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 Growth Authority, established in 2006 as an unbiased nodal company with the mandate of constructing a sensible 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 grasp Prime Minister Narendra Modi’s imaginative and prescient of ‘Developed India @2047’. Chief Minister Vishnu Deo Sai said, “This important milestone is about to speed up the tempo of infrastructure growth and implementation of latest tasks on this fashionable and punctiliously deliberate capital metropolis of Chhattisgarh.”
The state authorities is concentrated on reworking Nava Raipur into a contemporary, employment-driven metropolis with world-class amenities, attracting important personal investments, based on PTI.
The NRDA had beforehand availed substantial loans primarily for land acquisition, development of roads, authorities workplaces, and institutional amenities. Nonetheless, servicing the debt and related curiosity funds had positioned stress on the Authority’s money move. “With monetary self-discipline, strategic planning, and transparency, we have now not solely achieved debt freedom for the Authority, but in addition paved the best way for self-sufficiency and higher heights of growth,” the Chief Minister added.
