Guwahati : Union Finance Minister Arun Jaitley has allocated an amount of Rs 47,994 crore for development of North Eastern region in the Union Budget 2018-19.
Presenting the last full budget of the present BJP-led NDA government, Arun Jaitley has allocated Rs 47,994.88 crore for entire North Eastern region development across all ministries by including Rs 1,014.09 crore for aviation infrastructure in the region.
The budget allocated Rs 6,210 crore to the Ministry of Roads Transport and Highways, Rs 4177.95 crore to the Department of Health and Family Welfare, Rs 4610.89 to the Department of Agriculture, Cooperation and Farmers' Welfare, Rs 1274.00 crore to the Ministry of Development of North Eastern Region.
The Union Finance Minister has allocated Rs 1,014.09 crore for civil aviation infrastructure in the region to revive of 50 airports and viability gap funding for improving aviation infrastructure in the area under the flagship regional connectivity scheme.
In the Union Budget for the next fiscal, the finance ministry has allocated Rs 528 crore to enhance the North East Industrial & Investment Promotion Policy (NEIIPP), but the allocation amount is reduced compared to this fiscal.
In 2017-18, the finance ministry had allocated Rs 783 crore.
On the other hand, the finance ministry also reduced allocation to the Bodo Territorial Area Districts (BTAD) and Dima Hasao Autonomous Council in Assam in the Union Budget 2018-19.
In previous budget, Rs 50 crore was allocated to BTAD and Rs 30 to Dima Hasao Autonomous Council, but this time fund allocation has reduced to Rs 20 crore each to BTAD and Dima Hasao Autonomous Council.
On the other hand, Rs 40 crore allocated to another sixth schedule district council Karbi Anglong Autonomous Council (KAAC).
Meanwhile, the Federation of Industry & Commerce of North Eastern Region (FINER) said that, most outstanding feature of the Union Budget is to vigorously support the Farm Sector, which would alleviate the suffering of farmers feeding the country of 130 billion.
“Cluster approach in farm sector and 100 percent deduction to companies registered as farm producer companies will encourage much needed entrepreneurship spirit in agriculture sector. Big boost to Health, Education, Infrastructure, capex for Railway and affordable housing inclining more to rural economy augurs well for an inclusive development of the country. Though market seems to have digested undesired fiscal deficit blow and reintroduction of long term capital Gain Tax (done away with in 2004), Government’s move regarding reduction of corporate tax is half hearted and increased cess from 3% to 4% will not be welcomed by tax payers.Whereas senior citizens and salaried class will have a sigh of meager relief, self employed business fraternity will be disappointed for not getting a fair treatment. Though the Budget contains good measures for MSME sector, Finance Minister’s announcement that as MSME’s are extremely important for the economy of the country, he would soon come out with measures to help deal with NPA’s of SMEs will go a long way in addressing MSMEs concerns,” FINER said.
Though there is no announcement regarding centre’s Industrial Policy for North East region (on line of NEIIPP) and measures for Tea sector in the budget.
(Reporting by Hemanta Kumar Nath)
