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Get latest articles and stories on Latest News at LatestLY. As many as 448 infrastructure projects, each entailing an investment of Rs 150 crore or above, were hit by cost overrun of more than Rs 5.55 lakh crore during December quarter 2023, an official report stated. Latest News | Govt Says 448 Infra Projects Hit by Cost Overrun of Rs 5.55 Lakh Cr in Oct-Dec.
According to a recent report, as many as 448 infrastructure projects, each entailing an investment of Rs 150 crore or above, were hit by a cost overrun of more than Rs 5.55 trillion during December quarter 2023.
The Quarterly Project Implementation Status Report (QPISR) for the third quarter of 2023-24 revealed that 448 infrastructure projects, each worth Rs 150 crore or more, experienced cost overruns of over Rs 5.55 lakh crore. Out of 1,897 projects, 56 were ahead of schedule, 632 were on schedule, and 902 were delayed. The anticipated completion cost was Rs 31,74,489.91 crore.
Of the 1,897 projects, 448 projects had a cost overrun of Rs 5,55,352.41 crore, which is 65.2 percent of their sanctioned cost. Around 56 projects were ahead of schedule, 632 projects were on schedule, and 902 projects were delayed, according to QPISR data
The Quarterly Project Implementation Status Report (QPISR) on Central Sector Projects (costing ₹150 crore and above) for the third quarter of 2023-24, contains detailed information on 1,897 projects. The QPISR is prepared by Ministry of Statistics and Programme Implementation.