As many as 388 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns of more than Rs 4 lakh crore owing to delays and other reasons, according to a report.
The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above. Of such 1,636 projects, 388 projects reported cost overruns and 563 projects time escalation.
“Total original cost of implementation of the 1,636 projects was Rs 19,52,524.85 crore and their anticipated completion cost is likely to be Rs 23,53,108.80 crore, which reflects overall cost overruns of 4,00,583.95 crore (20.52% of original cost),” the ministry’s latest report for October 2019 said.
