379 Infrastructure Projects Hit by Cost Overruns

05 Jun 2023 CW Team

An official analysis stated that as many as 379 infrastructure projects, each requiring an expenditure of at least Rs 1.5 billion, have been affected by cost overruns of more than Rs 4.64 lakh crore as of April 2023.

Out of 1,605 projects, 379 reported cost overruns and up to 800 projects were delayed, according to the Ministry of Statistics and Programme Implementation, which oversees infrastructure projects worth Rs 1.5 billion and above.

"Total original cost of implementation of the 1,605 projects was Rs 22,85,674.25 crore and their anticipated completion cost is likely to be Rs 27,50,591.38 crore, which reflects overall cost overruns of Rs 4,64,917.13 crore (20.34 per cent of original cost)," the ministry's latest report for April 2023 said.

The study states that the amount spent on these projects up till April 2023 was 51.39 percent of the projects' estimated cost. On the basis of the most recent completion schedule, it was announced that the number of projects with delays drops to 598. Additionally, it noted that neither the tentative gestation length nor the commissioning year for 413 projects had been published.

Out of the 800 projects that have been postponed, 194 have total delays between one and twelve months, 175 have delays between three and four years, 306 have delays between five and sixty years, and 125 have delays of more than sixty years.

Further evidence that time/cost overrun figures are underreported comes from the fact that many project executing agencies fail to publish revised cost estimates and commissioning schedules.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..