India Faces Infrastructural Crisis: Over 450 Projects Hit Massive Cost Overruns

India's infrastructure sector is facing a significant crisis, with 458 projects exceeding cost estimates by Rs 5.71 lakh crore as of May 2024. Out of 1,817 projects monitored, 831 are delayed. The primary reasons include land acquisition, financial issues, and environmental clearance.

An alarming report reveals that 458 infrastructure projects in India, each costing Rs 150 crore or more, have experienced cost overruns exceeding Rs 5.71 lakh crore as of May 2024, according to the Ministry of Statistics and Programme Implementation (MoSPI).

Out of 1,817 monitored projects, 458 reported cost overruns and 831 were delayed. The total original implementation cost was Rs 27.58 lakh crore, with an anticipated cost escalating to Rs 33.29 lakh crore—a 20.70% overrun.

Common reasons cited for delays include land acquisition issues, environmental clearances, financial constraints, and manpower shortages. The average delay for 831 delayed projects is 35.1 months.

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