Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday said the state government was working on a plan to establish a “Financial City” in the western region of the state near a proposed “Film City”.
He made the announcement during his interaction about the “Film City” with producers, directors, singers and actors from the film industry.
Sources in the government said the Yamuna Expressway Industrial Development Authority (YEIDA) was asked to look for an area where the financial hub could be established. It will provide a single platform for different financial needs.
“It will basically be a financial hub, where facilities will be provided to different financial institutions and services so that they can make it their headquarters. It will aim to provide a single platform for all financial services and requirements,” said a senior government officer.
Since the selection of suitable land is the primary requirement at present, the YEIDA has been asked to explore west UP for a suitable plot as it has access to areas with good connectivity. Land rates in its areas were comparatively cheaper than in Noida or Greater Noida, the officer added.
In 2016, a similar financial hub, on the lines of Gujarat International Financial Tech-city, was proposed to be set up in Noida. However, the project did not take off.