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The government continues to focus on infrastructure and emphasis is being laid on completing projects on time. Even then, the cost of about 450 projects has increased tremendously due to delays.
Projects costing more than 150 crores
A report by news agency PTI has cited official figures to explain the delayed projects and their impact. According to the report, government figures show that as of April 2024, 448 infrastructure projects in the country are delayed and their cost has increased. These are projects whose cost is Rs 150 crore or more.
The Ministry of Statistics monitors
The Ministry of Statistics and Program Implementation monitors infrastructure projects costing Rs 150 crore or more. After that, the ministry issues a report about the delayed projects and tells how much the cost has increased due to them.
In fact, infrastructure sector projects are sensitive to the prices of cement, sand and rebar etc. The prices of all these raw materials keep fluctuating.
Nearly 800 projects got delayed
According to the report, as per the data till April 2024, out of 1,838 projects costing Rs 150 crore or more, 792 projects are delayed. Due to the delay, the cost of 448 of those projects has increased. According to the ministry’s data, the cost has increased by more than Rs 5.55 lakh crore due to the delayed projects.
Cost increased by more than 20 percent
According to the ministry, the original cost of the 1,838 projects under monitoring was Rs 27,64,246.50 crore. However, now their cost has increased to Rs 33,19,601.84 crore. This means that their cost has increased by Rs 5,55,355.34 crore i.e. 20.09 percent. The average delay in the delayed projects is 35.4 months.
