YEIDA brings in farmer-friendly budget

Greater Noida: The Yamuna Expressway Industrial Development Authority (YEIDA) on Monday said that they have proposed a farmer-friendly budget for the fiscal year 2018-19 in which the authority has decided to clear the long pending compensation issues of farmers whose lands have been acquired for various development related works by the authority.

"Unlike last year, the authority this year has allocated a budget of Rs 1,400 crore which will be given to farmers as compensation for their land. Last year, the authority dispersed Rs 872 crore among the farmers which has now been increased significantly," said Prabhat Kumar, Chairman, YEIDA. Detailing the other major decisions taken by the authority in its 63rd board meeting held on Monday, Kumar told reporters that the authority has also focused on spending a major portion of budget on the development of ongoing residential and industrial plot scheme as well as on the villages.

"This year, the authority will spend Rs 1,200 crore on the development works which also include development of those plot schemes which have been already running by the authority. Apart from these, Rs 100 crore has been allocated to villages. We will also appoint a private agency to carry out developmental works in villages so as to make them fall under the smart village category," added Kumar.

In order to boost connectivity between Jewar and Delhi airports, Kumar said that a feasibility report will also be prepared.

Acting against defaulting builders, the authority has ordered to register FIR against two builders as they were found to have siphoned off the money and used it in another projects. These builders are Greenbay Infrastructure and SDS Infracon Infrastructure.

"In the audit report it was found that the two builders have diverted the funds collected from buyers to some other projects. We have decided to take action against such builders and their lands equivalent to the money diverted will be sold out. The money that will be raised from it will be invested in development works in the same area by involving a co-developer," Kumar continued.

Concerning safety measures over the Yamuna Expressway, a hike in toll tax rates will also be effected. The hike will be of 5 to 15 paisa per kilometer and the new rates will be applicable from June 1.