LIVE MARKET TRACKER :   BSE SENSEX        |    NSE NIFTY    
GLOBAL MARKETS :  NASDAQ      |    FSI London      |    NIKKEI Japan  
  USD GBP EUR CAD AUD INR
USD -
GBP -
EUR -
CAD -
AUD -
INR -
Indian-Commodity  :  Economy  :  Delayed 241 infra projects cause cost overrun of Rs 1.6 lakh crore

Delayed 241 infra projects cause cost overrun of Rs 1.6 lakh crore (28-Jul-2016)

The cost of as many as 241 infrastructure projects, monitored by the Statistics Ministry, has overrun by Rs 1.59 lakh crore from their original estimates due to delays in land acquisition, forest clearances and other reasons.

The Statistics Ministry monitored 1,076 infrastructure projects, each worth Rs 150crore or more across sectors such as power, railways and roads in May, 2016. Total original cost of implementation of the 1,076 projects was Rs 12,69,688.04 crore and their anticipated completion cost is likely to be Rs 14,28,703.39 crore, which reflects overall cost overruns of Rs 1,59,015.35 crore.

As per the Statistics Ministry, during May 2016, out of 1,076 projects, 241 projects reported cost overruns, 4 projects are ahead of schedule, 252 are on schedule, 330 are delayed and 70 projects reported both time and cost overrun with respect to their original project implementation schedules.

Out of 330 delayed projects, 63 projects have overall delay in the range of 1 to 12 months, 59 projects have delay in the range of 13 to 24 months, 142 projects have delay in the range of 25 to 60 months and 66 projects have delay of 61 months and above. Speedy implementation of projects assumes significance in view of government's push to move towards high growth trajectory of over 8 per cent and touch double digit mark in few years.

In April 2016, out of 1061 projects, 241 projects reported cost overruns and 326 projects reported time overruns, while during May 2016, out of 1,076 projects, 241 projects reported cost overruns and 330 projects reported time overruns.


Top News Today
M&M's arm inks MoU with MACP
(19-Feb-2018)

M&MMahindra & Mahindra's (M&M) wholly owned subsidiary - Mahindra Agri Solutions has inked a Memorandum of Understanding (MoU) with Maharashtra Agriculture Competitiveness Project (MACP),......click on news to read complete article.

Shree Cement commissions new Cement Grinding Unit at Bihar
(19-Feb-2018)

Shree Cement commissions new Cement Grinding Unit at BiharShree Cement has commissioned new Cement Grinding Unit namely 'New Bihar Cement Plant'. The unit with capacity of 2 MTPA is located at Aurangabad in the state of Bihar.The company had recently commissioned......click on news to read complete article.

Premier Explosives receives Management System Certificate from DNV
(19-Feb-2018)

Premier Explosives receives Management System Certificate from DNVPremier Explosives has received the Management System Certificate from DNV GL Business Assurance (DNV), USA after the company has been found to conform to the Quality Management System Standard ISO 9001:2015......click on news to read complete article.

International Stock News
Asian markets trade higher in early deals on Monday
(19-Feb-2018)

Asian markets trade higher in early deals on MondayAsian equity benchmarks are trading higher in early deals on Monday, joining a global recovery for equity markets as sentiments improved gradually from a recent shakeout that stemmed from fears of creeping......click on news to read complete article.

Asian markets trade higher in early deals on Monday
(19-Feb-2018)

Asian markets trade higher in early deals on MondayAsian equity benchmarks are trading higher in early deals on Monday, joining a global recovery for equity markets as sentiments improved gradually from a recent shakeout that stemmed from fears of creeping......click on news to read complete article.

US markets end mixed on Friday
(17-Feb-2018)

US markets end mixed on FridayThe U.S. equity markets paring most of their early gains ended mixed on Friday after Special Counsel Robert Mueller's office revealed that a federal grand jury has indicted several Russian nationals for......click on news to read complete article.

 

     
  
Recent Economy News
 
EquityInvestmentCompany ReportsIPO
Disclaimer
By clicking on this page you accept all the terms and conditions framed by us. News made available here are for informational purpose only. While utmost care has been taken in providing the same. We claim no responsibility for its accuracy. Readers of this blog who make their decision based on the information posted here are solely responsible for their actions.