Mr. Srikant Kumar Jena, the Minister of State (Independent Charge) for Statistics and Programme Implementation, informed the Parliament today that delay in completing the core projects has resulted in the cost overrun to the tune of INR 52,445 crore. The overrun covers the projects in power (28), railways (36), road transport and highways (84). The Government has taken steps for the implementation of the projects in time. Strict project appraisal, two stage approval procedure, correct prioritization of projects, online computerized monitoring system, formation of standing committees in various ministries to fix the responsibility for time and cost overruns are those administrative steps; the higher weightage to project implementation by Power Supply Unit is also another step taken by the government. Referring to the ongoing central sector 13 projects for which the total original cost is about INR 26,368.82 crore , the minister said that no cost overrun has been reported by the project implementing agencies. One project, he said, consisting of Kakrapar Atomic Power Project 3 and 4, has reported a delay by 11 months, the delay being attributed to the late receipt of financial sanction.
Sunday, 9 September 2012
Delay in the completion of projects costs to the Government about INR 52,000 crore
Mr. Srikant Kumar Jena, the Minister of State (Independent Charge) for Statistics and Programme Implementation, informed the Parliament today that delay in completing the core projects has resulted in the cost overrun to the tune of INR 52,445 crore. The overrun covers the projects in power (28), railways (36), road transport and highways (84). The Government has taken steps for the implementation of the projects in time. Strict project appraisal, two stage approval procedure, correct prioritization of projects, online computerized monitoring system, formation of standing committees in various ministries to fix the responsibility for time and cost overruns are those administrative steps; the higher weightage to project implementation by Power Supply Unit is also another step taken by the government. Referring to the ongoing central sector 13 projects for which the total original cost is about INR 26,368.82 crore , the minister said that no cost overrun has been reported by the project implementing agencies. One project, he said, consisting of Kakrapar Atomic Power Project 3 and 4, has reported a delay by 11 months, the delay being attributed to the late receipt of financial sanction.
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