Hundreds of roads in the country, Big infrastructure projects including bridges, tunnels are going on. The budget of these projects is in crores of rupees. But due to non-completion of these projects on time, the burden on the government treasury is increasing rapidly. Let us tell you that the government informed that the cost of 448 infrastructure projects with investment of Rs 150 crore or more has increased by more than Rs 5.55 lakh crore during October-December 2023.
Projects worth Rs 150 crore or more included
In respect of central sector projects (costing Rs 150 crore and above), the Quarterly Project Implementation Status Report (QPISR) for the third quarter of 2023-24 provides detailed information on 1,897 projects. QPISR is prepared by the Ministry of Statistics and Program Implementation. An official report said 448 projects out of 1,897 projects had cost overruns of Rs 5,55,352.41 crore, which is 65.2 per cent of their sanctioned cost.
Due to this the cost increased
Experts say that the biggest reason for the increase in the cost of infra projects is that the work on that project is stuck and is not completed on time. Therefore the costs are increasing. According to the report, the cost of 292 projects has increased by Rs 2,89,699.46 crore as compared to the latest approved cost. Further, both time and cost overruns have occurred in respect of 276 projects. Of the total 1,897 projects, 56 projects are ahead of schedule, 632 projects are on schedule and 902 projects are delayed. The remaining projects have either been completed or information regarding them is not available.
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