Big Reward for Greater Noida: GNIDA approves a budget of over Rs 5,100 crore

Office of The Greater Noida Industrial Development Authority. (File Picture)

A budget of over Rs 5,100 crore for 2022-23, allocating Rs 2,000 crore from it for land acquisition and Rs 1,400 crore for development works in villages and residential sectors were approved by The Greater Noida Industrial Development Authority (GNIDA) on Tuesday. 

This is the biggest budget for any fiscal year since 2017-18 for GNIDA, which held its 126th Board meeting on Tuesday. After the meeting, GNIDA CEO Narendra Bhooshan said in the last few years, the trend of industrial investors towards Greater Noida has increased rapidly. He said, "Many investors are asking for land for setting up industries. The authority is constantly trying to provide land to them."

At the same time Bhooshan said, this year the authority is expected to have an income of about Rs 7,322 crore, which includes the amount received from the allottees as well as other revenue.
Despite the pandemic, the GNIDA has received revenue of about Rs 2,200 crore in the last financial year, according to the statement.

Additional Chief Secretary, Industrial Department of Uttar Pradesh government, Arvind Kumar virtually attended the meeting. Noida Authority CEO Ritu Maheshwari, Yamuna Expressway Authority CEO Arun Vir Singh, GNIDA Additional CEO Aditi Singh, Deep Chandra and Amandeep Duli, OSD Sachin Singh, among others, were present as board members.

The GNIDA had a budget of Rs 6,443 crore in 2017-18 followed by Rs 3,639 crore in 2018-19, Rs 4,260 crore in 2019-20, Rs 4,369 crore in 2020- 21 and Rs 4,398 crore in 2021-22, according to officials.