Budget Will Immensely Help North East India, Feels ICC
Agartala, Feb 01, 2025, By Our Correspondent231
The Indian Chamber of Commerce (ICC), Assam and Meghalaya Committee, has lauded the Union Budget 2025-26 for laying a strong foundation for the socio-economic transformation of Assam and the larger northeastern region.
Sarat Kumar Jain, Chairman of the ICC Assam and Meghalaya Committee, praised Union Finance Minister Nirmala Sitharaman for acknowledging the unique needs and potential of the northeast in the budget.
Jain welcomed the announcement of a new urea plant in Namrup, Assam, with an annual production capacity of 12.7 lakh metric tons. This initiative aims to boost the region’s urea supply, enhance agricultural productivity, and ensure self-sufficiency in fertilizer production. Additionally, he lauded the PM Dhan Dhanya Krishi Yojna, which is set to benefit 17 million farmers in 100 low-productivity districts by promoting agricultural growth and strengthening storage facilities at the panchayat level.
The ICC also expressed strong support for the expansion of the UDAN scheme, which will enhance regional connectivity by adding 120 new destinations and benefit approximately four crore passengers. This move is expected to significantly boost tourism, trade, and economic opportunities in the northeast.
Mahesh Saharia, Chairman of the North East Regional Council of the ICC, commended the budget’s role in driving India toward ‘Viksit Bharat’. He emphasized that the budget builds a strong foundation for socio-economic development, particularly in the areas of healthcare, tourism, exports, and taxation.
Saharia highlighted critical healthcare initiatives, including the exemption of 36 life-saving drugs from Basic Customs Duty (BCD) and the inclusion of six additional medicines under a 5 percent concessional duty, thereby making healthcare more accessible and affordable. The exemption for bulk drugs and the addition of 37 new medicines were also welcomed as significant steps towards improving public health infrastructure.
Furthermore, he acknowledged the government’s focus on boosting tourism, including visa-free waivers for select tourists and the revitalization of 50 key tourist destinations. He also appreciated the formal recognition of one crore gig workers, ensuring better social security benefits and job stability for this sector.
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The ICC reaffirmed its commitment to collaborating with the government and other stakeholders to ensure the successful implementation of these initiatives and to ensure that the benefits reach every corner of the northeastern region.
According to the ICC, the Union Budget 2025-26 is growth-oriented, with a strong emphasis on infrastructure development, manufacturing, financial incentives for savings, and addressing the challenges of agriculture, Micro, Small, and Medium Enterprises (MSMEs), tourism, education, skill development, public health, exports, and connectivity. The budget’s concerted efforts aim to promote inclusive growth and sustainable development across various sectors.
Pic Courtesy Indis Today, taken from Internet