The government today said as many as 495 central-sector projects costing Rs 20 crore and above are running behind schedule which has resulted in cost escalation by Rs 55,175 crore.
"As on December 2009, 950 central sector projects costing Rs 20 crore and above with approved cost of Rs 5,72,993 has escalated (by 14 per cent) to Rs 6,53,308 crore," Minister of Statistics and Programme Implementation Sriparkash Jaiswal said in a written reply in the Rajya Sabha.
He said, "Out of the total cost overrun of Rs 80,315 crore, Rs 55,175 crore is accounted for by the 495 delayed projects." The original cost of these 495 projects was Rs 3,43,879.16 crore. Now the anticipated cost of these projects is about 3,99,054.16 crore resulting in cost escalation of Rs 55,175 crore.
The major contributors of this cost overrun of over Rs 55,000 crore are 70 railway projects at Rs 23,295.40 crore. The other sector is petroleum where delay in implementation of 39 projects resulted in cost overrun of Rs 19,159 crore.
The cost escalations in power, steel and coal projects are Rs 3,778.33 crore, 3,265.10 crore and 2,941.36 crore respectively.
