The variety of delayed initiatives decreases to 568 if the delay is calculated on the idea of the most recent schedule of completion.
Out of 1,902 initiatives, 443 reported price overruns and 764 initiatives had been delayed
As many as 443 infrastructure initiatives, 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 said. Based on the Ministry of Statistics and Programme Implementation (MoSPI), which screens infrastructure initiatives value Rs 150 crore and above, out of 1,902 initiatives, 443 reported price overruns and 764 initiatives had been delayed.
“Whole authentic price of implementation of the 1,902 initiatives was Rs 27,08,030.44 crore, and their anticipated completion price is prone to be Rs 32,00,507.55 crore, which displays total price overruns of Rs 4,92,477.11 crore (18.19 per cent of authentic price),” the ministry’s newest report for February 2024 mentioned.
Based on the report, the expenditure incurred on these initiatives until February 2024 is Rs 16,76,739 crore, which is 52.39 per cent of the anticipated price of the initiatives.
Nevertheless, the variety of delayed initiatives decreases to 568 if the delay is calculated on the idea of the most recent schedule of completion, it added.
Additional, it mentioned that for 389 initiatives, neither the yr of commissioning nor the tentative gestation interval has been reported.
Out of the 764 delayed initiatives, 188 have total delays within the vary of 1-12 months, 185 have been delayed for 13-24 months, 275 initiatives for 25-60 months, and 116 initiatives have been delayed for greater than 60 months.
The common time overrun in these 764 delayed initiatives is 36.27 months.
Causes 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-wise lockdowns as a consequence of COVID-19 (imposed in 2020 and 2021) as a purpose for the delay within the implementation of those initiatives.
It has additionally been noticed that venture executing companies will not be reporting revised price estimates and commissioning schedules for a lot of initiatives, which suggests that point/price overrun figures are under-reported, it added.
(This story has not been edited by News18 employees and is revealed from a syndicated information company feed – PTI)
