In August of this year, a report by the Ministry of Statistics and Programme Implementation unveiled the grim reality of India’s infrastructure projects. A staggering 412 initiatives, each requiring an investment of Rs 150 crore or more, are plagued by massive cost overruns exceeding Rs 4.77 lakh crore. The ministry is responsible for overseeing projects with budgets of Rs 150 crore and beyond.
Out of a total of 1,762 infrastructure projects scrutinized, a disconcerting 412 projects reported cost overruns, while an additional 830 projects suffered from significant delays. The original projected cost of executing all 1,762 projects amounted to Rs 25,01,400.62 crore. However, the anticipated completion cost has ballooned to approximately Rs 29,78,681.31 crore, resulting in an alarming overall cost overrun of Rs 4,77,280.69 crore, equivalent to a staggering 19.08% of the initial cost.
