GNIDA Allocates Budget For Noida Airport, Metro Rail Expansion

GNIDA allocated Rs 1,200 crore for land acquisition, and Rs 500 crore was earmarked for the ambitious Noida Airport project

During its 134th Board Meeting held in Greater Noida, the Greater Noida Industrial Development Authority (GNIDA) approved a budget of Rs 4,859 crore for the fiscal year 2024-25. 

The meeting, chaired by GNIDA Chairman and Uttar Pradesh's Industrial and Infrastructural Development Commissioner Manoj Kumar Singh, saw the allocation of funds for key projects.

The GNIDA allocated Rs 1,200 crore for land acquisition, signalling its commitment to expanding industrial and infrastructural development in the region. Additionally, Rs 500 crore was earmarked for the ambitious Noida Airport project, aiming to bolster connectivity and enhance economic prospects for the area. Furthermore, a sum of Rs 30 crore was allocated for the expansion of the metro rail network, reinforcing efforts to improve public transportation facilities.

According to a statement released by the GNIDA, the budget breakdown includes Rs 1,272 crore for development and construction works. Moreover, Rs 1,500 crore has been set aside for servicing GNIDA's loans, demonstrating a proactive approach towards financial management.

The GNIDA expects to generate revenues totaling Rs 4,810 crore through land allotments, with contributions expected from various sectors. This includes Rs 1,680 crore from builders, Rs 704 crore from industries, and Rs 590 crore from commercial establishments.

Highlighting the authority's focus on holistic development, the budget includes allocations for rural development and 'smart villages,' with Rs 520 crore designated for these initiatives. Furthermore, Rs 957 crore has been provisioned for urban and health services, reflecting GNIDA's commitment to improving quality of life for residents.

In addition to these allocations, Rs 280 crore has been set aside for electric substations, emphasising the importance of reliable power infrastructure in sustaining industrial and urban growth.

The budget allocation underscores GNIDA's strategic vision to foster sustainable development, enhance connectivity, and create conducive environments for economic growth and community well-being in Greater Noida.

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