Nava Raipur, the brand new hi-tech capital area of Chhattisgarh, has reportedly achieved a milestone by turning into the primary absolutely debt-free metropolis in India.
The Naya Raipur Improvement Authority, established in 2006 as an impartial nodal company with the mandate of constructing a wise metropolis, has efficiently cleared its complete excellent debt of Rs 1,788 crore, borrowed from the Centre and nationalised banks, PTI reported.
Situated roughly 20 km from the previous Raipur metropolis, Nava Raipur has been designed from scratch, with phased developments underway to understand Prime Minister Narendra Modi’s imaginative and prescient of ‘Developed India @2047’. Chief Minister Vishnu Deo Sai said, “This vital milestone is about to speed up the tempo of infrastructure improvement and implementation of latest initiatives on this trendy and thoroughly deliberate capital metropolis of Chhattisgarh.”
The state authorities is concentrated on remodeling Nava Raipur into a contemporary, employment-driven metropolis with world-class amenities, attracting vital personal investments, in accordance with PTI.
The NRDA had beforehand availed substantial loans primarily for land acquisition, building of roads, authorities workplaces, and institutional amenities. Nonetheless, servicing the debt and related curiosity funds had positioned strain on the Authority’s money move. “With monetary self-discipline, strategic planning, and transparency, now we have not solely achieved debt freedom for the Authority, but additionally paved the best way for self-sufficiency and larger heights of improvement,” the Chief Minister added.
Via the third supplementary funds for 2024–25, the state authorities allotted Rs 1,043 crore to the Nava Raipur Atal Nagar Improvement Authority, together with extra funds for industrial areas, additional boosting income era.
Now debt-free, all properties beneath the Authority are unencumbered, facilitating smoother transactions and business actions. This can fast-track infrastructure initiatives, improve public providers, and help new initiatives resembling medical tourism, textile industries, and the event of Nava Raipur as a serious hub for the fashionable IT sector, PTI reported.
(With inputs from PTI).
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