More than 400 infrastructure projects have surpassed their estimated cost while another 578 projects have seen an average delay of 38.8 months, according to a PTI report quoting the Ministry of Statistics and Programme Implementation data.
According to PTI, a total of 1698 projects worth Rs 150 crore or more were analysed in the Ministry report out of which 400 are expected to incur cost an additional expenditure of Rs 4 lakh crore. Glitches related to land acquisition coupled with the delay in getting forest clearances are some of the major issues highlighted for the reported hike in the cost and timeline of the projects.
The original estimated expenditure of 1698 infrastructure projects across the country was Rs 20.4 lakh crore which has shot up to a whopping Rs 24.41 crore which is an increase of 19.63 per cent, the latest ministry report of November 2019 was quoted as saying. So far the government has spent Rs 10.5 lakh crore only which is 43.1 per cent of the anticipated costs of these projects.
Another 728 projects infrastructure projects have come under the radar of the report as neither the estimated timeline nor the commissioning date of these projects has been made public. The report also expressed concern over the under-reporting of revised cost estimates and stipulated timeline by many project agencies.