New Delhi (Agency): In a move to accelerate industrial growth, the Uttar Pradesh (UP) government has approved the formation of the ‘Bundelkhand Industrial Development Authority.’ The decision was made during a state cabinet meeting chaired by UP Chief Minister Yogi Adityanath.
“This is the first time in 47 years that such an industrial development authority is being created,” said Finance and Parliamentary Affairs Minister Suresh Khanna. The new authority will be modeled after Noida, which was established in 1976 to develop townships. It will be initiated under the Bundelkhand Chief Minister Industrial Area Expansion and New Industrial Area Promotion Scheme.
The first phase of the project will involve the establishment of an industrial city by acquiring 35,000 acres of land from 33 revenue villages in Jhansi. The land is estimated to cost Rs 6,312 crore. “I believe this will contribute significantly to the development of Uttar Pradesh,” Khanna added.
For the financial year 2022-23, the government has allocated Rs 5,000 crore for the establishment of the Bundelkhand Industrial Development Authority. Additionally, for the year 2023-24, another Rs 5,000 crore has been provided in the form of a loan under the Chief Minister Industrial Area Expansion and New Industrial Area Promotion Scheme.
The Bundelkhand region is notably underdeveloped and this initiative aims to change that. The area around Jhansi, a significant center for railway connectivity, is expected to benefit greatly from this decision. Land will be acquired on the Jhansi-Lalitpur and Jhansi-Gwalior roads for the purpose.
Khanna praised the government’s initiative saying, “This is a big decision. The area around Jhansi will see large-scale development, which is critical for the overall growth of Uttar Pradesh.”
This project is a part of the government’s larger vision to promote industrialization and create job opportunities, especially in regions that have lagged behind. It is a step that many hope will bring about economic and social transformation in the Bundelkhand region.