UP Government Funds for Expansion of YEIDA, UPSIDA, UPEIDA

• 19 Jan 2024

Why in News?

Recently, the Uttar Pradesh government approved Rs 2,940 crore in funds for industrial bodies the Yamuna Expressway Industrial Development Authority (YEIDA), the UP State Industrial Development Authority (UPSIDA) and UP Expressways Industrial Development Authority (UPEIDA).

Key Points

• The newly formed Bundelkhand Industrial Development Authority has earlier been granted Rs 3,000 crore for land acquisition.
• In the financial year 2023-24, Rs 8,000 crore was set aside for industrial expansion in the state. 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.
• A total of Rs 7,042.67 crore has been approved for the expansion of all industrial development authorities.
• The state government is committed to attract investment and make Uttar Pradesh a leading investment destination in the country.

Yamuna Expressway Industrial Development Authority (YEIDA)

• It has been created under the UP Industrial Development Act, 1976 for the systematic development of their respective notified areas abutting Delhi, which if not planned, would have been prone to unauthorized urban growth.

The Uttar Pradesh Expressways Industrial Development Authority (UPEIDA)

• It is an authority set up in 2007 by the Government of Uttar Pradesh to develop expressway projects in the state.
• The headquarters of UPEIDA is located at Paryatan Bhawan in Gomti Nagar, Lucknow.