Noida: Gold mine of Uttar Pradesh

Updated on Dec 03, 2014 02:33 PM IST
In the last financial year, the three industrial development authorities of western Uttar Pradesh — Noida, Greater Noida and Yamuna expressway — had together approved a budget of Rs 20,000 crore for the development of the region.
HT Image
HT Image
Hindustan Times | By, Noida

In the last financial year, the three industrial development authorities of western Uttar Pradesh — Noida, Greater Noida and Yamuna expressway — had together approved a budget of Rs 20,000 crore for the development of the region.

In contrast, the Lucknow development authority’s annual budget (2013-14) was just Rs2, 000 crore. No wonder, leaders, bureaucrats, engineers and other officials lobby hard to manage a job in Noida — considered a gold mine in the state’s power circles. Addressing an election rally in Noida in 2012, Congress leader Rahul Gandhi had said: “Two rival parties — Samajwadi party and Bahujan Samaj party — ruling the state for over a decade treated Noida as a juice machine that produces money.”

Many agree with Gandhi as they very well understand that if one wants to make easy money, Noida is the place to be.

“Noida is way above many other cities in budget allocation. This is the reason all leaders want to get involved in Noida,” said a UP government official.

Leaders and officials treat Noida as a gold mine because out of the state’s seven industrial authorities, the New Okhla Industrial Development Authority (Noida) — with a Rs10,000-crore annual budget — is the richest in Uttar Pradesh. “As the government changes in Lucknow, private contractors are also changed. Now, nearly 60 per cent private contractors belong to Etha, Mainpuri and Kannauj district — all SP strongholds. Before the I-T raids on Yadav Singh, hundreds of aspiring contractors from the Yadav stronghold would throng the Noida and Greater Noida authorities for government projects,” said official.

Noida officials said there is always a huge amount of revenue surplus as they are unable to spend the entire amount on development or on maintaining civic amenities each year.

“The Noida authority had deposited Rs3,500 crore as fixed deposits in various banks because of surplus funds. And now Akhilesh Yadav has demanded Rs500 crore for eastern UP cities as the government thinks Noida is better developed,” said a senior Noida authority official.

“Lease rent and interest from builders are the biggest contributors to Noida’s revenue. Besides, the authority gets huge revenue out of water and property transfer charges,” said official.

Boasting about its economic prosperity, an official said: “We have so much surplus funds with us that we can run the city even if we do not take any taxes from our allottees for next 5 years in a row,” said another official.

Close Story

Less time to read?

Try Quickreads

  • The skywalk near Viviana Mall in Thane Praful Gangurde/HT Photo

    Locals flag safety concerns on skywalk nearly two km from CM Shinde’s residence

    Four days after a college student was allegedly molested on a skywalk at Manpada, local residents have raised safety concerns over another skywalk in the heart of the city which they claim is taken over by miscreants at night as there are no adequate lights and CCTV cameras. Interestingly, this skywalk near Viviana Mall is barely a few metres from former minister Jitendra Awhad's home and around two km from chief minister Eknath Shinde's residence.

  • Mumbai, India – August 16, 2018: A view of Ramtek Bungalow, at Walkeshwar, in Mumbai, India, on Thursday, Aug 16, 2018. (Photo by Bhushan Koyande/HT) (HT PHOTO)

    Newly-appointed ministers lobby for posh Malabar Hill official bungalows

    With its private beach and a sprawling lawn, Ramtek bungalow in Malabar Hill leads the list, followed by Royal Stone, a colonial-style bungalow with wooden flooring located in Peddar Road. While Maharashtra Assembly Speaker Rahul Narvekar and revenue minister Radhakrishna Vikhe Patil have requested for Royal Stone, forest minister Sudhir Mungantiwar, labour minister Suresh Khade and Vikhe-Patil are vying for Ramtek bungalow, the largest bungalow after Varsha, the official residence of the chief minister.

  • Mumbai, India - August 15, 2022: Two senior citizens died after the ceiling portion from the first floor of the ground-plus-two Moti Chhaya Building collapsed on Monday evening at Mulund (East), in Mumbai, India, on Monday, August 15, 2022. (Photo by Satish Bate/ Hindustan Times) (Satish Bate/HT PHOTO)

    Mulund building collapse: Roof gives way, killing old couple

    Mumbai: Two senior citizens lost their lives after the ceiling of a residential structure in which they resided came down on Monday evening. The deceased were identified as Devshankar Nathalal Shukla (93) and his wife, Arkhiben Devshankar Shukla (87). According to the Brihanmumbai Municipal Corporation's (BMC) disaster control cell, the incident took place at around 7.46 pm, on the first floor of the building.

  • The police had to resort to lathi-charge in Shivamogga.

    Violence erupts over Savarkar, Tipu photos in Shivamogga, Section 144 imposed

    Karnataka Police on Monday imposed curbs under Section 144 of the Criminal Procedure Code (CrPC) in Shivamogga town after a clash between two groups over banners featuring Rashtriya Swayamsevak Sangh ideologue V D Savarkar and 18th Century ruler Tipu Sultan. A senior police officer familiar with the matter said tension broke out after a banner featuring Savarkar was put up at Amir Ahmed Circle, in Shivamogga, as part of Independence Day celebrations.

  • A policeman salutes the national flag, in Bengaluru. (PTI)

    In a first, Tricolour hoisted at Idgah Maidan amid tight vigil

    In a first, the national flag was hoisted amid tight security on Monday morning at Idgah Maidan in Chamarajpet. The Tricolour was hoisted at the Idgah Maidan by assistant commissioner of Bengaluru (Urban) MG Shivanna. Chamarajpet MLA Zameer Ahmed Khan, member of Lok Sabha from Bengaluru Central constituency PC Mohan, additional commissioner of police (Bengaluru west) Sandeep Patil and deputy commissioner of police (Bengaluru west) Laxman Nimbargi were also present in the event.

Story Saved
Saved Articles
My Reads
Sign out
New Delhi 0C
Tuesday, August 16, 2022
Start 15 Days Free Trial Subscribe Now