Lion’s share of ₹5.62k-cr Yeida budget goes to infra projects, airport

The board comprising senior officials of Gautam Budh Nagar district and chaired by additional chief secretary Arvind Kumar met in Lucknow and approved a budget of ₹562,485.31 crore for fiscal 2023-24

The 76th board meeting of the Yamuna Expressway Industrial Development Authority (Yeida) on Monday allotted ₹1,395 crore for development of various infrastructure projects, ₹805 crore for the Noida greenfield airport, ₹500 crore for pod taxi and Metro in its budget for the financial year 2023-24.

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The board comprising senior officials of Gautam Budh Nagar district and chaired by additional chief secretary Arvind Kumar met in Lucknow and approved a budget of ₹562,485.31 crore for fiscal 2023-24. The overall budgetary allocation is 23% more than the budget approved for fiscal 2022-23, said officials.

The authority has allotted ₹1,851 crore for land acquisition, and ₹250 crore for payment of debt, among other expenses.

“The board has allocated lion’s share for land acquisition and development of infrastructure projects. As the airport will become functional by end of 2024, we need to develop the required infrastructure around the site before that. Therefore, the board has allocated most of its yearly budget to infrastructure projects,” said Arun Vir Singh, chief executive officer, Yeida.

Yeida has also approved the dedicated building by-laws for the aviation hub to be developed around Noida airport in Jewar. With this approval, Yeida has a new chapter in its urban town planning regulations to govern the development of buildings and other structures in the aviation hub.

“Yeida has earmarked 5,800 hectares for the development of the aviation hub that includes the greenfield airport, maintenance, repair and operations hub. Yeida has the onus to approve the building maps,” said Singh.

Apart from that, the authority has also approved a decision to build a peripheral road around the 5,800 hectare aviation hub. The peripheral road is to ensure that no unauthorised development takes place around the aviation hub. Yeida has decided to acquire all categories of land in a 500m radius of the aviation hub, said officials. “We will acquire the land and start work on the road immediately,” said Singh.