Cost overrun faster for Railway projects
Railway Ministry tops the list with 91 of its 117 mega projects becoming costlier; With 58 mega projects of total 137 suffering cost overrun, Transport Ministry comes next
Longer The Delay, Higher The Cost
- Out of total 1,521 projects, 642 were delayed
- Total original cost of 1,521 infra projects was Rs. 2,118,597.26 cr
- But anticipated completion cost is Rs. 2,576,797.62 cr, which is Rs. 458,200.36 cr higher
- Original cost for Railway projects rose140% to to Rs. 428,170.14 cr from Rs. 178,560.08 crr
New Delhi: The overall cost overruns of 380 infrastructure projects of Rs150 crore and above were Rs458,200.36 crore (21.63 per cent of the original cost) in October. However, most of them, Rs455,835.06 crore, were from mega projects of Rs1,000 crore and above, official sources told Bizz Buzz.
The total original cost of implementation of the 1,521 infrastructure projects was Rs2,118,597.26 crore, but their anticipated completion cost is estimated to be Rs2,576,797.62 crore, which is Rs 458,200.36 crore than the former. Out of the total 1,521 projects, 642 were delayed.
Out of 403 mega projects, 203 have got their cost escalated. The Railways Ministry tops the list with 91 of its 117 mega projects becoming costlier. The original cost went up from Rs 178,560.08 crore to Rs 428,170.14 crore, which meant 139.79 per cent increase.
The second highest number of cost overruns, 58 mega projects (out of a total of 137) was under the Ministry of Road Transport & Highways. The original cost of Rs 74,886.55 has increased 103,374.96, showing a 38.04 per cent hike.
Next is the Power Ministry, with 17 mega projects incurring higher than anticipated costs. The original cost of Rs 76,562.85 crore has increased 70.6 per cent to Rs 130,613.98 crore.
The Petroleum Minister has 15 such mega projects. The corresponding figures are Rs 59,229.61 crore, 39.45 per cent, and Rs 82,595.54 crore.
In terms of increase in percentage, the Ministry of Water Resources is on the top, with 447.22 per cent increase in its solitary mega project -Rs 10,151.04 crore to Rs 55,548.87 crore. Three out of six projects of the Ministry of Civil Aviation have incurred heavy cost overruns, of 141.38 per cent, from Rs 2,828.8 crore to Rs 6,838.21 crore.