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Wednesday, July 24, 2024

GNIDA Unveils Ambitious 2024-25 Budget: Focus on Infrastructure and Growth

The Greater Noida Industrial Development Authority (GNIDA) board, during its 134th Board Meeting convened in Greater Noida, meticulously outlined and approved an extensive budget of Rs 4,859 crore for the fiscal year 2024-25. The distinguished meeting, under the guidance of GNIDA Chairman Manoj Kumar Singh, who also serves as the Industrial and Infrastructural Development Commissioner of Uttar Pradesh, witnessed the allocation of substantial funds to various pivotal initiatives.

Foremost among the allocations is a substantial provision of Rs 1,200 crore for comprehensive land acquisition endeavors, underlining the authority’s commitment to strategic expansion and development. Simultaneously, the budget incorporates a substantial infusion of Rs 500 crore dedicated to the progressive development of the Noida Airport, emphasizing the significance of bolstering air connectivity in the region.

In a multifaceted approach to infrastructural development, a noteworthy allocation of Rs 30 crore has been designated for the expansion of the metro rail network, a crucial move to enhance public transportation and connectivity within the Greater Noida vicinity.

Delving deeper into the budgetary provisions, Rs 1,272 crore has been earmarked for the execution of diverse development and construction projects, symbolizing a comprehensive strategy to fortify the region’s infrastructural framework. A prudent allocation of Rs 1,500 crore has been set aside for the purpose of loan repayment, exemplifying the financial prudence embedded in the budget.

Revenue generation is anticipated through judicious land allotment, encompassing a substantial Rs 1,680 crore from builders, Rs 704 crore from industries, and Rs 590 crore from commercial establishments. This strategic approach ensures a sustainable financial model for the GNIDA.

Beyond these pivotal allocations, the budget exhibits a forward-looking vision by designating Rs 520 crore for rural development and the establishment of ‘smart villages,’ thereby emphasizing the holistic progress of the region. Furthermore, Rs 957 crore has been allocated for “urban and health” services, addressing the imperative needs of urban infrastructure and public health. Additionally, a provision of Rs 280 crore has been made for electric sub-stations, aligning with the infrastructural requirements of UPPCL and UPPTCL.

In essence, this meticulously crafted budget signifies a comprehensive and strategic commitment by the GNIDA to foster economic growth, infrastructural development, and community well-being in the Greater Noida region for the fiscal year 2024-25.

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