Government Completes 281 Central Infra Projects in FY24 Amid Rising Cost Overruns: MoSPI Data

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According to data from the Ministry of Statistics and Programme Implementation (MoSPI), the government successfully concluded 281 central infrastructure projects valued at over Rs 150 crore each during FY24. However, the ratio of cost overruns escalated to a three-month high of 18.65%, with anticipated costs exceeding the original by Rs 5 lakh crore across 1,873 projects totaling Rs 31.9 lakh crore. This marks a rise from 18.19% in the preceding month. Notably, the government completed fewer projects compared to the previous year, with 329 completed in FY23. Sector-wise analysis reveals the highest cost overruns in Railways and water resources, with anticipated costs surpassing the original by 54% and 197%, respectively. Among railway projects, over half faced cost overruns, while nearly 40% of road projects experienced delays, highlighting challenges in project management.

Note: The above-mentioned news was first published by us in our ProjectX India | 1st June 2024 edition.. Do you want to buy this issue or our latest issue? If yes! click here

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