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| March 31, 2024, 9:36 a.m.
Infrastructure Projects Face ₹4.92 Lakh Crore Cost Overrun, Report Reveals
The Ministry of Statistics and Programme Implementation's report revealed that 443 infrastructure projects, with investments of over ₹150 crore each, faced a cost overrun of ₹4.92 lakh crore in February 2024. Out of 1,902 projects, 443 reported cost overruns, and 764 experienced delays. The original cost of the projects was ₹27,08,030.44 crore, but the anticipated completion cost rose to ₹32,00,507.55 crore. Reasons for delays included land acquisition, clearance issues, and lack of infrastructure support. Covid-19 lockdowns also contributed to project delays. The report raised concerns about under-reporting of time/cost overrun figures by project executing agencies.
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