The government on Monday admitted in Rajya Sabha that almost half of 951 central sector projects are delayed resulting in cost overrun to the tune of over Rs 40,000 crore (Rs 400 billion).
These projects are worth over Rs 20 crore (Rs 200 million) each. "...out of 951 central sector projects costing Rs 20 crore and above on the monitor of the Ministry of Statistics and Programme Implementation...474 projects have been delayed. The cost overrun...is of the order of Rs 42,014 crore (Rs 420.14 billion)," Statistics and Programme
Implementation Minister Sriprakash Jaiswal said.
The cost of the delayed projects has increased by 13.52 per cent, he said, adding that the original cost of the projects was at Rs 3,10,178 crore (Rs 3101.78 billion).
The total cost of 951 projects monitored by the ministry is estimated at Rs 6,07,188 crore (Rs 6071.88 billion).
Accepting inordinate delay in 2,000-MW nuclear power plant in Kadankula, Tamil Nadu, Jaiswal said, "the project is being executed in technical cooperation with Russian Federation and all equipment is in Russian scope of supply. There has been delay in supply of equipment from the Russian Federation."
The matter has been taken up with Russia by the government at the highest level, he said. He added that the project saw expenditure of Rs 12,446 crore (Rs 124.46 billion) in October 2009 against approved completion cost of Rs 13,171 crore (Rs 131.71 billion).
