GREATER NOIDA, March 12 -- The Yamuna Expressway Industrial Development Authority (YEIDA), on Tuesday, presented its largest annual Budget to date, marking a five-fold increase over the past three years.
According to officials, the board has approved Rs 9,992.24 crore for the fiscal year 2024-25. "The authority aims to generate revenue of Rs 9,992. 24 crore for the next financial year, with Rs 6,063 crore earmarked for land acquisition for various development projects," said Arun Vir Singh, Chief Executive Officer (CEO), YEIDA.
Singh elaborated that this funding will be utilised to compensate farmers for their acquired lands. "The land acquisition process is set to accelerate. Land acquisition will take place in Aligarh beyond Gautam Buddha Nagar. Various residential and industrial development schemes are expected to come up," the CEO said.
The decision was reached during YEIDA's 80th board meeting held on Tuesday, presided over by YEIDA Chairman Anil Kumar Sagar. Also in attendance were CEO of YEIDA, CEO of Noida Authority, Dr Lokesh M, CEO of GNIDA, NG Ravi Kumar, and other senior officials.
YEIDA's budget this year marks a significant increase compared to three years ago. For the financial year 2022-23, the authority's Budget was Rs 1,950 crore, which rose to Rs 5,844 crore in 2023-24. This year, the Budget has undergone a substantial hike, reaching Rs 9,992.24 crore.
The Yamuna Authority aims to expand its land reserves with this budget. Several new sectors, including Sector-10, Sector-7, Sector-5, Sector-6,
Sector-8, Sector-9, Sector-4A, Sector-5A, Tappal-Bajna Urban Centre, Sector-28, Sector-29, and Sector-32, will be developed, requiring land acquisition.
Published by HT Digital Content Services with permission from Millennium Post.