India's infrastructure sector is grappling with massive delays, with 458 projects worth Rs 150 crore or more experiencing cost overruns of over Rs 5.71 lakh crore in May 2024.
Infrastructure ProjectsCost OverrunDelaysMinistry Of Statistics And Programme ImplementationMospiReal Estate NewsJun 23, 2024
458 projects worth Rs 150 crore or more have been hit by cost overruns of over Rs 5.71 lakh crore in May 2024.
The average time overrun in these 831 delayed projects is 35.1 months.
Reasons for time overrun, as reported by various project implementing agencies, include land acquisition, environmental clearance, financial issues, contractual/internal issues, manpower shortage, and litigation issues.
The total original cost of implementation of these 1,817 projects was Rs 27,58,567.23 crore.
The anticipated completion cost of these projects is likely to be Rs 33,29,647.99 crore, reflecting an overall cost overrun of over Rs 5,71,080.76 (20.70 per cent of original cost).
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