The impact of the Greater Noida Authority’s debt burden is on the annual budget. The Authority has cut a budget of around 600 crore rupees. The new special project was not announced in this board meeting. In the next one year, the Authority will spend about 2200 crores on land acquisition and development works. With this, the Board has decided to open the Open House every week to promote the industry. Last year’s budget was Rs. 7074 crores.
On Monday, the Greater Noida Authority’s 108th Board Meeting took place. After the meeting, the Chief Executive Officer Devshish Panda said, “Greater Noida Authority has a debt of 6800 crores, hence no new project has been announced yet. At the same time, a very low budget allotment has been done for some special projects. A new scheme will be brought to improve financial position.
Budget Sanction: Budget approval for the financial year 2017-18 was approved in the board meeting. CEO Panda said that this time budget of Rs. 6443 crores has been approved. The Authority will be spent Rs 1096 crores on development and construction work. Along with this, the Authority will spend 1100 crores on acquisition of land in the next one year. The Authority will spend 147 crores on maintenance and development work in the city’s sectors.
Where, How Much Does it Cost?: At the same time, Rs 132 crores will be spent on maintenance and development works in the outskirts of the sector. This year, the Authority will spend Rs 415 crores on the Authority’s Gangajal Project, Sewerage Treatment Plant, Heliport, Eco Park and Dadri Railway Over Bridge, while Rs 15 crores will be spent on Greenery and Horticulture. The Authority will spend Rs 240 crores on urban services such as road repair, water supply etc. For rural development, the Authority has set a budget of Rs. 114 crores. The CEO said that this budget for the construction of office building, sports complex and metro has been kept at Rs 584.25 crore.
Not Increase the Allotment Rate of Plots: The Authority has not made any kind of increase in the allotment rate of plots of all categories. Given the status of the property market, the board has taken this decision. At the same time, the Authority has now decided to release contracts of more than one lakh rupees through e-tendering.
CEO Devishesh Panda said that according to the report prepared by the committee formed on the revision of the allotment rate, many schemes of the Authority have not been hit in the last one year. The reason for this was explained that the allotment rate is high and lower the market rate. After this, it has been decided to not increase the rate of any plot.
Initiatives for Transparency: Now, for the transparency in the functioning of the Authority and avoiding the allegations of tender of the fans, the contracts of more than one lakh rupees will now be given through e-tendering. CEO Panda told that contracts worth more than five lakh rupees have so far been given through e-tendering.