Industry bodies in the northeast largely appreciated the Union Budget 2022-23, terming it as a balanced Budget, adding that the Prime Minister’s Development Initiative for North-East (PM-DevINE) would enable livelihood activities for the youth and women of the region.
The North East Council Chairman of the Confederation of Indian Industry (CII), Abhijit Barooah, said that earmarking Rs 1,500 crore for PM-DevINE to be implemented by the North Eastern Council (NEC) would enable livelihood activities for the youth and women of the region.
“I am sure that this initiative will definitely improve the economic scenario of the region in the long run. Out of the Rs 1,500 crore, Rs 100 crore has been allocated for the pilot project construction of bamboo-link road at different locations in various districts of Mizoram, which is commendable and has been the result of the tireless efforts of Mizoram Chief Minister Zoramthanga,” Barooah, who is also the Managing Director of Premier Cryogenics Ltd, told the media.
CII Assam state council Chairman, and Managing Director of Amrit Cements Ltd, Pradeep Bagla, said that the Budget is a very balanced one that aims for inclusive growth in different vital sectors.
“Thirty-five per cent increase in capital expenditure would drive infrastructure and jobs. The Finance Minister’s special attention to the NE region is praiseworthy,” Bagla said.
The Federation of Industry and Commerce of North Eastern Region (FINER) leader Pabitra Buragohain hailed the Budget and hoped that the new Northeast Investment and Industrial scheme, which is expected to be announced by March this year, would provide for spurring investment in the region after investments came down from 8.3 per cent in 2017 to 0.02 per cent in 2019, after the validity of NEIIPP-2007 was over.
“It is evident from the allocation of Rs 1,500 crore towards various infrastructure projects across the northeast that the Union government is committed to the development of the region,” FINER said in a statement.
Former President of FINER, R.S. Joshi, commented that the Union Budget is certainly an all-inclusive fiscal booster dose which would not only enable the Indian economy to be back on a high growth trajectory, but also pave the way for the next 25 years with a big digital push.