The Ministry of Statistics and Programme Implementation <\/strong>(MOSPI) has released a report that shows the cost overruns and time overruns for various projects.<\/span><\/p>\n Cost overrun<\/b>: It is an unexpected change in the project budget that ends up increasing the total project cost.<\/span><\/p>\n Time overrun: <\/b>It<\/span> can be defined as a condition where a project does not complete within the designed schedule.<\/span><\/p>\n The <\/b>cost overruns<\/b> for 1,670 projects worth more than Rs 150 crore value were on average around 20%.<\/span><\/p>\n Among these projects, <\/b>Larger projects (worth more than Rs 1,000 crore) faced higher cost overruns as the anticipated cost exceeded the original by a quarter.<\/span><\/p>\n Among all these projects, a third of the total projects faced time overruns.<\/span><\/p>\n Region-wise:<\/b> The Northeast region faced the highest cost overruns for central projects.<\/span><\/p>\n Sectors with high-Cost Overruns: <\/b>Water, telecom and Railways. For example, in water resources, the anticipated costs were 184% higher than the original cost.<\/span><\/p>\n The sector with high Time Overruns<\/b>: Roads and Railways. For example, the <\/span>average time of delay in Railways was 69 months or nearly 6 years.\u00a0<\/span><\/p>\n Source<\/b>:<\/span> This post is based on the article<\/span> \u201cStatsguru: Six charts show India’s infrastructure projects in a slow lane\u201d <\/b>published in <\/span>Business Standard on 2nd November 2021<\/b><\/p>\n","protected":false},"excerpt":{"rendered":" What is the News? The Ministry of Statistics and Programme Implementation (MOSPI) has released a report that shows the cost overruns and time overruns for various projects. What are cost and time overrun? Cost overrun: It is an unexpected change in the project budget that ends up increasing the total project cost. Time overrun: It… Continue reading Statsguru: Six charts show India’s infrastructure projects in a slow lane<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[],"class_list":["post-144666","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704813313},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/144666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=144666"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/144666\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=144666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=144666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=144666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What are cost and time overrun?<\/strong><\/h5>\n
What are the Key Findings of the report?<\/b><\/h5>\n