379 infra projects show cost overruns of Rs 4.64 lakh crore in April


NEW DELHI: Up to 379 infrastructure projectseach requiring an investment of 150 billion
According to the Department of Statistics and Program Implementation, which oversees 1,605 infrastructure projects worth 150 crore and up projects379 reported cost overruns and up to 800 projects were delayed.
“The total initial cost of implementing the 1,605 projects was Rs percent of the original cost). said the ministry’s latest report for April 2023.
According to the report, the expenditure The costs incurred for these projects up to April 2023 amounted to Rs.
However, it said the number of delayed projects dropped to 598 if the delay was calculated based on the latest completion schedule.
In addition, it said that for 413 projects, neither the year of commissioning nor the preliminary development time were given.
Of the 800 delayed projects, 194 had overall delays in the range of 1-12 months, 175 had delays of 13-24 months, 306 had delays of 25-60 months and 125 had delays of more than 60 months .
The average timeout for these 800 delayed projects was 37.07 months.
Reasons for timeouts reported by various project implementation agencies include delays in land acquisition, delays in obtaining forest and environmental permits, and lack of infrastructure support and connectivity.
Other reasons included delays in project funding, completion of detailed design, changes in scope, bidding, ordering and equipment delivery, and legislative and regulatory issues.
The report also cited nationwide lockdowns due to COVID-19 (imposed in 2020 and 2021) as a reason for the delay in implementing these projects.
It has also been observed that promoters are not reporting revised cost estimates and commissioning plans for many projects, suggesting that the time/cost overrun figures are underreported, she added.

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