North East set to gain from Budget 2023: CII
Source: Chronicle News Service
Imphal, February 01 2023:
Confederation of Indian Industry (CII) North East Council chairman & Amrit Cement Limited managing director Pradeep Bagla has maintained that the northeast (NE) region is set to gain substantially from the Union Budget 2023 presented by finance minister Nirmala Sitharaman on Wednesday.
In a release, the CII NE Council chairman observed that with major capital expenditure outlays and an outlook for employment generation, it is a welcome budget with a progressive outlook, balancing economic, social and ecological stability and development of the country and region.
He also mentioned that the announcements in the infrastructure sector, including enhancing capital outlay to Rs 2.40 lakh crore to the Railways and government's announcement of push for transport infra projects through revitalisation of 50 additional airports, heliports, water aerodromes and advanced landing zones would certainly facilitate last mile connectivity, hence boosting tourism.
The infusion of Rs 10,000 crore fund for urban development will boost the urbanisation efforts of the state governments, he added.
Pradeep also said that in the agriculture sector, making available quality planting materials especially for millets, Agri accelerator fund to support agri startups and young entrepreneurs for innovative solutions will benefit and encourage aspiring startups, entrepreneurs and farmers in NE.
The increased credit target of Rs 20 lakh crore for agriculture sector with focus on animal husbandry, dairy ing and fisheries will fuel growth and enhance farmers' incomes.
Further, the support and focus accorded to natural farming will boost the organic outlook of the NE states, he emphasised.
Pradeep continued that encouraging startup, the reduction of more than 39,000 compliances along with decriminalisation of more than 3,400 legal provisions will provide major boosts to EoDB for startups in the region.
The National Data Governance Policy for startups is a great initiative in order to provide access to anonymous data and the setting up three AI CoEs in partnership with the private sector in India will boost AI startups in the country and region, he further stated.
On the other hand, CII NE immediate past chairman and Premier Cryogenics Limited MD Abhijit Barooah welcomed the Budget 2023 and expressed that the announcement of setting up of 157 new nursing colleges in co-locations with 157 medical colleges launched since 2014 will also enable India to reap demographic dividend.
Indian nurses especially, from NE states are in demand across the world and the region will benefit with identification of few such colleges in the region, he noted, while adding that upgradation of SHGs in terms of support in procurement of raw material and skilling will provide strong dividends to the NE economy.
Abhijit also pointed out that energy sector overall has generated major focus and NE with four oil refineries is expected to gain in view of the allocations of Rs 19,700 crore to the National Hydrogen Mission with the focus of enhancing hydrogen production capacity of 5 metric million tonnes by 2030 and the net zero and green commitments of the country.
Government announce ment on promotion of tourism on mission mode in 2023 will help NE.
Additionally, the announcement for development of destinations in totality would help the region will help in introduction of newer destinations in the NE tourism map, he observed.
Abhijit continued that with substantial numbers of Eklavya Model Residential Schools in the region the proposed enhancement in number of teachers and support staff will improve the quality of education in the far-flung regions of NE.
With major strengths in the handloom and handicraft sector, the announcements on supporting artisans both in terms of capacity building and market linkages will empower this transformative and mass driven sector in the NE, he further conveyed.
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