384 infrastructure projects have RS4.66 trillion cost overruns

1 Aug 2022 , 08:11 AM

Cost overruns of more than Rs4.66 lakh crore have affected 384 infrastructure projects, each requiring an expenditure of at least Rs150 crore. Out of 1,514 projects, 384 reported cost overruns, and as many as 713 projects were delayed, according to the Ministry of Statistics and Programme Implementation, which oversees infrastructure projects costing Rs150 crore and above.

Earlier in June 2022, the ministry reported that the original cost of implementation of the 1,514 projects was Rs 21,21,471.79 crore, while the estimated completion cost was Rs 25,87,946.13 crore, reflecting an overall overrun of Rs 4,66,474.34 crore (21.99% of original cost).

The study states that the amount spent on these projects up till June 2022 was Rs 13,30,885.21 crore or 51.43 percent of the project’s estimated cost. If the delay is estimated using the most recent completion timetable, the number of delayed projects reduces to 552. Additionally, research revealed that neither the preliminary gestation length nor the commissioning year had been disclosed for 523 projects.