LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

362 infra projects show cost overruns of over Rs 3.39 lakh crore

The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
362 infra projects show cost overruns of over Rs 3.39 lakh crore
The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above, Representational Image, Source: DNA
Written By: PTI
Updated: Sun, Dec 02, 2018
01:44 pm
New Delhi, PTI
RELATED NEWS
India may seek over Rs 49,000 crore in extra spending to spur growth India may seek over Rs 49,000 crore in extra spending to spur growth

As many as 362 infrastructure projects, each worth Rs 150 crore or above, have shown cost overruns to the tune of over Rs 3.39 lakh crore owing to delays and other reasons, a report said.

The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above.

"Total original cost of implementation of the 1417 projects was Rs 17,38,095.86 crore and their anticipated completion cost is likely to be Rs 20,77,898.81 crore, which reflects overall cost overruns of Rs 3,39,802.95 crore (19.55% of original cost)," the ministry's latest report for August 2018 said.

Of these 1,417 projects, 362 reported cost overruns and 317 time escalation.

According to the report, the expenditure incurred on these projects till August 2018 is Rs 7,76,351.56 crore, which is 37.36 per cent of the anticipated cost of the projects.

However, it said the number of delayed projects decreases to 249 if delay is calculated on the basis of latest schedule of completion.

For 694 projects, neither the year of commissioning nor the tentative gestation period has been reported. Out of 317 delayed projects, 86 projects have overall delay in the range of 1-12 months, 55 projects have 13-24 months, 87 projects reflect delay of 25-60 months and 89 projects show 61 months and above delay.

It also said that the average time overrun in these 317 delayed projects is 46.72 months.

The brief reasons for time overruns as reported by various project implementing agencies are delay in land acquisition, forest clearance and supply of equipment.

Watch Zee Business Tweet video here:

अहमदाबाद के फाइव स्टार से लेकर थ्री स्टार होटल में क्यों नहीं हो रही है ऑनलाइन बुकिंग?जानने के लिए देखिए ये रिपोर्ट।@KetanZeebiz pic.twitter.com/4uCrIDhKJ1

— Zee Business (@ZeeBusiness) December 1, 2018

Besides, there are other reasons like fund constraints, geological surprises, geo-mining conditions, slow progress in civil works, shortage of labour, inadequate mobilisation by the contractor, Maoist problems, court cases, contractual issues, ROU/ROW (right of use/right of way) problems, law and order situation, among others.

It also observed that project agencies are not reporting revised cost estimates and commissioning schedules for many projects, which suggests that time/cost overrun figures are under-reported.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
India Infrastructure DevelopmentMinistry of Statistics and Programme Implementation (MOSPI)
RELATED NEWS
India may seek over Rs 49,000 crore in extra spending to spur growth India may seek over Rs 49,000 crore in extra spending to spur growth

LATEST NEWS

Covid 19 2nd phase vaccination drive from March 1: EXPLAINED! Who are eligible, required photo identity, advance self-registration—All you need to Know

7th Pay Commission Latest News: Check out these vacancies notified by UPSC; salary up to Rs 1,77,500 plus DA and other allowances

ISRO First Mission in 2021: Indian rocket to launch Brazilian satellite, PM Modi picture on spacecraft, space privatisation and more

Oil drops on dollar strength and OPEC+ supply expectations

Stock Market Outlook: Nifty, Bank Nifty crucial levels REVEALED; Anil Singhvi explains key reasons behind massive fall

Pensioners ALERT: RUSH! Last date to submit digital life certificate tomorrow—Avail doorstep service from SBI, PNB, BoB and other banks

Bank Holidays March 2021: RBI says banks will remain closed on these many days next month

Indian economy 2021: With 0.4% GDP growth in 3rd quarter, country out of technical recession

Sovereign Gold Bond Scheme 2021: Issue Price fixed at Rs 4,662/gm

IIT Bombay releases GATE 2021 answer key—This is how you can check and raise objection

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved