Infrastructure Spending

364 infrastructure projects show cost overruns of Rs 4.52 trillion: Report

As many as 364 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.52 lakh crore, as per an official report. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects of Rs 150 crore and above, out of 1,476 projects, 364 reported cost overruns and as many as 756 projects were delayed. "Total original cost of implementation of the 1476 projects was Rs 20,84,124.75 crore and their anticipated completion cost is likely to be Rs 25,36,179.03 crore, which reflects overall cost overruns of Rs 4,52,054.28 crore (21.69% of original cost)," the ministry's latest report for November 2022 said. According to the report, the expenditure incurred on these projects till November 2022 was Rs 13,67,245.45 crore, or 53.91 per cent of the anticipated cost of the projects. However, the number of delayed projects decreases to 626 if delay is calculated on the basis of the lates

384 infrastructural projects show cost overruns of Rs 4.52 trillion

As many as 384 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.52 lakh crore, as per a report. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects of Rs 150 crore and above, out of 1,529 projects, 384 reported cost overruns and as many as 662 projects were delayed. "Total original cost of implementation of the 1529 projects was Rs 21,25,851.67 crore and their anticipated completion cost is likely to be Rs 25,78,197.18 crore, which reflects overall cost overruns of Rs 4,52,345.51crore (21.28% of original cost)," the ministry's latest report for September 2022 said. According to the report, the expenditure incurred on these projects till September 2022 was Rs 13,78,142.29 crore, or 53.45 per cent of the anticipated cost of the projects. However, the number of delayed projects decreases to 531 if delay is calculated on the basis of latest schedule o

BoB to benefit from govt thrust on infra spending: Chairman Hasmukh Adhia

The banking industry of course would be benefited due to increase in the demand for bank credit and Bank of Baroda would be a key beneficiary of these developments," he said.

IIFCL raises Rs 1,500 crore via debt to fund infrastructure projects

India Infrastructure Finance Company Ltd (IIFCL) on Thursday said it has raised Rs 6,000 crore in debt to provide impetus to government's infrastructure vision.

Industry hails infrastructure push through Gati Shakti, PPP in Budget

Industry players on Tuesday hailed the announcements for the infrastructure sector in the Union Budget and said the proposal to fund infrastructure through 'Gati Shakti' and public private partnerships will mark the escalation of economic prosperity. Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2022 in Parliament. "One of the strongest parts of this Budget is the government's renewed commitment with its continued investment in strengthening the country's infrastructure. The proposal to fund infrastructure through PM Gati Shakti, Public Private Partnerships, etc. will mark the escalation of economic prosperity. "Overall, the budget seems to have given a booster dose to facilitate faster economic growth of the nation; roads is definitely one of the prominent sectors to get deserved focus through adequate funding," IRB Infrastructure Developers Chairman & Managing Director Virendra D Mhaiskar said. According to EY India Tax Partner Infrastructure Samir ..

Central Vista: 6 firms submit technical bids to construct Executive Enclave

Six infrastructure firms, including Tata Projects Limited and L&T Limited, have submitted technical bids for the construction of an executive enclave that will house the prime minister's office (PMO), Cabinet secretariat, India House and National Security Council Secretariat, a CPWD official said on Wednesday. The other four firms are Shapoorji Pallonji and Company Limited, NCC Limited, PSP Projects Limited and Ahluwalia Contracts India Limited. The official said the documents submitted by these six construction firms are being checked for their qualification to participate in the financial bids. According to the CPWD's bid document, the project, which is being executed under the Narendra Modi government's ambitious Central Vista redevelopment plan, will be completed within 24 months at an estimated cost of Rs 1,171 crore. The Central Public Works Department (CPWD), which comes under the Union Housing and Urban Affairs Ministry, said the Executive Enclave will come up on the south

Infrastructure spending to push 'base metals' prices higher in 2021

Robust demand recovery amid gradual supply increase is expected to push base metal prices higher on a year-on-year basis in 2021

Moving on the infrastructure agenda

Globally, municipal bonds are an established and major source of funding for urban infra. However, the municipal bond market is quite underdeveloped in India, notes Vinayak Chatterjee

Old wine, new bottle

New DFI should not just be a bailout of the old

Atmanirbhar Kisan: FM Sitharaman allows mandis to access Agri Infra Fund

Cess might not pinch the pocket much as it could be offset by cut in customs duty

Ease fiscal deficit, look at higher spend for future: Assocham President

Infra spending has thrice the desired impact, govt's Rs 111 trn National Infrastructure Pipeline should be speeded up, says Vineet Aggarwal

Govt infuses Rs 5,298 cr into IIFCL to boost infrastructure spending

This infusion has increased the paid-up equity share capital of IIFCL to Rs 9,999.92 crore against the authorized share capital of Rs 10,000 crore.

National Infra Pipeline final report doesn't account for Covid-19 slowdown

Copy-pastes optimistic statements from interim report but removes GDP projections

Cut in taxes, infra spending will help revive Indian economy: Anil Agarwal

Besides spending on building infrastructure, the government should focus on exploiting natural resources the country has and look at stake sale in most PSUs, said the mining baron

Preparing for an infrastructure push

The NIP Task Force has asked for a 21 per cent increase in government spend on infrastructure in 2020-21

Over Rs 300 cr invested in airport infra in FY20, surge in domestic fleet

In an official statement, the aviation ministry also said while as many as 10 airports commenced operations in 2019, 335 routes have been awarded, covering 33 aerodromes during the year

Govt needs to forget fiscal prudence to revive demand: Shriram Transport MD

'the government should be little on the expansionary mode for two years', said Umesh Revankar, MD and CEO, Shriram Transport Finance

Plan ready for Rs 100-trn investment in infra, Rs 50-trn in Railways: Goyal

The Centre has chalked out a plan envisaging an investment of Rs 100 lakh crore in the infrastructure sector over the next five years, Union Minister Piyush Goyal said on Wednesday. "The investment will transform availability and quality of infrastructure at airports, roads, highways, railways, ports... All infrastructure-related sectors (aviation, shipping, electricity, and oil & gas) are going to see a huge thrust in the next five years," Goyal said. The railways and commerce & industry minister said that "Rs 100 lakh crore in the next five years is not a small amount". He said the railways has drawn up a 12-year plan entailing an investment of Rs 50 lakh crore. "Rs 50 lakh crore in 12 years is an unheard of investment spree that the railways is planning. Obviously, the government cannot put in this kind of money so we will have to engage the private sector. We will have to work closely through the public-private partnership model," Goyal said at the India International ...

Stimulus package is a well-designed boost for economy: Chandrajit Banerjee

This is indeed a comprehensive package which shows that the finance ministry has been keeping its ears close to the ground

India must double infra spending, harness private investment: Eco Survey

To achieve the target of $10 trillion economy size by 2032, a robust and resilient infrastructure system is required, supported by adequate private investments