TIDBITS

Cost overrun of Rs 1.59 lakh crores hit 241 infra projects

By IndianMandarins- 28 Jul 2016
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cost-overrun-of-rs-1-59-lakh-crores-hit-241-infra-projectsAs many as 241 infrastructure projects including those delayed due to land acquisition, forest clearances and other reasons, have led to a cost overrun of Rs 1.59 lakh crore, according to official data. This is the finding of the Statistics Ministry that monitored 1,076 infrastructure projects, each worth Rs 150 crore or more across sectors such as power, railways and roads in May, 2016. The Ministry said in a report that out of the 1,076 projects, four projects are ahead of schedule, 252 are on schedule, 330 are delayed, 241 projects reported cost overrun and 70 projects reported both time and cost overrun with respect to their original project implementation schedules. "The total original cost of implementation of the 1,076 projects was Rs 12,69,688.04 crore and their anticipated completion cost is likely to be Rs 14,28,703.39 crore, " said the project monitoring report.

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