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Greater Noida approves over Rs6,000 crore budget

In the last financial year, the authority had approved a budget of Rs7,074 crore

noida Updated: Jun 05, 2017 23:30 IST
Vinod Rajput
Vinod Rajput
Hindustan Times
Greater Noida,budget,industrial development
The meeting took place at the authority’s new office in Knowledge Park 4 on June 5.(HT Photo)

The Greater Noida authority on Monday held its 108th board meeting and approved a budget of Rs6,443.05 crore for the financial year 2017-18.

Of this amount, it will spend Rs1,100 crore on distribution of 64% hiked compensation to farmers whose land was acquired for urbanisation.

“Our objective is to address farmers’ issues on a priority basis. We will distribute the hiked land compensation to farmers of Gulistanpur village. Earlier, the authority could not give compensation to farmers of this village, but now we will distribute it to all those eligible,” said Debasish Panda, chief executive officer (CEO), Greater Noida authority.

The authority has also allocated Rs114 crore for rural development, while development of urban services such as construction of drains, roads and other services have been allotted Rs1,096 crore.

“We have also earmarked Rs3,510.8 crore for other departments so that we can develop the required facilities,” said Panda.

Last year, the authority had approved a budget of Rs7,074 crore to be spent on various projects.

The authority has now decided to focus on industrial development instead of real estate. Greater Noida was established in 1992 as a planned industrial town spread over 40,000 hectares of agricultural land, which is double the area of neighbouring Noida. However, industrial development took a back seat over the years and the authority allotted around 50% of the land for residential development.

“Now, we want to change that focus and encourage industrial development. We have decided to hand hold industrialists and encourage them to invest in Greater Noida. We will organise an open house for industrialists every Tuesday to solve their issues instantly,” said Panda.

This week, the authority will organise an open house on Thursday for information technology (IT) firms and manufacturing units.

“Those who want land for setting up units that deal with IT-enabled services or manufacturing units can come on Thursday to know about the schemes on offer. We will also provide on-the-spot statutory clearances related to approvals. We want to make it easy for those who want to do business in Greater Noida,” said the CEO.

The authority plans to make industrial land allotment easy so that anyone who wants to set an industry does not face any problems.

Among other measures, it has decided to allot all projects above Rs1 lakh through e-tendering to end corruption and shift a project on 571 plots in sectors 2 and 3 elsewhere because of a land dispute.

First Published: Jun 05, 2017 23:30 IST