As many as 428 infrastructure tasks, every entailing an funding of Rs 150 crore or extra, have been hit by price overruns of greater than Rs 4.98 lakh crore, as per a report.
In response to the Ministry of Statistics and Programme Implementation, which displays infrastructure tasks of Rs 150 crore and above, out of 1,559 tasks, 428 tasks reported price overruns and as many as 647 tasks have been delayed.
“Complete unique price of implementation of the 1559 tasks was Rs 21,73,907.11 crore and their anticipated completion price is more likely to be Rs 26,72,201.26 crore, which displays total price overruns of Rs 4,98,294.15 crore (22.92% of unique price),” the ministry’s newest report for April 2022 stated.
In response to the report, the expenditure incurred on these tasks until April 2022 was Rs 13,50,610.98 crore, which was 50.54 per cent of their anticipated price.
Nonetheless, the variety of delayed tasks decreases to 525 if the delay is calculated on the premise of newest schedule of completion.
Additional, for 619 tasks neither the 12 months 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 as reported by varied undertaking implementing businesses embody delay in land acquisition, delay in acquiring forest and surroundings 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 tools provide, and legislation and order issues are among the many different causes.
The report additionally cited state-wise lockdowns on account of COVID-19 as a motive for the delay in implementation of those tasks. It has additionally been noticed that undertaking businesses should not reporting revised price estimates and commissioning schedules for a lot of tasks, which suggests that point/price overrun figures are under-reported, it said