380 infra projects witness cost overrun till October 2022: MoSPI
The Ministry of Statistics & Programme Implementation (MoSPI) monitors infrastructure projects worth Rs.1.5 billion and above. Of the 1,521 such projects, 380 reported cost overrun of over Rs.4.6 trillion till October 2022. 642 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 1,521 projects till October 2022 is around Rs.13.9 trillion, which is 53.9 per cent of the anticipated cost of the projects.