Union Budget’s NE Focus: Rs 19,689.34 Cr Allocated For Development of Region

The Union Budget 2024-25 which was presented by Finance Minister Nirmala Sitharaman yesterday, has allocated a sum of Rs 19,689.34 crore for further development of Northeast. The region is often referred to as Asthalakshmi (Goddess of Wealth) by Prime Minister Narendra Modi.

The budget has allocated Rs 10,376 crore for the development of railways projects in the region. Briefing the media today, Railways Minister Ashwini Vaishnaw said that already 18 railway projects with an investment of Rs 74,972 crore is going on across northeast.

An amount of Rs 5,900 crore has been announced for the DoNER ministry set up in 2017 for the development of northeast. This year’s allocation is Rs 8 crore more than Rs 5,892 crore allocated in 2023-24.

Another substantial allocation of Rs 2,491 crore was made to the North East Special Infrastructure Development Scheme (NESIDS).

Rs 820 crore has been allocated for Central Sector Schemes/Projects under the North East Council, up from Rs 800 crore given in 2023-24.

An amount of Rs 32.34 crore has been allocated for NEC secretariat and for special development package for the development of the 10 autonomous district council areas of northeast. In 2023-24, the amount was Rs 31.74 crore.

Furthermore, Rs 70 crore has been allocated for investments in the North East Enterprise Development Scheme (NEEDS), which aims to stimulate economic growth in the region by identifying, financing, and nurturing environmentally sustainable industrial infrastructure and agro-horticulture projects.

In addition to these initiatives, the finance minister announced several other significant measures exclusive to the Northeast region in the Union Budget 2023-24.

Aimed towards financial inclusion, the government plans to set up 100 branches of India Post Payment Bank across the region.

Moreover, the unique Pradhan Mantri Janjatiya Unnat Gram Abhiyan (PMJUGA) will be implemented to cover tribal families to improve their standard of living and overall quality of life.

Under PMJUGA, more than 63,000 villages and five crore tribal people are set to benefit.

The finance minister also announced flood-relief funds for Assam and Sikkim as part of the budgetary provisions.

“Assam grapples with floods every year by the Brahmaputra River and its tributaries, originating outside India. We will provide assistance to Assam for flood management and related projects,” Sitharaman said in her Budget speech in Lok Sabha yesterday.

“Sikkim recently experienced devastating flash floods and landslides that caused widespread destruction across the state. Our government will provide the necessary assistance,” Sitharaman stated during her Budget speech.