Northeast India hails interim budget for 2019-20

Northeast India has hailed the interim budget for 2019-20 published by Union Minister for Finance, Piyush Goyal.

Assam finance minister, HimantaBiswaSarma said the budget 2019-20 has significantly grown the allocation of Northeast India and Assam is going to get a large chunk of it. Allocation for the North Eastern Areas is being proposed to be increased by 21% to Rs Rs 58,166 crore in 2019-20.

Goyal stated, “The people of North East have also received significant benefits of infrastructure development. Arunachal Pradesh came on the air map currently and Meghalaya, Tripura, and Mizoram have come on India’s rail map for the first time.”

The Finance Minister stated that the Government will introduce container cargo movement to the North East by improving the navigation capacity of the Brahmaputra river.

Managing Director of NumaligarhRefiney Limited (NRL) S K Barua said, “Allocation Rs 19,000 crore for construction of rural roads in 2019/20, our industries in Northeast India require substantial infrastructure support and this will help. This Government has always been focused on the growth of Northeast India. And the increase in allocation will ensure speedy development of infrastructure in the North Eastern Region including Sikkim. Both physical and social infrastructure sectors need to be focused.”

He further said, “Union budget presented a range of welcome measures which will help support business, in particular, the agriculture and food sector and good to hear the positive economic indicators of India. We will all support the Government vision to make India a Five Trillion Dollar Economy in the next five years A number of initiatives of growth seen to be taken in the farm sector. The budget will increase the purchasing power of the middle class & which will help boost consumption.”

Budget analyst in Guwahati and former chairman of Federation of Industry and Commerce of North East Region (FINER), R. S Joshi said “All in one, still interim” is the beauty of this budget. Well thought out strategy to assuage the distress, in varying degree, of all sections of society.”

The local industry body, FINER stated the current Government’s focus on the development of North East India is also reflected in the budget.

The finance club of IIM Shillong observed that the Budget 2019 was historic in its own sense as it dared to aim the areas which were not targeted to this depth by any of the previous government.

“The Extension of the Kisan Credit Card Scheme to Animal Husbandry and Fisheries sector along with 2% loan waiver to this sector is going to augment the growth of Animal Husbandry and fisheries sector which contributes around 1.1% to the Indian GDP empowering the 1.45 crore people involved in this venture”, the club added.

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