State’s City And Industrial Development Corporation Presents Budget Of INR 11,900 Crore For FY 2024-25

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Vijay Singhal, the Vice-Chairman and Managing Director of City and Industrial Development Corporation (CIDCO), has presented the corporation’s this financial year’s budget. This budget includes a major allocation of INR 11,839.29 crore for various projects such as Navi Mumbai International Airport, housing, Metro, NAINA, and new water supply schemes.

Singhal stated that CIDCO’s initiatives, including the airport, NAINA, and the mass housing scheme, are critical now and at an important stage too. “In addition to these major projects, this budget includes significant funding for transit and water supplies. This will help us finish projects on time,” he said.

Singhal stated that CIDCO has always been at the forefront of city development, with a long and illustrious history spanning over five decades, and that the organisation has been pushed by “a deep-rooted sense of purpose to make cities”.

Other significant projects include nodal works, Navi Mumbai Metro, Thane cluster development, Ulwe coastline road, Kharghar-Turbhe Link Road, railways, Palghar district headquarters, corporate projects, and new town developments.

CIDCO has never submitted this enormous budget until today. The revised budget forecasts for 2023-2024 were INR 7,025 crore (expenditure) against earnings of INR 7,076 crore, which proved to be a massive revenue generator.