As many as 431 infrastructure projects were hit by cost overruns of more than Rs 4.80 lakh crore in January 2024, an official report stated. Each project entails an investment of Rs 150 crore or above.
According to the Ministry of Statistics and Programme Implementation (MoSPI), out of 1,821 projects, 431 reported cost overruns, and 780 projects were delayed. MoSPI monitors infrastructure projects worth Rs 150 crore and above.
The total initial cost of implementation of the 1,821 projects was Rs 26,09,679.38 crore, and their expected completion cost is likely to be Rs 30,90,135.99 crore, the ministry’s latest report for January 2024 said. This reflects overall cost overruns of Rs 4,80,456.61 crore (18.41 per cent of the original cost).
