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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.
India's National Statistical Commission is back to full capacity with the appointment of two new members after a one-year gap. A Ganesh Kumar and Debasis Kundu have been appointed, bringing the panel's strength to five, including the chairman. The commission, set up in 2005, aims to strengthen the statistical system, suggest survey standards, and coordinate with other departments. The appointments come amidst calls for reforming the country's statistics system, with the Prime Minister's Office discussing overhauling measures earlier this year.
A base year change for inflation and industrial production data and improving administrative data from ministries are on the cards.
March witnessed a decrease in food inflation to 8.52 per cent, down from 8.66 percent in February.
In February 2024, 443 infrastructure projects faced cost overruns exceeding Rs 4.92 lakh crore. A total of 764 projects were delayed, with reasons including land acquisition delays, COVID-19 lockdowns, and lack of infrastructure support.