384 infra projects witness cost overrun till June 2022: MoSPI

The Ministry of Statistics & Programme Implementation (MoSPI) monitors infrastructure projects worth Rs.1.5 billion and above. Of the 1,514 such projects, 384 reported cost overrun of over Rs.4.6 trillion till June 2022. 713 projects reported time overrun. The MoSPI has attributed the time overrun to a host of issues including delay in land acquisition, forest or environment clearance, lack of infrastructure support and linkages, supply of equipment, fund constraints, geological surprises, change in scope, delay in tendering, shortage of labour, contractual issues, state-wise lockdown due to Covid-19, legal cases and law and order situation. Expenditure incurred on the 1,514 projects till June 2022 is around Rs.13.3 trillion, which is 51.4 per cent of the anticipated cost of the projects.

References
1. https://www.thehindubusinessline.com/news/384-infra-projects-show-cost-overruns-of-466-lakh-cr/article65706179.ece
2. https://economictimes.indiatimes.com/news/economy/infrastructure/384-infra-projects-show-cost-overruns-of-rs-4-66-lakh-cr/articleshow/93248323.cms