344 infra projects show cost overruns of Rs 3.16 lakh cr.

TIL Desk/Business/New Delhi/ As many as 344 infrastructure projects, each worth Rs 150 crore or more, have shown cost overruns to the tune of over Rs 3.16 lakh crore owing to delays and other reasons, a report said.

“Total original cost of implementation of the 1424 projects was Rs 18,17,469.76 crore and their anticipated completion cost is likely to be Rs 21,33,649.81 crore, which reflects overall cost overruns of Rs 3,16,180.05 crore (17.40% of original cost),” the Ministry of Statistics and Programme Implementation’s latest report for December 2018 said.

The ministry monitors infrastructure projects worth Rs 150 crore and above. Of these 1,424 projects, 344 reported cost overruns and 384 time escalation.

According to the report, the expenditure incurred on these projects till December 2018 was Rs 8,06,997.78 crore, which is 37.82 per cent of the anticipated cost of the projects.

However, it said the number of delayed projects decreases to 326 if delay is calculated on the basis of latest schedule of completion. For 686 projects, neither the year of commissioning nor the tentative gestation period has been reported.

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