As many as 428 infrastructure tasks, every entailing an funding of ₹150 crore or extra, have been hit by value overruns of greater than ₹4.98 lakh crore, as per a report.
In keeping with the Ministry of Statistics and Programme Implementation, which screens infrastructure tasks of ₹150 crore and above, out of 1,559 tasks, 428 tasks reported value overruns and as many as 647 tasks had been delayed.
“Complete unique value of implementation of the 1559 tasks was ₹21,73,907.11 crore and their anticipated completion value is prone to be ₹26,72,201.26 crore, which displays total value overruns of ₹4,98,294.15 crore (22.92 per cent of unique value),” the ministry’s newest report for April 2022 mentioned.
In keeping with the report, the expenditure incurred on these tasks until April 2022 was ₹13,50,610.98 crore, which was 50.54 per cent of their anticipated value. Nevertheless, the variety of delayed tasks decreases to 525 if the delay is calculated on the idea of the newest schedule of completion. Additional, for 619 tasks neither the yr of commissioning nor the tentative gestation interval has been reported.
Out of the 647 delayed tasks, 103 have total delays within the vary of 1-12 months, 111 have been delayed for 13-24 months, 314 tasks for 25-60 months and 119 tasks have been delayed for 61 months and above. The typical time overrun in these 647 delayed tasks was 42.83 months.
Causes for time overruns
Causes for time overruns as reported by varied undertaking implementing companies embrace delay in land acquisition, delay in acquiring forest and atmosphere clearances, and lack of infrastructure assist and linkages.
Delay in tie-up for undertaking financing, delay in finalisation of detailed engineering, change in scope, delay in tendering, ordering and gear provide, and legislation and order issues are among the many different causes.
The report additionally cited state-wise lockdowns as a result of Covid-19 as a purpose for the delay in implementation of those tasks. It has additionally been noticed that undertaking companies aren’t reporting revised value estimates and commissioning schedules for a lot of tasks, which suggests that point/value overrun figures are under-reported, it said.
June 19, 2022