449 infra tasks hit by value overrun of ₹5.01 lakh cr in March: MoSPI

As many as 449 infrastructure tasks, every entailing an funding of ₹150 crore or above, have been hit by value overrun of greater than ₹5.01 lakh crore in March 2024, an official report acknowledged.

In keeping with Ministry of Statistics and Programme Implementation (MoSPI), which screens infrastructure tasks value ₹150 crore and above, out of 1,873 tasks, 449 reported value overrun and 779 tasks have been delayed.

“Whole authentic value of implementation of the 1,873 tasks was ₹26,87,535.69 crore and their anticipated completion value is more likely to be ₹31,88,859.02 crore, which displays total value overrun of ₹5,01,323.33 crore (18.65 per cent of authentic value),” the Ministry’s newest report for March 2024 stated.

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In keeping with the report, the expenditure incurred on these tasks until March 2024 is ₹17,11,648.99 crore, which is 53.68 per cent of the anticipated value of the tasks. Nevertheless, the variety of delayed tasks decreased to 567 if delay is calculated on the idea of the newest schedule of completion, it added.

Additional, it stated that for 393 tasks neither the 12 months of commissioning nor the tentative gestation interval has been reported. Out of the 779 delayed tasks, 202 have total delays within the vary of 1-12 months, 181 have been delayed for 13-24 months, 277 tasks for 25-60 months, and 119 tasks have been delayed for greater than 60 months.

The typical time overrun in these 779 delayed tasks is 36.04 months.

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Causes for time overrun, as reported by varied mission implementing companies, embrace delay in land acquisition, acquiring forest and setting clearances, and lack of infrastructure help and linkages.

Delays in tie-up for mission financing, finalisation of detailed engineering, change in scope, tendering, ordering and tools provide, and regulation and order issues are amongst different causes.

The report additionally cited State-wise lockdowns on account of Covid-19 (imposed in 2020 and 2021) as a motive for the delay within the implementation of those tasks.

It has additionally been noticed that mission executing companies will not be reporting revised value estimates and commissioning schedules for a lot of tasks, which suggests that point/value overrun figures are under-reported, it added.