Are promises made during elections a reality ?

by Subhechcha Ganguly

Even when the deadlines are extended, everything is finished on time in India: According to official data, as of December 1, 2022, the completion of nearly 51% of government projects costing Rs 150 crore and above is experiencing delays. According to the research, the whole cost escalation amounted to Rs. 4.5 lakh crore, or 22% higher than the project’s initial cost. According to a report issued by the Ministry of Statistics and Programme Implementation’s (MOSPI) Infrastructure and Project Monitoring Division.

The research states that delays in land acquisition, gaining environmental and/or forest clearances, infrastructure support, securing project financing, and law and order difficulties were the main causes of project delays. According to a Kotak Institutional Securities study, the Covid epidemic may have caused some of the delays, but the significant slippages are still alarming. In the ninth month of FY23, there was a gradual decline in the overall number of projects that were being carried out. The average time overrun for projects that are behind schedule is currently 42 months.

The road, rail, and petroleum industries experience the most of the delays. According to the report, out of 1,476 projects, 54 projects—mostly road improvements—were completed in November while 16 projects were added. “304 projects have reported further delays compared to their reported completion date from the previous month, while 756 projects have reported delays relative to their original schedules. 58 of these 304 projects—or megaprojects—have a budget of $1 billion or more, according to the report.

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