NOIDA, Gr NOIDA, Yamuna authorities prepare for Budget

As budget of all the three industrial development authorities of Gautam Buddh Nagar — NOIDA, Greater NOIDA and Yamuna — are scheduled next week, allocation of money are likely on various developmental projects. The officials, who are busy in finalising the budget, hinted that the priority would be land acquisition and compensation for farmers. 

All the three authorities, that are expected to table the budget of over Rs 20,000 crore this time, hope to develop their respective areas as major infrastructure hubs, at par with major Indian cities.

Sources informed that the Noida Authority is all set to allocate nearly 50 per cent of the budget to various development projects. Besides Metro connectivity, the authority will spend about Rs 5,000 crore on projects like construction of elevated roads, flyovers and underpasses to circumvent traffic bottlenecks in the city, as well as construction of major link roads between Noida and Delhi. In Greater Noida, while a portion of the budget, about Rs 3,500-4,000 crore will be allocated for land acquisition and compensation to farmers, the rest will be set aside for infrastructure projects including Metro. 

Yamuna Authority is expected to allocate a lower budget than last year, which was Rs 6,229 crore. For the next financial year, it has set about Rs 4,000 crore as its budget. While farmer compensation will lead this year’s budget with almost Rs 1,500 crore, the authority also plans to put aside about Rs 1,000 crore for infrastructure development.

A sizable share is also expected to be used to provide basic services like healthcare, power, water, transport and a riverfront corridor along the Hindon to contain land encroachment. A large sum is also expected to be kept aside for city maintenance and to enhance security. Sources said Noida Authority had, till December last year, spent about 50 per cent of its 2015-16 budget. 

The balance will be revised and added to the fiscal year 2016-17. As per the report, over Rs 20,000 crore will be allocated to the three areas for the next financial year. 

While Noida is likely to put aside about Rs 9,000 crore for financial year 2016-17, Greater Noida is likely to spend Rs 7,000 crore, while Yamuna Authority is expected to table a budget of over Rs 4,000 crore. The three authorities are likely to expedite several key infrastructure projects in 2016.