State received Rs 850 lakh under North East Venture Fund
Source: Chronicle News Service
Imphal, August 05 2021:
North East Venture Fund (NEVF) set up by North Eastern Development Finance Corporation Ltd.
(NEDFi) under the Ministry of Development of North Eastern Region (MDoNER) in September, 2017, with a view to encourage entrepreneurs and Start-ups in North Eastern Region, has sanctioned Rs 850 lakh to the state in 2020-21.The prime focus of the fund is to act as an enabler to stimulate enterprise building in the North Eastern Region, thereby contributing towards creation of an ecosystem required for nurturing and development of enterprises in North Eastern Region.
DoNER minister G Kishan Reddy the told Rajya Sabha in a written reply on Thursday that proposals sanctioned to the state under the North East Venture Fund during the last three years are Rs 525 lakh in 2018-19; Rs 100 lakh in 2019-20; and Rs 850 in 2020-21.The minister said that various Central Sector Schemes/Centrally Sponsored Schemes are implemented by Central Ministries/Departments under 10% Gross Budgetary Support (GBS).
Besides, DoNER ministry incoordination with Central Ministries/Departments is focusing on the development of physical and social infrastructure in order to improve connectivity and socio economic development in North Eastern Region.
Several initiatives have been undertaken by the Union Government to develop North Eastern Region holistically, especially Assam, for improving basic infrastructure and providing road, rail, water, telecom and air connectivity in the region.
Initiatives taken up in the state include hnphal Airport; mobile connectivity in uncovered villages and seamless coverage along National Highways; Development of National Waterway-2 (River Brahmaputra, length: 891 km) Sadia to Bangladesh Border and National Water-way-16 (River Barak, length: 121 km); Indradhanush Gas Grid Project covering all NER States; North Eastern Region Power System Improvement Project (NERP-SIP) in six NER states of Assam, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura among others.