Delays in 145 Rlys projects ups cost by Rs 40K cr

As many as 145 projects of the Indian Railways have been delayed by several years resulting in a cost overrun of an estimated Rs 40,000 crore.

According to the governments latest flash report on Central sector projects that have either sustained delays or cost overruns,very few railway projects appear to be running on time. Of the 145 projects,seven are in railway minister Mamata Banerjees home state West Bengal,the report released last week showed.

The minister,however,has a different logic for the delays. In her budget speech this year,she pointed out that railway projects should be seen in the light of social viability rather than economic viability.

Railways has stepped up its plan allocation to Rs 40,745 crore,even after non-inclusion of the provision of Rs 3,300 crore from PPP for projects like modernisation of stations,setting up new locomotive plants as joint ventures,etc. Its market borrowings have increased to Rs 9,170 crore to support the higher requirement of rolling stock. The minister had announced hiking allocation for new lines from Rs 1,100 crore in the interim budget to Rs 2,921 crore. Similarly,the provision for gauge conversion has been increased by 24 per cent to Rs 1,750 crore over the interim budget.

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