• Mr.Rahul Chaudhari
• Dr. Sandip T.Mali

Infrastructure remains a top priority for addressing developmental gaps as it is considered omnipotent with potentials of lifting economies out of the financial turmoil. The governments around the world are pumping money to generate demands for goods and services by creating jobs through higher spending into physical and social infrastructure. World construction industry is one of the biggest industries in the whole world. The contribution of this industry towards the global GDP revolves around one-tenth of the total amount. Global construction market to grow $8 trillion by 2030: driven by China, US and India. In this study literature review was carried out to understand the scenario of cost escalation and inflation on the construction industry. For this regard, literature published in various countries was studied and summarized. Outcome of this study is to highlight the majors factors affecting cost escalation for construction projects all over the construction industry in developed and developing countries.

Escalation, inflation, construction industry, cost overrun.

"Study on effect of escalation on construction projects", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 6, page no.133-138, June 2019, Available :http://www.jetir.org/papers/JETIR1907920.pdf

"Study on effect of escalation on construction projects", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 6, page no. pp133-138, June 2019, Available at : http://www.jetir.org/papers/JETIR1907920.pdf