Centre projects costs rise to a 1 year high in April

29 May 2024 CW Team

In April, cost overruns in central government projects surged to a 12-month peak, reaching 20.09%, as revealed by data released by the government on Tuesday. This marked an increase from 18.65% in the previous month. The total value of 1,838 projects, each valued at Rs 1.50 billion and above, amounted to Rs 33.2 trillion, exceeding the original cost by Rs 5.6 trillion.

Of these projects, 43% (792) were delayed compared to their original completion dates, while 514 experienced delays in both completion time and cost. In April, 61 projects were successfully completed, while 29 new projects were initiated, with completed projects costing Rs 466 billion and new projects estimated at Rs 1.3 trillion.

Despite the surge in cost overruns, the average time for project completion decreased to 35.4 months, down from 36.04 months in March. However, a concerning trend emerged, with 48% of projects experiencing delays of over two years. Notably, 54 projects, representing only 2.93% of the total, accounted for 43.39% of the total cost overrun and 21.34% of the total time overrun.

Among various sectors, railways encountered the highest cost overruns in April, standing at 126.5%, with more than half of its projects facing such issues. Meanwhile, road transport and highways, constituting nearly 60% of the projects, experienced a cost overrun ratio of 23.7%. Additionally, over one-third of railway projects and more than 10% of road projects reported time overruns, according to government data.

Despite these challenges, the government remains committed to infrastructure development, as recognised by international agencies as a key driver of economic growth. Projections suggest a growth rate of 7.8% for FY24, with an expected growth of 6.8% in the current fiscal year. (ET Infra)

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..