346 infra projects show cost overruns of Rs 4.46 trillion, says report
As many as 346 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.46 lakh crore, as per an official report.
According to Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs 150 crore and above, out of 1,418 projects, 346 reported cost overruns and as many as 823 projects were delayed.
" Total original cost of implementation of the 1,418 projects was Rs 20,38,026.75 crore and their anticipated completion cost is likely to be Rs 24,84,846.99 crore, which reflects overall cost overruns of Rs 4,46,820.24 crore (21.92 per cent of original cost)," the ministry's latest report for February 2023 said.
According to the report, the expenditure incurred on these projects till February 2023 is Rs 13,62,707.98 crore, which is 54.84 per cent of the anticipated cost of the projects.
However, the number of delayed projects decreases to 643 if delay is calculated on the basi