Uttar Pradesh Government Approves Rs. 2,940 Crore for Expansion of YEIDA, UPSIDA, UPEIDA

In a significant development, the Uttar Pradesh government has given the green light to allocate Rs 2,940 crore for the expansion of key industrial bodies, namely Yamuna Expressway Industrial Development Authority (YEIDA), UP State Industrial Development Authority (UPSIDA), and UP Expressways Industrial Development Authority (UPEIDA). Cabinet minister Nand Gopal Gupta, who oversees industrial development, made the announcement on Wednesday.

The allocated funds will facilitate the expansion plans of these industrial authorities, aiming to boost industrial growth and infrastructure in the state. Nand Gopal Gupta revealed that in the financial year 2023-24, a substantial budget of Rs 8,000 crore was earmarked for industrial expansion in Uttar Pradesh. From this allocation, Rs 3,000 crore was earlier granted to the newly formed Bundelkhand Industrial Development Authority for land acquisition.

Providing a breakdown of the latest allocation, Gupta stated, "Of the remaining Rs 5,000 crore, Rs 1,000 crore has been approved for UPEIDA, Rs 1,500 crore for YEIDA, and Rs 440 crore for UPSIDA." This strategic distribution of funds reflects the government's commitment to fostering growth across different industrial development authorities.

The cumulative approved funds for the expansion of all industrial development authorities now stand at Rs 7,042.67 crore. Minister Nand Gopal Gupta emphasized the state government's dedication to attracting investments, positioning Uttar Pradesh as a leading investment destination in the country. The substantial budgetary allocations underscore the government's proactive approach to industrial development and infrastructure enhancement in Uttar Pradesh.

BS