The Indore Development Authority (IDA) board on Tuesday approved budget proposals for 2015-16, which primarily focuses on developing 2,300 affordable houses, roads and environment.
The size of this year's budget was considerably cut down compared to IDA's past budgets. For 2015-16, the IDA proposed a planned outlay of Rs368.43 crore in developmental projects and estimates to gross Rs373.78 crore by the end of the financial year.
IDA chairman Shankar Lalwani said, "Learning from the past experiences, we have decided to downsize the budget estimates this year and put forth a realistic one."
In the financial year 2014-15, the board proposed to spend `548.50 crore on developmental projects, but could only spend Rs238.89 crore by the end of the financial year.
The budget proposal mainly focuses in developing low cost housing for low income groups and economically weaker sections of the society.
"We plan to construct 594 houses for economically weaker sections, 1,700 houses for low income groups and another 500 other residential units," the chairman said.
The budget proposals are in accordance with the state chief minister Shivraj Singh Chouhan's vision of housing for poor and urban development minister Kailash Vijayvargiya's roadmap of Indore Development Plan 2021, he said.
The budget allocated Rs49 crore for development of low cost housing. The budget also finds mention of constructing a bus stand on bypass road near Nayata Mundla.
To construct 2,800 houses; 594 for economically weaker sections; 1,700 for low income groups.
New Bus stand near Nayata Mundla
Shaheed Smarak (martyr memorial) near Velocity Mall
A Community Hall in Scheme no. 136
Rs 33.41 crore for environment protection and beautification
Proper connectivity from Dhar Road to Indore Airport