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As many as 462 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns totalling more than Rs 4.36 lakh crore, according to a report. The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above. Of the 1,737 such projects, 462 reported cost overruns and 557 were delayed.

As many as 462 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns totalling more than Rs 4.36 lakh crore, according to a report. The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above. Of the 1,737 such projects, 462 reported cost overruns and 557 were delayed.

According to the report, the cost overrun for completing these 462 projects works out to be Rs 4,36,239.82 crore.

The expenditure incurred on these projects till March 2021 is Rs 13,06,617.54 crore, which is 48.94 per cent of the anticipated cost of the projects.

However, the report said the number of delayed projects decreases to 412 if the delay is calculated on the basis of the latest schedule of completion.

Further, for 938 projects neither the year of commissioning nor the tentative gestation period has been reported.

Out of 557 delayed projects, 114 projects have overall delay in the range of 1-12 months, 131 projects (13-24 months), 190 projects (25-60 months) and 122 projects (61 months and above).

The average time overrun in these 557 delayed projects is 44.69 months.

Reasons for time overruns as reported by various project implementing agencies include delay in land acquisition, delay in obtaining forest and environment clearances, and lack of infrastructure support and linkages.

The average time overrun in these 557 delayed projects is 44.69 months.

Reasons for time overruns as reported by various project implementing agencies include delay in land acquisition, delay in obtaining forest and environment clearances, and lack of infrastructure support and linkages.

The report also cited 'state-wise lockdown due to COVID-19' as a reason for the delay in implementation of these projects.

It has also been observed that project agencies are not reporting revised cost estimates and commissioning schedules for many projects, which suggests that time/cost overrun figures are underreported, it added.