NE industry associations welcome budget

Guwahati, Feb 1 (PTI) The North East and Assam chapters of the Confederation of Indian Industry (CII) and the Federation of Industry and Commerce of North Eastern Region (FINER) on Tuesday welcomed the Union budget saying it is balanced and help the people of the region getting livelihoods.

Chairman of CII, North East Council, Abhijit Barooah thanked Union Finance Minister Nirmala Sitharaman for earmarking Rs 1500 crore for developmental initiatives to enable livelihood activities for youths and women in the region.

“I am sure that this initiative will improve the economic scenario of the region in the long run. Out of this Rs 1500 crore, Rs 100 crore has been allocated for the construction of Bamboo-Link Road at different locations in various districts of Mizoram, which is commendable and has been the result of tireless efforts of Mizoram Chief Minister Zoramthanga,” he said.

Chairman, CII Assam State Council, Pradeep Bagla, said that it is a balanced budget with 35 per cent increase in capital expenditure to drive infrastructure and job creation while the special attention on the North East will lead to the region’s development.

FINER President Pabitra Buragohain, hailing the budget, said that the finance minister has presented a capital expenditure-led Budget aimed at reviving the Covid-hit economy and creating more jobs over the next two decades.

A sharp jump of 35.4 per cent in capital expenditure to fund various infrastructure projects in 2022-23 was announced and the government will invest Rs 7.50 lakh crore as capital expenditure next year, a rise from the Rs 5.54 lakh crore in the current fiscal, and this increase in capex allocation indicates more jobs and opportunities, he said.

“Overall in the budget, there is increased focus on employability, e-skilling, employment generation in the MSME sector and recruitment with a view to formalising entrepreneurial opportunities,” Buragohain added.