New Delhi, Jul 23, 2024, By Our Correspondent
FICCI North East Advisory Council (NEAC) on Tuesday hailed the Union budget saying that it has taken positive steps towards the holistic development of the northeastern states.
FICCI-NEAC Chairman Ranjit Barthakur said that significant allocations for infrastructure and connectivity, particularly the Rs 1.11 lakh crore for capital expenditure and specific assistance for flood management in Assam in the budget would bridge the regional disparities and enhance the connectivity of the northeast with the rest of the country.
“This budget truly recognizes and addresses the unique needs of our region. We need substantial investment in connectivity infrastructure in the northeast, particularly in riverways, international road and rail connectivity as well as airways,” Barthakur told the media.
He said that the allocation of Rs 1.52 lakh crore for agriculture and allied sectors, along with the targeted support for shrimp production and the creation of large-scale vegetable clusters, is poised to transform the agricultural landscape of the northeastern states.
The emphasis on natural farming and increased agricultural credit would improve the overall agricultural output and the northeast would benefit from this.
Noting that the focus on green growth, including the PM Surya Ghar Muft Bijli Yojana, highlights the importance of integrating environmental considerations into economic development, the FICCI-NEAC Chairman said that the northeastern states, with their rich biodiversity and unique ecosystems, would benefit greatly from these initiatives.
Barthakur said: “The next generation reforms outlined in the budget are crucial for the northeastern states. Collaboration with states for land-related reforms and urban planning will address our unique challenges and improve productivity and market efficiency. This will drive overall economic development in the region.”
Ravi Patwa, Chairman FICCI Assam State Council, said that the budget's support for MSMEs, including credit guarantee schemes and financial support for food irradiation units, would significantly benefit the northeastern states.
Special financial incentives for MSMEs in the northeastern states would enable them to compete globally and contribute to the region’s economic growth, he said.
Speaking on the tourism sector, Joydeep Gupta, Co-Chairman of the FICCI Assam State Council, said that the promotion of tourism in the northeastern states is a welcome move.
“The comprehensive development initiatives and investments in cultural heritage sites and natural landscapes would make the northeast a key tourist destination.
"This will not only enhance our region’s visibility but also create new economic opportunities for local communities,” he said.