Govt wraps up 281 central infra projects in FY24: MoSPI Stats

08 May 2024 CW Team

According to government data released, in FY24, work on 281 central government projects costing over Rs 1.50 billion was completed, compared to 329 projects completed in the previous year. It was noted that this completion rate was the second-highest in nearly a decade.

The data also revealed that the proportion of delayed projects increased to 41.6% in March from 41.2% in the previous month. Similarly, the ratio of cost overruns rose to 18.65% compared to 18.19% in the previous month. This increase was attributed to the anticipated cost of 1,873 projects amounting to Rs 31.9 trillion, which was Rs 5 trillion higher than the original cost.

By the end of March, 779 projects were delayed, with 51% of them being delayed for over two years, averaging 36.04 months or nearly three years.

The government release indicated that three projects (two road projects and one telecom project) were added, while 32 projects (seven roads, 23 in petroleum, and two in the power sector) were completed in March.

The release also pointed out a concerning observation that many project agencies were not reporting revised cost estimates and commissioning schedules for numerous projects, hinting that time/cost overrun figures might be underreported.

A sectoral analysis revealed that Railways and water resources had the highest cost overruns, with the anticipated costs of all projects monitored by the ministry exceeding the original cost by 54% and 197%, respectively.

Of the 249 projects monitored under Railways, 149 were facing cost overruns, while the ratio was 9 out of 41 for water resources. Additionally, nearly a fifth of road projects, which constituted the highest number of ongoing projects, were experiencing cost overruns.

Concerning time overruns, 109 out of 249 railway projects and nearly 40% of road projects were delayed.

Infrastructure Transport

15 Sep 2025

Cabinet Approves Key Highway and Rail Projects in Bihar Region

The Union Cabinet on Wednesday approved the four-laning of the 84.2-km Mokama-Munger section of the Buxar-Bhagalpur high-speed corridor, a key industrial region in poll-bound Bihar. The Cabinet also sanctioned the doubling of the 177-km Bhagalpur-Dumka-Rampurhat railway line, which passes through Bihar, Jharkhand, and West Bengal, at a cost of Rs 31.7 billion.The Rs 44.5 billion highway project will be constructed under the hybrid annuity model, a variant of public-private partnership. The Mokama-Munger stretch was the only remaining two-lane section of the 363-km Buxar-Bhagalpur corridor. Fou..

NGT Issues Notice on Bengaluru Twin Tunnel Project

The National Green Tribunal (NGT) on Wednesday issued notices in response to a petition filed by Bengaluru Praja Vedike and others, challenging the Bengaluru twin tunnel road project. Petitioners claim the project was “hastily announced” and bypassed mandatory environmental impact assessment procedures.Notices have been served to the Karnataka Government, Greater Bengaluru Authority, State Environment Impact Assessment Authority (SEIAA), Bengaluru Smart Infrastructure Ltd (B-SMILE), the Union Ministry of Environment, Forest and Climate Change, and project consultants.The 16.74-km twin-tube..

India’s Residential Sales to Dip Slightly in FY26

Residential sales in India’s seven major cities are projected to decline by up to 3 per cent year-on-year in FY26 to 620–640 million square feet (msf), amid a moderation in sales velocity, according to ratings agency Icra.In FY25, sales stood at 643 msf, down 8 per cent YoY, following a sharp contraction in new launches and moderated demand in the affordable and mid-income segments. This slowdown came after the sector posted a robust compound annual growth rate of 26 per cent in area sales between FY22 and FY24.Icra noted: “Having seen a strong upcycle, the sector entered an equilibrium ..