March 4, 2024: The Greater Noida Industrial Development Authority (GNIDA) board on March 1, 2024, allocated funds for various key projects. A total budget of Rs 4,859 crore was approved for the fiscal year 2024-25. This allocation includes Rs 500 crore for the Noida Airport project, Rs 1,200 crore for land acquisition and Rs 30 crore for the expansion of the metro rail network. Chairing the meeting was Manoj Kumar Singh, the GNIDA chairman and the industrial and infrastructural development commissioner of Uttar Pradesh, along with the authority’s CEO NG Ravi Kumar and other officials.
The budget breakdown includes Rs 500 crore for GNIDA’s contribution to the Noida International Airport, Rs 30 crore for metro rail phase-2, and Rs 520 crore for rural development and ‘smart villages’. Additionally, Rs 1,200 crore is allocated for land acquisition, while Rs 1,272 crore is earmarked for development and construction works. Another Rs 1,500 crore is set aside for loan repayments.
Revenue projections for the fiscal year include Rs 4,810 crore from land allotment, with Rs 1,680 crore from builders, Rs 704 crore from industries and Rs 590 crore from commercial establishments. Furthermore, in the previous fiscal year (2023-24), payments totalling Rs 1,272 crore were made by January 31, 2024, towards existing loans. Receipts during this period amounted to Rs 1,317 crore, with expenses of Rs 1,448 crore against the income-expenditure of the financial year.
Other allocations in the budget encompass Rs 120 crore for internal and external development works, Rs 58.60 crore for the construction of vendor markets and shops and Rs 930.67 crore for special projects, including infrastructure development, educational institutions, healthcare facilities and public amenities. Additionally, Rs 43 crore is designated for horticulture.
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