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States » NorthPosted at: Apr 18 2025 7:52PM


UPSIDA board passes budget of Rs 6,190 cr for 2025-26

Lucknow, Apr 18 (UNI) To accelerate industrial development in Uttar Pradesh, a comprehensive budget of Rs 6,190 crore was approved for financial year 2025-26 during the board meeting of the UP State Industrial Development Authority (UPSIDA) on Friday, official sources said here.
Sources said that the key decisions included reorganising industrial areas based on their development progress, moving forward with the allocation process of spinning mills and finalising the ex-LIDA Master Plan 2041.
Sources said that the meeting was chaired by Chief Secretary and UPSIDA Chairman Manoj Kumar Singh which was attended by UPSIDA Chief Executive Officer (CEO) Mayur Maheshwari and other senior officials.
Sources said, "Several strategic proposals aimed at giving fresh momentum to industrial growth in the state were discussed and approved. The highlight of the meeting was the approval of the Rs 6,190 crore budget for 2025-26, which is expected to play a pivotal role in strengthening the state's industrial infrastructure and launching new projects."
Sources said that it was directed that the Ex-LIDA Master Plan 2041 be submitted to the government after addressing public objections and suggestions. "The proposals approved during the board meeting included allotment and rate determination of 6 spinning mills, which the government made available to the authority. Approval was also given for the plan maps of Industrial Area Utelwa, Amethi, ATL Pratapgarh, Spinning Mill Banda, Spinning Mill Meja, Spinning Mill Malwa Fatehpur. It was directed that advertisements for allotment should be published soon and the allotment process should be started," they said.
CEO Mayur Maheshwari said, "UPSIDA is fully committed to fostering investment in the state and enhancing the industrial ecosystem. The approved budget will facilitate the launch of new projects across various industrial areas in Uttar Pradesh, generating employment opportunities and boosting the local economy."
He said that the upcoming Pharma Park in Lalitpur and regional development initiatives like Ex-LIDA will significantly strengthen the state's industrial infrastructure. "These projects represent a major stride toward positioning Uttar Pradesh as the most preferred investment destination in the country," he said.
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Tags: #UPSIDA board passes budget of Rs 6#190 cr for 2025-26
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