Face Cost Overrun Of 11.8% Above Sanctioned 6.99L Cr
While the government is looking to fast track stalled projects,around 46.8% (97) of 207 projects classified as mega infrastructure projects costing Rs 1,000 crore or more are facing delays.
According to a report of the ministry of statistics and programme implementation,till May the delayed projects saw a cost overrun of 11.8% from the originally-sanctioned Rs 6.99 lakh crore to Rs 7.81 lakh crore.
According to latest data,64 projects are on track and three projects are ahead of the completion deadline.Of the rest,38 projects do not have fixed dates for completion while two projects were sanctioned without any timeframe but later,dates for completion were fixed.
The five projects with highest cost overrun in percentage terms are being executed by railways.Nangaldam-Talwara new rail line under Northern Railway,under construction for 32 years,has registered the maximum cost overrun of 2651.54%.The project,which was approved in 1981 at a cost of Rs 37.68 crore,is now expected to cost Rs 1,036.78 crore.
Among the five projects with highest cost overrun in absolute terms,two projects belong to railways.The Udhampur-Srinagar-Baramulla new line,which was launched in 1995 to connect the Kashmir valley with rest of India at an estimated cost of Rs 2,500 crore,has seen the maximum cost overrun of Rs 17,500 crore.The Bangalore metro project,executed by the urban development ministry,was cleared in 2006 at an estimated cost of Rs 6,395 crore which has now increased to Rs 11,609 crore,an increase of Rs 5,214 crore.
The Udhampur-Srinagar-Baramulla project tops the chart in maximum delay.Of the top five,four projects are being executed by railways while one by petroleum ministry.The project was supposed to be commissioned in 2001,but is likely to be completed in 2017,showing a time overrun of 201 months.Bankura-Damodar gauge conversion project is delayed by 135 months,followed by Tamluk-Digha line doubling (132 months) and Improved Oil Recovery projects of ONGC at Geleki (120 months).