84 infra projects report cost overrun of Rs 1.14 lakh crore
NEW DELHI: As many as 84 infrastructure projects with a cost of Rs 150 crore or above each, including those delayed due to issues like fund constraints, have reported a cost overrun of Rs 1.14 lakh crore, Parliament was informed today.
“There are 84 projects showing cost overruns accompanied with delays with respect to their original schedules. The original cost of the 84 projects was Rs 1,12,623.98 crore and the anticipated cost is Rs 2,27,149.87 crore, implying a cost overrun of Rs 1,14,525.89 crore,” Statistics Minister D V Sadananda Gowda said in a written reply to the Lok Sabha today.
The Ministry of Statistics and Programme Implementation monitors ongoing central infrastructure projects costing Rs 150 crore and above on time and cost overruns through its online computerisation monitoring system (OCMS) on the basis of information provided by project implementation agencies.
According to the statement, as on September 30, 2016, 1,174 projects costing Rs 150 crore and above were on the watch of this ministry.
Of these 1,174 projects, 333 were delayed with respect to their original schedules. The reasons for delay are project-specific.
However, it said the major reported reasons for delay in timely completion of the projects are law and order problems, delay in land acquisition, environment and forest clearances, fund constraints, rehabilitation and resettlement issues, local body and municipal permission, utility shifting, contractual issues and the like.