Monuments of Sloth ; Infrastructure Is Touted As the Cure for the Slowdown, but Project Delays Are Going to Cost the Government Over Rs 39,000 Crore.
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Summary
It is the favourite mantra of policy makers, politicians and prescribing economists. And they chant it relentlessly as an antidote to recession and a supplement to boost growth. Tragically though, for all the chanting of the infrastructure mantra the Government has not been able to change the religion of sloth on the ground.
About 423 projects of the 925 in the Central sector cutting across critical sectors are facing huge delays and cost overruns attributed to delays in land acquisition and clearances, slow award of contracts and poor performance of contractors. This means five out of 10 Central projects are facing delays in years and adding crores in cost overruns, according to the Ministry of Statistics and Programme Implementation (MoSPI).See the full content of this document
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Monuments of Sloth ; Infrastructure Is Touted As the Cure for the Slowdown, but Project Delays Are Going to Cost the Government Over Rs 39,000 Crore.
Approval for many projects dates back to the early 1990s, while some have been hanging since 1984. The Government will have to spend about Rs 39,000 crore more due to the delay in commissioning of almost half of the Central projects costing Rs 20 crore and above, according to Minister of Statistics and Programme Implementation Sriprakash Jaiswal. This despit...
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