Vijay Singhal, VC & MD of CIDCO presented CIDCO’s budget for the financial year of 2024-25 on March 05, 2024. In this budget, substantial provision of INR 11,839.29 crores has been made for various projects including Navi Mumbai International Airport, Housing, Metro, NAINA and Water Supply Scheme.
“CIDCOs projects such as Navi Mumbai International Airport, NAINA, Mass Housing Scheme, etc. are at an important stage. Along with these ambitious projects, other schemes which are important for the common people of Navi Mumbai such as transportation projects and water supply schemes have also been allocated with a substantial amount of more than eleven thousand nine hundred crore rupees in the budget of 2024-25. This will help in completing these projects within the scheduled time frame and will also provide a relief to the common man”, said Vijay Singhal, Vice Chairman & Managing Director, CIDCO.
CIDCO has always been at the forefront of city-making, with a long and storied history that spans more than 50 years. It has been driven by a deep-rooted sense of purpose to make cities, and have made remarkable progress towards achieving this aim through its ambitious projects. CIDCO is committed towards development and has made tremendous strides in e-governance, with a focus on transparency and ease of access to its services for residents of Navi Mumbai & CIDCO jurisdiction area as well.
In this budget, an amount of Rs. 11,839.29 Crores has been allocated for projects like Navi Mumbai International Airport, NAINA (Navi Mumbai Airport Influence Notified Area), Nodal Works, Navi Mumbai Metro Project, Water Supply Scheme, Thane Cluster Development, Ulwe Coastal Road, Kharghar-Turbhe Link Road, railways, Palghar District Headquarter, corporate projects and new town projects.
CIDCO Budget 2024-25 at a Glance:
Budget Estimates (Expenditure) | ||
| Sr. No | Project | Amount in Crores |
| 1 | Housing | Rs. 4,018.74 |
| 2 | Airport | Rs. 977.15 |
| 3 | Nodal Works | Rs. 811.90 |
| 4 | Water Supply Projects | Rs. 730.16 |
| 5 | Metro Rail Projects | Rs. 610.00 |
| 6 | NAINA | Rs. 569.37 |
| 7 | Thane Cluster Project | Rs. 400.23 |
| 8 | Ulwe Coastal Road | Rs. 400.22 |
| 9 | Kharghar-Turbhe Link Road | Rs. 300.00 |
| 10 | Railway | Rs. 284.28 |
| 11 | Palghar Projects | Rs. 118.65 |
| 12 | Corporate Projects | Rs. 24.40 |
| 13 | New Towns | Rs. 603.59 |
| 14 | Other | Rs. 1990.60 |
| Total | Rs. 11839.29 |
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Looking at the past, CIDCO has always achieved remarkable success in providing state of the art infrastructure for the betterment of the society. And accordingly, CIDCO has presented a highest budget of INR 11,839.29 crores (Expenditure) for 2024-25 against receipts of INR 11902.69 Crore with great sense of responsibility and accountability towards the development of the country. The revised budget estimates of 2023-2024 were INR 7025 crores (expenditure) against receipt of INR 7076 crores which was also to the higher side and proved to be the most gigantic revenue generator.
With the pillars of four principles of Transparency, Accountability, Better Accounting Practices and Performance, in the CIDCO budget, the aim of achieving desired growth for the state and corporation is clearly visible.