CIDCO presents ₹10.5K-cr budget for 2023-24

The budget priorities are housing, metro, water supply, railway, NAINA and new towns. CIDCO plans to make its Navi Mumbai metro project operational in April while upgrading its golf course from 9 holes to 18 holes by the year end.

Navi Mumbai: The CIDCO vice-chairman and managing director on Thursday presented a ₹10,544.63-crore budget of the nodal agency for the financial year 2023-24. The budget is 21.79% more than the revised estimates of ₹8,657.54 crore for 2022-2023.

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The budget priorities are housing, metro, water supply, railway, NAINA and new towns. CIDCO plans to make its Navi Mumbai metro project operational in April while upgrading its golf course from 9 holes to 18 holes by the year end.

The budget, Mukherjee said, is based on the principles of transparency, accountability, better accounting practice and performance.

“CIDCO endeavours to make Navi Mumbai self-contained and build a strong foundation not only for the current population but also for future generations. The upcoming Navi Mumbai International Airport (NMIA) will play a pivotal role in the field of urban development, thereby bolstering the economy of the country,” he said.

CIDCO has made significant progress in several key projects, including NMIA, the Mass Housing Scheme under PMAY, the Navi Mumbai Metro, NAINA, Corporate Park, Water Transport Terminal, and water supply strengthening initiatives, said Mukherjee, adding, “We have also made significant strides in implementing e-governance initiatives.”

Speaking of the plans ahead, he said that the logistics park, corporate park, aerocity, and NAINA are just a few of the upcoming areas that they have meticulously planned and envisioned to bolster Navi Mumbai’s reputation as a globally sought-after destination.

“Our plans also entail designing and planning for the metro rail, with lines 2, 3, and 4, connecting Belapur to NMIA and Mankhurd, and of course, NAINA. From April 2023, the complete Navi Mumbai Metro Line-1 is scheduled to become operational,” said Mukherjee.

Concluded the MD, “We are confident that this budget and our plans for the upcoming year will set the foundation for an unprecedented era of progress and prosperity, unleashing a plethora of transformative possibilities and firmly establishing Navi Mumbai as the jewel in the crown of Maharashtra.”