India registered delays in completing the railway projects that resulted in cost overrun of Rs1.07 lakh crore (USD 16.4 billion), according to an IndiaSpend analysis of a December 2015 audit report.
As of March 2014, the railways needed Rs 1.86 lakh crore (USD 28.6 billion) to complete the projects, said the report, “Status of ongoing projects in Indian Railways”, conducted over five years (2009-14) by the Comptroller and Auditor General of India (CAG).
Of 442 incomplete projects, new railway lines, gauge conversion and track doubling, only 156 (35 per cent) had deadlines, but despite targets, 75 were incomplete after more than 15 years.
The combined cost overrun of projects with a budget of more than Rs 150 crore (319 of 442) was Rs 1.01 lakh crore (USD 15.5 billion); for projects less than Rs 150 crore (123 of 442), the combined cost overrun was Rs 5,614 crore (USD 890 million), the report said.
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