YEIDA approves Rs 4.5K cr Budget, major spending on land allocation

Noida: The Yamuna Expressway Industrial Development Authority (YEIDA) has approved a budget of Rs 4,528 crore for the financial year 2022-23 during its board meeting held on Tuesday. The authority will spend a major portion of budget worth Rs 1,535 crore on land allocation thus providing nod to the several upcoming infrastructural projects.

According to YEIDA officials, the authority has maintained increasing their Budget every year and this time the budget is more than last year's Budget of Rs 3,406 crore. "This year, three times more than the last year's allocation will be spent on the land acquisition as several infrastructural projects are on the anvil. Also nearly four times more will be spent on construction and development work this year. The authority board has also planned to launch municipal bond/infra bond as an option of financial source," the official said.

Chief Executive Officer (CEO) of YEIDA Dr. Arunveer Singh said that this year the authority will focus maximum amount on land acquisition. "Since major infrastructural projects such as Logistic Hub, Medical Device Park and many new industrial schemes will be launched this year, the Yamuna Authority needs more land and keeping this in mind, maximum amount has been allocated for land acquisition in this budget," said Singh.

In this year's budget, the authority board has allocated Rs 1,101 crore for various development and construction works against last year's Rs 275 crore. "The development of the second phase of Noida International Airport holds 12.5% stake to Yamuna expressway authority. The board has allocated Rs 405 crore of its share," added Singh.

Further on Noida International Airport, the authority has focused to improve connectivity from the international airport to the city and the entire Delhi-NCR region. For this metro, podtaxi and expressway are being built. The authority will spend Rs 300 crore in this till March 31, 2022. In total, Yamuna Authority is going to spend Rs 705 crore on Noida international airport and multimodal connectivity.

During the meeting, the authority board also gave in-principal consent for the establishment of leather footwear, goods and accessories park, plastic procession park, handloom/handicraft, electric vehicle park, transport hub in the upcoming industrial sectors. "The authority will keep these park and hub in priority while designing the industrial sectors," said CEO

Arunveer Singh.

Apart from this, the board has allocated Rs 76.98 crore for the smart village project while a total of Rs 157 crore has been approved in the board for development of all the villages.