384 infrastructure projects suffer cost overrun of Rs 4.66 l cr in March quarter
- IBJ Bureau
- May 29, 2023
Some 384 infrastructure projects were hit by cost overruns in the January-March quarter, while their individual estimated cost was hovering around Rs 150 crore.
According to the Ministry of Statistics and Programme Implementation, 384 of the total 1,566 projects had been hit by cost overruns and as many as 931 projects had been hanging fire, reported the PTI on Sunday. The Ministry of Statistics and Programme Implementation is assigned to monitor infrastructure projects worth Rs 150 crore and above.
According to a quarterly report for January-March 2023 prepared by the ministry, 384 projects out of 1,566 projects had cost overruns to the tune of Rs 4,66,874.46 crore, which is 21.59 per cent of their sanctioned cost. It is anticipated that the cost of the completion of these 1,566 projects will be pegged at Rs 26,29,193.77 crore.
The Quarterly Project Implementation Status Report (QPISR) on Central Sector Projects – that cost Rs 150 crore and above – for the fourth quarter of 2022-23 (January-March 2023), gives detailed information on 1,566 projects, which cover 443 mega projects (each costing Rs 1,000 crore and above) and 1,123 major projects (each costing Rs 150 crore and above but below Rs 1,000 crore), reported the PTI.