As many as 369 infrastructure projects of the total 1,420 under implementation are facing cost overruns, while another 366 are significantly delayed, according to a report.
The report “Infrastructure & Real Estate: A fulcrum for Change & Economic Growth” by Property consultant ANAROCK and Association of Infrastructure Industry (India) said the government should accord high priority to the infra sector.
It said India’s vision to enter the $ 5 trillion club economy by 2025 depends on the development of infrastructure and real estate that contribute 29.5 per cent to the GDP.
“The sheer impact of challenges faced by the infrastructure projects is visible from these statistics – of the total 1,420 projects under implementation, 369 projects are facing time overruns to the tune of Rs 3.38 trillion of cost overrun and an average time of 46 months for 366 delayed projects,” the report said.
