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Guwahati: The North East of India has got a budget bonanza this year that was keeping in mind Prime Minister Narendra Modi’s vision to develop the region as well as the assembly elections in four states in 2023.
The budget allocation to the Ministry of DoNER has been more than doubled to Rs 5,892 crore from Rs 2,800.44 crore in 2022-23.
The allocation to the Prime Minister’s Development Initiative for North East Region (PM-DevINE) has also been increased more than fivefold to Rs 2,200 crore from Rs 400 crore. PM-DevINE was announced during the Union Budget 2022-23 to address the developmental gaps in the region.
While three states — Meghalaya, Tripura and Nagaland — are going to polls this month, Mizoram will have elections in the second half of the year.
Finance Minister Nirmala Sitharaman also announced the Centre’s plan to revive 50 more airports, heliports, water aerodromes and advance landing grounds for better connectivity in the region.
The initiatives which will gain from the increased allocation to the DoNER Ministry include central sector schemes, the North East Special Infrastructure Development Scheme and PM-DevINE.
The Non-Lapsable Central Pool of Resources for North East and Sikkim will now account for the majority of the Rs 5,892 crore allocation for DoNER, or Rs 2,491 crore, up from Rs 1,233 crore in the revised projections of 2022–23.
The Cabinet approved the North East Special Infrastructure Development Scheme (NESIDS) to ensure targeted development of the region by providing financial assistance for infrastructure projects related to water supply, power, connectivity, especially the projects promoting tourism, and social sector projects for the development of infrastructure in primary and secondary sectors of education and health. The provision of Rs 2,491 crore is entirely for NESIDS.
According to Assam Chief Minister Himanta Biswa Sarma, the budget will help the underprivileged and lower middle class. “We will receive substantial funding for capital expenses,” he added.
In the budget speech, Sitharaman said, “The Government’s philosophy of Sabka Saath Sabka Vikas has facilitated inclusive development covering in specific, farmers, women, youth, OBCs, Scheduled Castes, Scheduled Tribes, divyangjan and economically weaker sections, and overall priority for the underprivileged (vanchiton ko variyata). There has also been a sustained focus on Jammu & Kashmir, Ladakh and the North-East. This Budget builds on those efforts… Prime Minister Vajpayee’s government had formed the Ministry of Tribal Affairs and the Department of Development of North-Eastern Region to provide a sharper focus to the objective of ‘reaching the last mile’, our government has formed the ministries of AYUSH, Fisheries, Animal Husbandry and Dairying, Skill Development, Jal Shakti and Cooperation.”
The Federation of Industry and Commerce of North Eastern Region (FINER) has hailed the Budget 2023.
The budget is “citizen-centric, growth-oriented” and “clearly sets the priorities going ahead, aiming at a stable tax regime”, said Bajrang Lohia of FINER.
However, FINER pointed out that there was no mention of the Industrial Policy for the North East, which expired last year. The share in Private Investment in the North East has shrunk substantially over the years after the completion of the period of North East Industrial and Investment Promotion Policy (NEIIPP, 2007). “We would hope that the announcement thereof would be there sooner than later,” it added.
The capital investment is being increased substantially to Rs 10 lakh crore, which is three times the outlet that was provided in 2019. This substantial increase in recent years is to enhance growth and job creation. The rise in investment in infrastructure and productive capacity will be a boon to employment generation. It is quite appreciative that the highest ever capital inlay of Rs 2.4 lakh crore for railways has been laid aside, FINER said in a press communique.
The budget also emphasised setting up AI centres, which will have a huge impact on the sectors of agriculture and health. It envisages an open-source digital infrastructure for agriculture and an agriculture accelerator fund focused on youth in rural areas. There is also a push for making India a millet hub. Moreover, the Agriculture Accelerator Fund will encourage innovative start-ups in rural areas.
“The Union Budget 2023-24 is an all-inclusive fiscal booster dose for the industries, which would enable the Indian economy to be back on a high growth trajectory, and also pave the way for the next 25 years. The simplified tax benefits would not only enhance MSMEs, cooperatives and start-ups, it also rationalizes tax benefits of authorities, boards and commissions,” FINER said.
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