YEIDA reveals Rs 100 billion budget

18 Mar 2024 CW Team

The Yamuna Expressway Industrial Development Authority (YEIDA) announced on March 12 that they had allocated nearly Rs 100 billion for the fiscal year 2024-25. It was disclosed that Rs 7 billion had been earmarked for the expansion of the Noida Airport, and Rs 3 billion had been allocated for rapid rail connectivity.

According to officials, 80 percent of the total budget would be dedicated to land acquisition. YEIDA's plan entails the establishment of manufacturing clusters catering to electric vehicles (EVs), semiconductors, Data Parks, and other specialized industries.

YEIDA, a body under the Uttar Pradesh government overseeing land management along the 165-km-long Yamuna Expressway from Greater Noida to Agra, also declared a 5.41 percent increase in land costs within its jurisdiction.

During the 80th meeting chaired by Anil Sagar, the chairman of YEIDA, the budget was presented to the Board and subsequently approved.

Arun Vir Singh, YEIDA's CEO, stated, We have devised an ambitious developmental plan encompassing the establishment of new sectors and new allotments, particularly in innovative domains such as semiconductors and Data Park. We are in the process of acquiring land for eight new sectors, thereby expanding our land bank.

He further added, Consequently, this year's budget has seen a significant rise from Rs 56.30 billion to Rs 99.92 billion, nearly doubling compared to the previous year. Out of the total budget, more than Rs 60 billion will be utilised for land acquisition, while Rs 20 billion will be allocated for development projects.

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