As many as 449 infrastructure tasks, every value Rs 150 crore or extra, have been hit by price overruns totalling greater than Rs 4.29 lakh crore, in accordance with a report.
The Ministry of Statistics and Programme Implementation screens infrastructure tasks value Rs 150 crore and above.
Of the 1,736 such tasks, 449 reported price overruns and 547 had been delayed.
“Total original cost of implementation of the 1,736 projects was Rs 22,32,019.72 crore and their anticipated completion cost is likely to be Rs 26,61,205.74 crore,” the ministry’s newest report for February 2021 mentioned.
According to the report, the associated fee overrun for finishing these 449 tasks works out to be Rs 4,29,186.02 crore.
The expenditure incurred on these tasks until February 2021 is Rs 12,78,270.71 crore, which is 48.03 % of the anticipated price of the tasks.
However, the report mentioned the number of delayed tasks decreases to 409 if delay is calculated on the idea of newest schedule of completion.
Further, for 930 tasks neither the 12 months of commissioning nor the tentative gestation interval has been reported.
Out of 547 delayed tasks, 109 tasks have general delay within the vary of 1-12 months, 132 tasks have delay of 13-24 months, 187 tasks replicate delay within the vary of 25-60 months and 119 tasks present delays of 61 months and above.
The common time overrun in these 547 delayed tasks is 44.59 months.
Reasons for time overruns as reported by varied challenge implementing businesses embrace delay in land acquisition, delay in acquiring forest and surroundings clearances, and lack of infrastructure help and linkages.
Delay in tie-up for challenge financing, delay in finalisation of detailed engineering, change in scope, delay in tendering, ordering and gear provide, and legislation and order issues, amongst others, are the opposite causes, the report mentioned.
The report additionally cited ‘state-wise lockdown as a result of COVID-19’ as a purpose for the delay in implementation of those tasks.
It has additionally been noticed that challenge businesses are usually not reporting revised price estimates and commissioning schedules for a lot of tasks, which suggests that point/price overrun figures are underreported, it added.
