Due to delays and various other reasons, 322 infrastructure projects are experiencing cost overrun of Rs 1.71 lakh crore. The projects are estimated to be of worth Rs 150 crore or above.
Currently, there are total 1,231 infrastructure projects worth of Rs 15,59,571.06 crore. Out of total projects, 322 projects have reported cost overrun.
As per the report of the Ministry of Statistics and Programme Implementation it is observed that the total original cost of implementation of the 1,231 projects was Rs 15,59,571.06 crore but their anticipated completion cost is likely to be Rs 17,31,162.47 crore. This shows that overall cost overruns of Rs 1,71,591.41 crore, which is 11 percent of original cost.
Out of the total 1,231 projects, 9 projects were ahead of schedule, while 324 were on schedule and 327 were delayed. Rest 322 projects are on cost overrun. However, as per the report, the status of 105 projects are showing both time and cost overrun with respect to original implementation schedules.
When delay is estimated with reference to the latest revised schedule of completion, then the number of delayed projects went down to 233. Within the range of 1 to 12 months, it stated that out of 327 delayed projects, 63 projects have overall delay, while 67 projects have delay in the range of 13 to 24 months.
Till March 2017, the expenditure acquired on these projects is of Rs 7,46,480.94 crore that is 43.12 per cent of the expected cost of the projects.
There were 311 projects that shows time overrun of more than 6 months while 231 projects have shown cost overruns of more than Rs 100 crore according to the report.