Govt says 448 infra tasks hit by value overrun of ₹5.55 lakh cr in Oct-Dec

As many as 448 infrastructure tasks, every entailing an funding of ₹150 crore or above, had been hit by value overrun of greater than ₹5.55 lakh crore throughout December quarter 2023, an official report acknowledged.

The Quarterly Mission Implementation Standing Report (QPISR) on Central Sector Initiatives (costing ₹150 crore and above) for the third quarter of 2023-24, incorporates detailed info on 1,897 tasks.

The QPISR is ready by Ministry of Statistics and Programme Implementation.

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Out of 1,897 tasks, 448 tasks had been having value overrun of ₹5,55,352.41 crore, which is 65.2 per cent of their sanctioned value.

Nonetheless, it acknowledged that with regard to the newest permitted value, 292 tasks had reported value overrun of ₹2,89,699.46 crore.

Additional, 276 tasks are having each time and value overruns.

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Out of 1,897 tasks, 56 tasks had been forward of schedule, 632 tasks had been on schedule, 902 tasks had been delayed with respect to the unique schedule of completion.

Additional, it acknowledged that for 307 tasks, both unique or the anticipated date of completion was not reported or had lapsed.

The anticipated completion value of those 1,897 tasks is reported to be ₹31,74,489.91 crore.

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The overall expenditure as on December 31, 2023 was ₹16,89,400.92 crore which works out to 53.22 per cent of the overall anticipated completion value and 63.9 per cent of the unique value. For these 1,897 tasks, a complete outlay of ₹3,70,983.54 crore has been allotted for 2023-24, it acknowledged.

The share of delayed tasks modified from 56.70 per cent in quarter ended December 2022 to 47.55 per cent in third quarter of FY24. The share of value overrun lowered from 21.42 per cent to twenty.1 per cent.

Causes for time overrun, as reported by varied mission implementing companies, embody delay in land acquisition, acquiring forest and atmosphere clearances and regulation and order issues.

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

Whereas the fee overruns on account of common value escalation couldn’t be averted, the fee escalation on account of delay could possibly be minimized, it acknowledged.