412 infrastructure tasks present value overruns of Rs 4.11 lakh-crore

New Delhi, August 23

As many as 412 infrastructure tasks, every price a minimum of Rs 150 crore, have reported whole value overruns of over Rs 4.11 lakh crore, in accordance with knowledge from the Ministry of Statistics and Programme Implementation.

The knowledge confirmed that as of July 1, out of 1,683 central sector infrastructure tasks costing Rs 150 crore and above, 412 tasks reported value overruns whereas 471 have been delayed.

Only 9 of the entire tasks are forward of their schedule and 224 are on schedule. The report famous that 182 tasks reported each time and price overruns with respect to their authentic venture implementation schedules.

“Total original cost of implementation of the 1,683 projects was Rs 20,65,336.20 crore and their anticipated completion cost likely to be Rs 24,77,167.67 crore, which reflects overall cost overruns of Rs 4,11,831.47 crore (19.94 per cent of original cost). The expenditure incurred on these projects till June 2020 is Rs 11,21,435.29 crore, which is 45.27 per cent of the anticipated cost of the projects,” it stated.

The ‘Flash Report On Central Sector Projects’ famous that the variety of delayed tasks decreases to 418, if the delay is calculated on the idea of the newest schedule of completion. Further, for 979 tasks, neither the 12 months of commissioning nor the tentative gestation interval has been reported, it stated.

The common time overrun in these delayed tasks is 43.34 months, as per the report.

Various venture implementing businesses attributed time overruns in venture implementation to delays in land acquisition and atmosphere clearances, lack of infrastructure assist and linkages, delay in tie-ups for venture financing, finalisation of detailed engineering, adjustments in scope and delays in tendering amongst different elements.

The report stated that it has been noticed that venture businesses are usually not reporting revised value estimates and commissioning schedules for a lot of tasks, which suggests that point or value overrun figures are “underreported”. — IANS

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