India's Centrally Funded Infrastructure Project Costs Surge to Rs 30.8 Trillion Amid Significant Overruns
India's centrally funded infrastructure project costs surged nearly 21% in October, reaching Rs 30.8 trillion due to significant overruns across 820 projects, as reported by the Ministry of Statistics and Programme Implementation. The Department of Water Resources faced the largest increase, with costs more than doubling, while the Department of Telecommunications and Ministry of Mines also reported substantial rises. The report underscores ongoing challenges in managing large infrastructure initiatives.
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Total costs of centrally funded infrastructure projects in India rose nearly 21% in October, reaching Rs 30.8 trillion from Rs 25.5 trillion due to cost overruns across 820 ongoing projects, as reported by the Ministry of Statistics and Programme Implementation (MoSPI). The Department of Water Resources faced the highest increase, with costs more than doubling, resulting in an overrun of Rs 99,853.8 crore.
The Department of Telecommunications experienced a 79.9% rise, amounting to Rs 1.22 trillion, while the Ministry of Mines saw an 18.3% increase of Rs 2,380.2 crore. The Ministry of Railways reported a 17.8% increase, and other ministries, including Power, Petroleum and Natural Gas, and Steel, recorded overruns of 16.4%, 15.8%, and 15.7%, respectively.
In contrast, Higher Education and Sports projects saw slight reductions in costs. The report highlights persistent issues in managing large infrastructure projects.
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