Noida to allocate Rs 9, 000 crore for annual budget

The Noida authority on Wednesday said that it is likely to approve R 9, 000 crore annual budget for financial year 2014-15, in its board meet scheduled to take place on February 12.

The Noida authority on Wednesday said that it is likely to approve Rs 9, 000 crore annual budget for financial year 2014-15, in its board meet scheduled to take place on February 12.

The authority will spend Rs 5, 000 on developing infrastructure including multi-level parking, bridges across Yamuna, Expressway and new hospital building among others.

“As the Noida chief executive officer (CEO)- Rama Raman has marked the 2014 as ‘year of infrastructure’. This budget would lay special emphasis on new infrastructure projects fund allocation. Extending metro connectivity further deep into Noida, and Greater Noida, improving connectivity between Noida and Delhi with new bridge to be build across Yamuna are some of the priority projects for this financial year,” said a senior Noida authority official, requesting anonymity.

The authority has decided to allocate Rs 1750 crore for metro projects. These metro projects are from Delhi’s Kalindi Kunj to Noida’s Botanical Garden, City Center to sector 62 towards NH-24 and from City Center to Noida Extension.

“This year, the authority will also spend money on formation of Noida metro rail company (NMRC), which is crucial for taking metro to Greater Noida from Noida. We will allocate R 1, 700 crore for land compensation to farmers, who have been demanding early disbursal of their hiked compensation,” said official.

Uttar Pradesh industrial development commissioner (IDC)- Alok Ranjan will visit Noida once again on January 31 to inspect various developmental projects, which had been inaugurated by the UP chief minister- Akhilesh Yadav on April 2 from Lucknow.

“Work on a multi-level parking project in sector 18, hospital building in sector 39, City Center underpass and girls degree college in sector 51 inaugurated by CM last year is in full swing. IDC will inspect all these projects, and submit a report back to CM,” said another official.

Residents said that UP government ahead of general elections is busy taking populist measures, but it will be a challenge to complete on these projects on time.
“Only time will tell whether UP government will be able to complete these projects exactly on time. And will not disrupt pace of development after general elections be over,” said Satveer Singh a resident of sector 61.