Spiralling prices, funds crunch, poor equipment and slow environment clearances have delayed some 900 major projects in India, burdening the exchequer with extra cost of over Rs.368 billion ($9.2 billion), says an official report.11:30 AM on June 13
Reporting of cost and time overruns of costs in the country's different economic sectors has become a mere routine ritual and nothing more, since absolutely no strong action based on hard-nosed criticism in detail of project ismanagement on individual and sectorral bases is ever undertaken, but only vague conclusions are reached that can be of little earthly use.Drastic overhaul of existing methods and procedures to institute far more effective systems for shortlisting of bidders from among proven reliable ones,in-process monitoring of equipment manufacture to ensure quality equipment delivery a bit earlier,not later,than stipulated deadlines,is sorely required and is long overdue, apart from plugging all loopholes and an eagle's eye to prevent delays before occurrence in all matters,if tax payer's money is not to be squandered so callously as now through delayed and malfunctioning projects.ERADICATE BUREAUCRATIC AAPPROACH EVERYWHERE THAT ENCOURAGES CAUSES OF COSTLY OVERRUNS.
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