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Round 412 infrastructure tasks, every requiring an funding exceeding Rs 150 crore, skilled price overruns surpassing Rs 4.77 lakh crore in August this 12 months, information from the Ministry of Statistics and Programme Implementation revealed. The report from the ministry famous that out of 1,762 infrastructure tasks valued at Rs 150 crore or extra, 412 exceeded their budgets, and 830 skilled delays.
The preliminary price of those tasks was Rs 25,01,400.62 crore, however they’re now projected to price Rs 29,78,681.31 crore in whole, indicating a considerable price overrun of Rs 4,77,280.69 crore, equal to 19.08% of the unique estimate, reported PTI.
As per the report, the cumulative expenditure on these tasks till August 2023 amounted to Rs 15,57,188.10 crore, representing 52.28% of the anticipated venture prices. Apparently, when calculating delays primarily based on the newest completion schedule, the variety of tasks experiencing delays decreased to 624.
Furthermore, 339 tasks didn’t present info relating to their anticipated commissioning 12 months or the tentative gestation interval. Among the many 830 tasks going through delays, 194 skilled setbacks starting from 1 to 12 months, whereas 190 tasks had been postponed by 13 to 24 months. 323 tasks encountered delays spanning 25 to 60 months, whereas 123 tasks grappled with in depth delays exceeding 60 months. The collective common time overrun for these 830 delayed tasks stands at a considerable 36.96 months, highlighting the complexity of the challenges they face.
The reported causes for time overruns in these tasks included delays in land acquisition, environmental clearances, and lack of infrastructure help. Additional challenges in securing tie-ups for venture financing, finalising detailed engineering, scope modifications, tendering, ordering, and tools provide added to the delays. Moreover, legislation and order issues additionally prolonged the completion timelines.
Delays brought on by COVID-19-related state lockdowns in 2020 and 2021 additional added to the issues in venture implementation. The report famous that a number of venture execution companies didn’t present revised price estimates and commissioning schedules for a number of tasks, indicating that point and value overrun information may very well be underneath reported.
Primarily based on the ministry’s report for July 2023, about 388 infrastructure tasks had been affected by price overruns value over Rs 4.65 lakh crore within the month.
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