The Uttar Pradesh Cabinet has approved transformative projects to enhance connectivity, infrastructure, and renewable energy. Key initiatives include the 17.435-km Aqua Metro Line extension from Noida to Greater Noida, jointly funded by the central and state governments, and the incorporation of 80 villages into the Kanpur Development Authority under the Chief Minister Urban Expansion Scheme. Additionally, INR 3,000 crore has been allocated for urban development, and a Guarantee Redemption Fund of INR 8,170 crore has been established to ensure financial stability. Bundelkhand will see renewable energy growth with an 800 MW solar plant in Chitrakoot, boosting sustainable development in the state.
The Uttar Pradesh Cabinet has recently approved a series of key projects aimed at enhancing urban connectivity, infrastructure, and renewable energy in the state. These initiatives include the extension of the Aqua Metro Line between Noida and Greater Noida, the incorporation of 80 villages into the Kanpur Development Authority, the creation of a Guarantee Redemption Fund for financial stability, and the development of solar energy projects in Bundelkhand under the Green Energy Corridor. Additionally, amendments to tax revenue regulations aim to bolster state finances.The project will connect Sector 51 in Noida to Knowledge Park-20 in Greater Noida, spanning 17.435 kilometres.
Finance Minister Suresh Khanna stated that the central and state governments would each contribute INR 394 crore towards the project. Additionally, the state government plans to fund 40% of the project through the Noida Authority and 60% through the Greater Noida Authority.
The Cabinet also approved a proposal to incorporate 80 villages into the Kanpur Development Authority's jurisdiction as part of a strategy for holistic regional development. This expansion will be implemented under the Chief Minister Urban Expansion Scheme.
An allocation of INR 3,000 crore was cleared for the development of urban areas, with half of the funds earmarked for land acquisition for nine development authorities and the Housing Development Council. The Cabinet further approved a proposal to provide INR 4,164.16 crore as seed capital to various development authorities, with INR 1,285 crore set aside for the current fiscal year. In adherence to guidelines from the Central Finance Commission and the Comptroller and Auditor General, the state government announced the creation of a Guarantee Redemption Fund. The fund, amounting to INR 8,170 crore, will address any potential defaults in loan payments by government departments to banks or financial institutions.
The government plans to budget INR 1,634 crore annually for this fund. Khanna clarified that no state department is currently in default. The Cabinet adopted amendments to a Central Act, allowing Extra Neutral Alcohol to be moved out of the GST regime and brought under VAT. This change will enable the state to retain 100% of the tax revenue, compared to the 50% share it previously received. Officials noted that this shift would not affect consumers directly.
Power Minister A K Sharma announced that approval has been granted for a solar energy project in Bundelkhand. Across the region, solar projects with a combined capacity of 4,000 MW are at various stages of development.
One significant project, an 800 MW solar plant in Chitrakoot, is currently under construction. The INR 619.90 crore project is part of the Indian government's Green Energy Corridor initiative. The project includes two power transmission lines of 400/220 kV and 500 MVA capacity. Funding will be sourced through a 33% capital grant from the central government, 20% equity contribution from the state government, and a 47% loan from Germany's KfW Bank.
The Indian government has approved over INR 4,000 crore worth of projects under the Green Energy Corridor initiative. These developments are expected to strengthen infrastructure, improve regional connectivity, and promote sustainable energy solutions across Uttar Pradesh.
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