UP govt approves formation of Bundelkhand Industrial Development Authority

 On September 12th in Lucknow, the Uttar Pradesh government, under the leadership of Chief Minister Yogi Adityanath, granted approval for the establishment of the 'Bundelkhand Industrial Development Authority.' This move mirrors the successful model of Noida and aims to accelerate industrial growth in the underdeveloped Bundelkhand region.

The decision was reached during a state cabinet meeting, which was overseen by Chief Minister Yogi Adityanath and attended by Finance and Parliamentary Affairs Minister Suresh Khanna.

The Bundelkhand Industrial Development Authority is designed to replicate the model of Noida, which was established in 1976 for the development of townships. This new authority will operate under the Bundelkhand Chief Minister Industrial Area Expansion and New Industrial Area Promotion Scheme, as explained by Minister Khanna.

Notably, this marks the first time in 47 years that an industrial development authority of this nature is being created.

In the initial phase of this ambitious project, an industrial city will be established by acquiring approximately 35,000 acres of land from 33 revenue villages in Jhansi. The cost of this land acquisition is estimated at Rs 6,312 crore.

Additionally, Minister Khanna highlighted that for the formation of the Bundelkhand Industrial Development Authority, the government allocated Rs 5,000 crore in the financial year 2022-23. Furthermore, in the current fiscal year (2023-24), a provision of Rs 5,000 crore in the form of a loan has been made available under the Chief Minister Industrial Area Expansion and New Industrial Area Promotion Scheme.

Expressing his appreciation for this significant government decision, Minister Khanna remarked, "This is a momentous decision in itself. I believe that the area surrounding Jhansi will experience substantial development, significantly contributing to the progress of Uttar Pradesh."

Jhansi, recognized as a major hub of railway connectivity, will see land acquisition along the Jhansi-Lalitpur and Jhansi-Gwalior roads to support this development initiative.