‘251 delayed projects to cost 23.45 percent more’

August 19th, 2011 - 8:40 pm ICT by IANS  

New Delhi, Aug 19 (IANS) The central government Friday said 251 central projects have missed their deadlines, resulting in an anticipated cost-overrun of 23.45 percent of Rs.369,361.6 crore on implementing these projects.

“The total anticipated cost involved in these delayed projects is Rs.369,361.6 crore as against the original cost of Rs.299,194.3 crore,” Minister of State for Statistics and Programme Implementation Srikant Kumar Jena informed the Rajya Sabha.

Out of 560 central sector projects, 251 projects were delayed, showed the ministry data furnished by Jena.

Jena further informed the parliament that the government has taken several steps to reduce project delays by instituting a new two-stage clearance system coupled with monthly and quarterly reviews of the ongoing ones.

“The government has taken several steps including adoption of two-stage clearance system and stricter appraisal of projects before investment approval. Taking up of projects for implementation only after funds have been fully tied-up,” Jena said.

The ministry data showed that 97 road and transport related projects, 44 power projects and 34 petroleum projects were delayed.

Cost-over run wise, the data showed that 22 railway projects with sanctioned funds of Rs.17,342.2 crore would eventually cost 116.10 percent more because of delays at Rs.37,477.7 crore.

The cost of two-urban development projects would increase by 102.39 percent at Rs.30,503.4 crore from the sanctioned fund of Rs.15,071 crore.

Duration-wise, railway projects would take anywhere from two month to 18 years to complete, followed by road projects which may take one month to eight years to complete.

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