Explore Business Standard
The growth in production of eight key infrastructure sectors slowed down to 2 per cent in September as against 9.5 per cent in the same month last year, according to official data released on Wednesday. However, the output growth is positive against a contraction of 1.6 per cent in August. Out of the eight key sectors, three -- crude oil, natural gas and electricity -- recorded negative growth in September. The growth of core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 4.2 per cent during April-September this fiscal. It was 8.2 per cent in the same period last fiscal. The eight core sectors contribute 40.27 per cent to the Index of Industrial Production (IIP) which measures overall industrial growth.
As many as 354 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.55 lakh crore, as per an official report. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs 150 crore and above, out of 1,449 projects, 354 reported cost overruns and as many as 821 projects were delayed. "Total original cost of implementation of the 1,449 projects was Rs 20,69,658.30 crore and their anticipated completion cost is likely to be Rs 25,25,348.87 crore, which reflects overall cost overruns of Rs 4,55,690.57 crore (22.02 per cent of original cost)," the ministry's latest report for March, 2023 said. According to the report, the expenditure incurred on these projects till March 2023, is Rs 13,90,736.58 crore, which is 55.07 per cent of the anticipated cost of the projects. However, the number of delayed projects decreased to 616, if delay is calculated on the basi