The quantity of delayed tasks decreases to 568 if the delay is calculated on the premise of the newest schedule of completion.
Out of 1,902 tasks, 443 reported value overruns and 764 tasks had been delayed
As many as 443 infrastructure tasks, every entailing an funding of Rs 150 crore or above, had been hit by a value overrun of greater than Rs 4.92 lakh crore in February 2024, an official report acknowledged. According to the Ministry of Statistics and Programme Implementation (MoSPI), which displays infrastructure tasks value Rs 150 crore and above, out of 1,902 tasks, 443 reported value overruns and 764 tasks had been delayed.
“Total original cost of implementation of the 1,902 projects was Rs 27,08,030.44 crore, and their anticipated completion cost is likely to be Rs 32,00,507.55 crore, which reflects overall cost overruns of Rs 4,92,477.11 crore (18.19 per cent of original cost),” the ministry’s newest report for February 2024 stated.
According to the report, the expenditure incurred on these tasks until February 2024 is Rs 16,76,739 crore, which is 52.39 per cent of the anticipated value of the tasks.
However, the quantity of delayed tasks decreases to 568 if the delay is calculated on the premise of the newest schedule of completion, it added.
Further, it stated that for 389 tasks, neither the 12 months of commissioning nor the tentative gestation interval has been reported.
Out of the 764 delayed tasks, 188 have general delays in the vary of 1-12 months, 185 have been delayed for 13-24 months, 275 tasks for 25-60 months, and 116 tasks have been delayed for greater than 60 months.
The common time overrun in these 764 delayed tasks is 36.27 months.
Reasons for time overrun, as reported by varied venture implementing companies, embody delay in land acquisition, acquiring forest and setting clearances, and lack of infrastructure assist and linkages.
Delays in tie-up for venture financing, finalisation of detailed engineering, change in scope, tendering, ordering and gear provide, and regulation and order issues are amongst different causes.
The report additionally cited state-smart lockdowns attributable to COVID-19 (imposed in 2020 and 2021) as a motive for the delay in the implementation of these tasks.
It has additionally been noticed that venture executing companies usually are not reporting revised value estimates and commissioning schedules for a lot of tasks, which suggests that point/value overrun figures are underneath-reported, it added.
(This story has not been edited by News18 employees and is printed from a syndicated information company feed – PTI)
