Gujarat Budget: PM Modi’s Pet Project GIFT City Gets ₹152 Cr Boost For Fintech Hub, Riverfront Development

The pet project of prime minister Narendra Modi, the Gandhinagar International Fin-Tech (GIFT) City in Gujarat will get a boost of Rs. 152 crore, helping it's expansion from 900 acre to 3300 acres. The announcement was made in the ongoing budget session of the state assembly on Friday.

Kanubhai's 3rd budget presentation

The Gujarat finance minister Kanubhai Desai, while presenting his third budget consecutively as FM, in his budget speech announced Rs. 52 crore for setting up a Fintech hub in GIFT City on Friday. He also announced Rs. 100 crore provision for building a Riverfront on the bank of River Sabarmati in GIFT City.

In his speech, the minister said, “Gift City has emerged as a global finance hub. Gift city will be developed as a planned green city by expanding it from 900 acres to 3,300 acres. This will create a unique identity of Gift City as a "City of a million dreams”. With completion of the proposed development works in Gift City, the concepts of “Walk to Work” and “Live-Work-Play community” will be realized. These development works will include a 4.5 km long riverfront, recreational zone, educational institutes, healthcare facilities, metro connectivity and central park.”

The finance minister announced, “a provision of ₹52 crore to set up ‘Fin-Tech Hub’ at Gift City and a provision of ₹100 crore to develop Sabarmati Riverfront near Gift City, Gandhinagar.”