 statement of objects and reasonsdevelopment is the buzzword today in emerging india, even as the country resolves to build an economically stronger, more efficient set up which is devoid of bureaucratic delays mega projects popularly known as infrastructure projects are started with much pomp and show but they are hardly completed in time the estimated cost of project always overrun for the simple reason that the projects are not completed within the target date in many cases, the escalation in cost of projects results in manifold expenditure and loss to the public exchequer time and cost overruns in projects in the environment of uncertainties, inadequate funding, delay in land acquisition, law and order problems, general escalation in costs, etc are required to be eliminated altogether ° at present, there is no mechanism to supervise the progress of the completion of mega projects moreover, for many projects necessary funds are not released by the central government as a result, the projects are held up therefore, in order to ensure timely completion of all projects, it is proposed to provide a mechanism at the bureaucratic level and also accountability of the executive to the legislature the bill seeks to achieve the above objective new deetut; ks rao november 7, 2005  financial memorandum: clause 4 of the bill seeks to provide for the setting up of a committee to monitor the progress of implementation and timely completion of mega projects most ofthe members on the committee will be government functionaries, but a few experts in the fields of agriculture, energy, etc are to be associated with the committee clause 7 provides for release of necessary funds by the central government for completion of all mega projects the bill, therefore, if enacted wiil involve expenditure from the consolidated fund of india it is likely to involve an annual recurring expenditure of about rupees ten thousand crore from the consolidated fund of india a non-recurring expenditure of about rupees twenty five thousand crore will also be involved memorandum re regarding delegated legislation'clause 11 of the bill empowers the government to make rules for carrying out the purposes of the bill as the rules will relate to matters of detail only, the delegation of legislative power is of anormal character ¢