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Business Other News 25 Jul 2018 59 mega infrastructu ...

59 mega infrastructure projects get costlier by Rs 1.36 lakh crore

PTI
Published Jul 25, 2018, 3:57 pm IST
Updated Jul 25, 2018, 3:57 pm IST
Total original cost of implementation of these projects was Rs 1,49,564.80 crore.
As many as 59 mega central sector infrastructure projects, worth at least Rs 1,000 crore each, have reported cost overrun of Rs 1.36 lakh crore, Parliament was informed on Wednesday.
 As many as 59 mega central sector infrastructure projects, worth at least Rs 1,000 crore each, have reported cost overrun of Rs 1.36 lakh crore, Parliament was informed on Wednesday.

New Delhi: As many as 59 mega central sector infrastructure projects, worth at least Rs 1,000 crore each, have reported cost overrun of Rs 1.36 lakh crore, Parliament was informed on Wednesday.

Union minister Vijay Goel, in a written reply to Lok Sabha, said: "As on April 1, 2018, a total of 389 mega projects (costing Rs 1,000 crore and above) including rail and road sectors were on the monitor of the Ministry of Statistics and Programme Implementation (MOSPI). "Out of these, the cost of 59 projects has increased by Rs 1,36,790.58 crore due to delay in their completion."

 

MOSPI monitors on-going projects costing Rs 150 crore and above on time and cost overruns, on the basis of information provided by the project implementing agencies on its On-line Computerized Monitoring System (OCMS). It also includes mega projects worth Rs 1000 crore and above. Goel said 38 power projects are showing both delay in completion and consequent cost overruns.

Total original cost of implementation of these projects was Rs 1,49,564.80 crore and their anticipated completion cost is likely to be Rs 1,96,155.21 crore, which reflects an overall cost overruns of Rs 46,590.41 crore (31.15 per cent).

The MOSPI minister informed the House that the major steps taken to ensure completion the projects without time and cost overruns include project appraisal by respective ministries; OCMS; setting up of Revised Cost Committees in the ministries concerned for fixation of responsibility for time and cost overruns and regular review of projects by the administrative ministries.

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Location: India, Delhi, New Delhi


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