REVISED ESTIMATE

                          Revised Estimate: A revised estimate is prepared and submitted for the sanction of Competent Authority, as soon as it becomes apparent that the expenditure on a work or project is likely to exceed the amount provided therefor in the detailed estimate and in the case of construction of a new-line,  construction estimate. It should, unless otherwise ordered by the sanctioning authority, be prepared in the same form and the same degrees of detail as the original estimate, and should be accompanied by a comparative statement showing the excess or saving under each sub-head of account against the latest sanction. In cases where a supplementary estimate or a previous revised estimate has been sanctioned by the Railway Board, it should be made clear how the original sanction has been modified by such further sanction.

                         In cases, however, where the work is in an advanced stage and is likely to be completed before revised estimate can be got out, the excess may with the prior approval of the Competent Authority, be dealt with in the completion report of the work. The fact that a Competent Authority has permitted the regularization of excess over an estimate through completion report should invariably be intimated to the Accounts Officer.

                       Hence it is not possible to put every work under completion report as Engineering Code allow only in very exceptional cases where there is no time for preparation and submission of revised estimate.

                      However so far as Completion Estimate has concerned it is only prepared in respect with line construction, and open line works each estimated cost upto Rs.one crore and above vide para 17.1-E. It is prepared in supersession of a construction estimate or project abstract estimate as the case may be. Hence for the works where preparation of Revised Estimate is necessary it can not be replaced through Completion Estimate.

                Revised Estimate is prepared only when Estimated Cost deviated with actual cost as stated below:

(i) For Less Expenditure-- If the expenditure  is going to be held less than 20% of the Estimated cost.

(ii) For Excess Expenditure-- If the Expenditure is going to be held more than 10% of the estimated cost.

                  In  both the cases, revised estimate is prepared as stated earlier and submitted to Competent Authority, who have verified original detailed estimate than for obtaining approval.