343 infra projects show cost overruns of Rs 4.5 lakh crore
NEW DELHI: Procedural delay and other bottlenecks have led to Rs 4.5 lakh crore worth of cost overrun in as many as 343 infrastructure projects, each entailing an investment of Rs 150 crore or more, says the latest report from the Ministry of Statistics and Programme Implementation.
“Also, out of a total of 1,438 projects in 2022, 835 projects were delayed,” the December 2022 report said.
Reasons for time overruns as reported by various project implementing agencies include delay in land acquisition, delay in obtaining forest and environment clearances, and lack of infrastructure support and linkages.
Delay in tie-up for project financing, finalisation of detailed engineering, change in scope, tendering, ordering and equipment supply, and law and order problems were among the other reasons.
The report also cited state-wise lockdowns due to COVID-19 (imposed in 2020 and 2021) as a reason for the delay in the implementation of these projects.