Prime Minister Narendra Modi's efforts to push delayed infrastructure projects are paying off.

Three years after it came to power, the BJP government led by Prime Minister Narendra Modi has quietly but effectively moved forward in the implementation of long-pending infra projects in the country.

Infrastructure, the main pillar of the Indian economy's growth, saw about 25 percent of 1,201 projects valued at Rs 16.9 trillion delayed as of January, a fall of 43 percent from two years back, according to a Bloomberg News report.

Cost overruns (budget overruns, cost increases) have fallen to 11 per cent from 20 per cent from March 2015.

Of the total projects under implementation, 329 are running behind schedule, 293 are witnessing cost overruns, while 95 are affected by both time and cost overrun compared to their original implementation schedules.

PM Modi has kept a close watch on the reviewing, progress of key infra projects such as roads, railways, energy and telecommunication among others and has personally monitored their implementation by constantly holding meetings with top level government officials.

A delay in attracting finance, land acquisition and environmental clearances and a lack of infrastructure support and linkages are still some bottlenecks inflicting the coal, power, petroleum, railways and road sector projects in the economy. Since they have been running behind schedule, urgent steps are needed to ensure their revival.

Manish Agarwal, Leader, Capital Projects & Infrastructure, PricewaterhouseCoopers India told Bloomberg News that the stalled public projects started moving on government steps such as the delegation of decision-making power, setting deadlines and reforming contract rules.

The government is targeting an increase in public spending, completion of stalled projects instead of announcing new projects, the resolution of private stalled projects and bringing new projects into the market for private investment, Agarwal added.

There will be some increase in private investment due to the government's recent steps to reduce non-performing assets of banks, said Agarwal.

In his latest meeting on infra projects on April 25, 2017, Modi called for a consolidated approach to complete existing projects within stipulated timelines.

The meeting, which focused  on roads, railways, airports, digital ports and coal projects, was attended by top officials from PMO, NITI Ayog and all infrastructure ministries of the government, lasted about four-and-a-half hours.