Yeida Passes Rs 3,897-Cr Budget With Focus On Farmers
In its 63rd meeting on May 7, the Yamuna Expressway Industrial Development Authority (Yeida) approved a Budget of Rs 3,897 crore for the financial year 2018-19. This is 78 per cent higher than its previous year’s Budget of Rs 2,174 crore.
Here’s a look at who gets what:
Focus on farmers
Farmers are the focus ─ of the total Budget, Rs 1,400 crore would be used to compensate farmers. This money will be used to pay farmers, whose land had been acquired for development projects such as the airport, roads, industries or housing.
The construction of the Jewar airport, for example, will start from October next year. This could displace 1,900 families, and they need to be compensated.
Along with land compensation, says Yeida Chairman Prabhat Kumar, village development is also key focus of the authority. Eighty villages spread over 165-km along the Yamuna Expressway would be developed at an expense of Rs 100 crore. The authority would also hire supervisors to monitor the progress of the village development work.
“We have to resolve their (farmers) issues on priority. We have also decided to appoint a sweeper in each of the 80 villages to ensure cleanliness,” says Kumar.
The Yeida has approved a Budget of Rs 1,230 crore for developmental work which includes construction of roads, parks and allied facilities.
An estimated Rs 770 crore would go as repayment to banks and other agencies.
The Yeida’s target revenue for this year is Rs 2,809 crore. However, Kumar says that the authority hopes to recover only Rs 2,595 crore through sale of land and recovery through builders.
While the Yeida generated Rs 1,040 crore in revenue last year, it expects more through sale of industrial plots this year.
There are 28 companies that are interested in setting up industries in this region, and six of them have already deposited 10 per cent of their project cost. The money so received would be spent on developmental work, says the Yeida chairman.