This document, numbered 77/2024/|/779953/2024/003-77-3002-003-8-2022 and dated October 24, 2024, is issued by Om Prakash Yadav, Joint Secretary, Government of Uttar Pradesh, to the Chief Executive Officer of UPIDA (Uttar Pradesh Expressways Industrial Development Authority) in Lucknow.
The subject concerns the allocation of funds for the payment of interest on loans taken from HUDCO (Housing and Urban Development Corporation Limited) for land acquisition in the Ganga Expressway Project for the financial year 2024-25.
The document approves the release of ₹4538.02 lakh (₹45,38,02,000) for the period from September 1, 2024, to November 30, 2024, to cover the interest due.
Key conditions and restrictions include:
* UPIDA must withdraw the approved funds according to immediate requirements.
* The funds are to be used only for the approved work items within the project and within the approved cost limits.
* UPIDA is responsible for submitting the utilization certificate and audited accounts to the Office of the Accountant General (U.P.) Prayagraj, the Office of Local Fund Audit (U.P.) Prayagraj, and the government within the specified timeframe.
* The withdrawal of funds should be done according to the rules and with competent level approvals, and the guidelines issued by the Office Memorandum No. 1/2024/B-1-294/ten-2024-231/2024 dated 04-March, 2024, of Finance (Income-Expenditure) Section-1 should be fully followed in the expenditure of the approved amount.
* The funds must be used according to the terms stated in the orders/memoranda issued by the Finance Department, Budget Manual, and Financial Handbook.
* Any interest earned on the withdrawn funds must be deposited into the treasury.
* Remaining conditions of the original approval order of the project will remain the same.
The expenditure is to be charged under Grant No. 007, Head of Account 2852808002200, towards assistance for interest payable on loans taken by UPIDA from financial institutions for the construction of the Ganga Expressway Project under the standard item 20 assistance grant - general (non-salary).
This order is issued under the authority delegated to the Administrative Department in Office Memorandum No. 1/2024/B-1-294/दस-2024-231/2024, dated March 4, 2024, of Finance (Income-Expenditure) Section-1.
The order is electronically issued and does not require a signature. The authenticity of the order can be verified on the website http://shasanadesh.up.gov.in.
Copies of the order are being sent to various officials, including private secretaries to ministers, accountants general, treasurers, directors of financial statistics and local fund audit, the finance controller of UPIDA, and sections within the finance and industrial development departments.
Key Entities Referenced
Ganga Expressway Project: A project for which funds are being allocated for land acquisition related to HUDCO loan interest payments.
Uttar Pradesh Expressway Industrial Development Authority (UPEIDA): The agency responsible for implementing the Ganga Expressway Project and utilizing allocated funds.
Housing and Urban Development Corporation Limited (HUDCO): The lending institution that provided the loan for land acquisition on which interest payments are due
Lucknow: Location where the main office of UPEIDA is located.