In the budget tabled by Vijay Singhal, the Vice-Chairman and Managing Director of CIDCO, a substantial provision of Rs 14,120 crore (expenditure) was made against the receipt of Rs 14,130 crore for various projects
The budget was presented by CIDCO MD Vijay Singhal on March 28. Representational pic
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The City And Industrial Development Corporation (CIDCO) presented its budget for financial year of 2025-26 on March 28.
In the budget tabled by Vijay Singhal, the Vice-Chairman and Managing Director of CIDCO, a substantial provision of Rs 14,120 crore (expenditure) was made against the receipt of Rs 14,130 crore for various projects, including the Navi Mumbai International Airport, housing, Navi Mumbai Metro, Navi Mumbai Airport Influence Notified Area (NAINA), International Educity and water supply scheme.
"CIDCO's projects such as Navi Mumbai International Airport, NAINA, International Educity, Mass Housing Scheme, etc are at important stage. Along with these ambitious projects, other schemes which are important for the common people of Navi Mumbai such as connectivity projects and water supply schemes have also been allocated with a substantial amount of Rs 14,120 crore in the budget of 2025-26. This will help in completing these projects within the scheduled time frame and will also provide a relief to the common man," said Singhal.
The development authority has a history of about 55 years.
"Looking at the past, CIDCO has always achieved a remarkable success in providing state of the art infrastructure for the betterment of the society. And accordingly, CIDCO has presented a highest budget of Rs. 14,120 crores (Expenditure) for 2025-26 against receipts of Rs. 14,130 crore with great sense of responsibility and accountability towards the development of the country," the development body said in a press release, issued on Friday.
It also stated that it is committed to the "pillars of four principles of transparency, accountability, better accounting practices and performance" with an aim of achieving desired growth for the state and corporation.
"CIDCO is committed towards development and have 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," the press release further stated.
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