According to the Ministry of Statistics and Programme Implementation’s June 2022 report, cost overruns of more than Rs 4.66 lakh crore have affected as many as 384 infrastructure projects, each requiring an expenditure of at least Rs 150 crore. 384 projects out of 1,514 reported cost overruns, while up to 713 projects were delayed. The 1,514 projects’ estimated completion cost is projected to be Rs 25,87,946.13 crore, which represents overall cost overruns of Rs 4,66,474.34 crore. The total original cost of execution of the 1,514 projects was Rs 21,21,471.79 crore (21.99 per cent of original cost).
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Note: The above-mentioned news was first published by us in our ProjectX India | 1st August 2022 edition. Click here to buy this issue. Access Infrastructure news, projects, tenders, and contract award information in each fortnightly issue of ProjectX India PDF version. Go for an annual subscription and get access to 24 issues in a year.