- specific, depend on a variety of technical, financial and administrative factors, and differ from project to project
The brief reasons for time overruns, as reported by various project implementing agencies, are delays in land acquisition, forest clearance and supply of equipment
Out of 550 delayed projects, 182 projects have overall delay in the range of 1 to 12 months
The average time overrun in these 496 delayed projects is 36.98 months
The task force, headed by the economic affairs secretary, will draw up a 'National Infrastructure Pipeline'
The FM also said an organisation would be set up to provide credit enhancement for infrastructure and housing projects, increasing the flow of funds to these
The report stated that the average time overrun in these 296 delayed projects is 48.39 months
Railways worst hit, with 203, or 60% of projects facing cost overruns; 33 projects facing time overruns
Out of the 1,174 projects being watched closely by the ministry, 333 of them have been delayed
During the month under review, of 339 projects, 122 are delayed with respect to the original schedule and 7 have reported additional delay