Indore Development Authority tables Rs 1,597 cr surplus budget with focus on transit hubs & smart infra

Indore Development Authority (IDA) on Wednesday proposed a budget for 2025-26, projecting a total income of Rs 1597 crore and expenditure of Rs 1508.88 crore, with a surplus of Rs 88.12 crore.

Indore Divisional Commissioner and IDA chairman Deepak Singh outlined the budget's focus on comprehensive development across various sectors. 'Significant allocations have been made for road construction, electrification, flyovers, underground services, building construction, and horticulture development,' he said.

'The construction of Inter-State Bus Terminal (ISBT) on Super Corridor is in its final stage, with over 95% of the work completed. A provision of Rs 15.50 crore has been made for the remaining work, which is expected to be finished in 2025-26,' IDA CEO RP Ahirwar said, adding that provision of around Rs 435 crore has been made to complete development of ongoing residential schemes and planning for a few new ones in 2025-26.

The budget also includes provisions for renovation of temples, construction of ISBTs on Bhopal and Dhar roads, development of Tigaria Badshah pond, and preparing a detailed project report for riverfront development.

Ahirwar said that a service-equipped residential complex for senior citizens has been constructed in Scheme No. 134, featuring 32 flats, a multi-purpose hall, parking, physiotherapy room, and 24-hour ambulance service. 'Tenders have been invited for the operation and maintenance of the building,' he said.

'A multi-phase startup park is planned, with the first phase including a shopping mall, startup offices, and a parking tower. The first phase, which will be initiated this year, is expected to be completed within five years,' he said, adding that IDA is constructing four CM Rise Schools, with Rs 46 crore allocated for their completion in 2025.

'Construction of the eight km MR-12 road, linking bypass to Ujjain road, will be completed for 2028 Simhastha,' he said, adding that there is also a provision in the budget for development of Morod grain market to facilitate farmers in selling their produce. 'Rs two crore have been allocated for digitisation of IDA records while Rs 25 crore have been allocated for housing construction under Pradhan Mantri Awas Yojana 2.0,' he said.

Last year, IDA had presented a budget estimate of Rs 1,135.80 crore, which included total expenditure of Rs 1,093.32 crore and a closing balance of Rs 936.24 crore. The revised budget of the current financial year, which is awaited, will help in the assessment of IDA's proposed planning and execution of the projects in 2024-25.

Source: https://infra.economictimes.indiatimes.com/news/urban-infrastructure/indore-development-authority-tables-rs-1597-cr-surplus-budget-with-focus-on-transit-hubs-smart-infra/119575378