As many as 343 infrastructure tasks, every entailing an funding of Rs 150 crore or extra, have been hit by price overruns of greater than Rs 4.5 lakh crore, as per an official report.
In accordance with the Ministry of Statistics and Programme Implementation, which displays infrastructure tasks of Rs 150 crore and above, out of 1,438 tasks, 343 reported price overruns and as many as 835 tasks had been delayed.
“Whole unique price of implementation of the 1438 tasks was Rs 20,35,794.75 crore and their anticipated completion price is prone to be Rs 24,86,069.52 crore, which displays total price overruns of Rs 4,50,274.77 crore (22.12% of unique price),” the ministry’s newest report for December 2022 mentioned.
In accordance with the report, expenditure incurred on these tasks until December 2022 was Rs 13,45,794.16 crore, or 54.13 per cent of the anticipated price of the tasks.
Nonetheless, the variety of delayed tasks decreases to 673 if delay is calculated on the premise of the most recent schedule of completion.
Additional, it confirmed that for 342 tasks neither the yr of commissioning nor the tentative gestation interval has been reported
Out of the 835 delayed tasks, 160 have total delays within the vary of 1-12 months, 134 have been delayed for 13-24 months, 411 tasks for 25-60 months and 130 tasks have been delayed for 61 months and above.
The typical time overrun in these 835 delayed tasks is 40.5 months.
Causes for time overruns as reported by varied challenge implementing businesses embody delay in land acquisition, delay in acquiring forest and surroundings clearances, and lack of infrastructure assist and linkages.
Delay in tie-up for challenge financing, finalisation of detailed engineering, change in scope, tendering, ordering and gear provide, and legislation and order issues had been among the many different causes.
The report additionally cited state-wise lockdowns as a consequence of COVID-19 (imposed in 2020 and 2021) as a motive for the delay in implementation of those tasks.
It has additionally been noticed that challenge businesses should not reporting revised price estimates and commissioning schedules for a lot of tasks, which suggests that point/price overrun figures are under-reported, it added.
(Solely the headline and film of this report could have been reworked by the Enterprise Normal workers; the remainder of the content material is auto-generated from a syndicated feed.)