NAVI MUMBAI: The City and Industrial Development Corporation (CIDCO) has presented a ₹14,130 crore budget for the year 2025-26, with the target to develop Navi Mumbai into a business hub.
The ₹10 crore surplus budget, which is higher by ₹8,632.73 crore from last year’s revised budget, was presented by CIDCO vice-chairman and managing director Vijay Singhal to the board at the Nirmal office on Thursday. The budget has plans for several major projects, including a logistics park and an international standard EduCity.
The budget takes into account the dynamic changes set to take place in the economy of the region with the start of Navi Mumbai International Airport later this year. This will lead to increase in trade, container traffic and industrial operations, which the budget has identified as opportunities and planned infrastructure accordingly.
According to Singhal, “Various ambitious projects are set to drive the city’s transformation while significantly contributing to the nation’s economic growth. In the budget, 16 important projects are being undertaken by CIDCO, for which allocations have been made. These will boost the development of Navi Mumbai city along with that of Panvel and Uran talukas that include CIDCO area. We have planned an industrial city with a logistics park, international standard educational institutions and a host of infrastructure projects along with housing for all.”
Singhal further said that CIDCO has successfully sustained its financial progress from the previous year in terms of both revenue and expenditure. “Accordingly, we have allocated a sufficient provision for our key projects in this budget, which will help expedite their implementation. The corresponding calendar year is expected to witness significant milestones in the execution of these projects,” he said.
{{/usCountry}}Singhal further said that CIDCO has successfully sustained its financial progress from the previous year in terms of both revenue and expenditure. “Accordingly, we have allocated a sufficient provision for our key projects in this budget, which will help expedite their implementation. The corresponding calendar year is expected to witness significant milestones in the execution of these projects,” he said.
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