Budget 2022 allocates INR 1500 crore for development initiatives in Northeast

• ByTejika Bajaj     |    February 1, 2022

The union budget 2022-23 presentation has highlighted the allocation of INR 1500 crore for development initiatives in the Northeast territory. Furthermore, the Finance Minister has also elaborated upon a new scheme PM Development Initiative for North East which aims to promote the growth of the region.

The Budget this year is with the focus on fast-tracking the economy, providing opportunities to businesses and creating six million new jobs. Agriculture, healthcare, MSMEs and infrastructure, too, feature prominently in the minister’s scheme of things.

Sitharaman has proposed to extend the Emergency Line Credit Guarantee Scheme until March 2023 with an expanded cover guarantee of INR 5 lakh crore. Sitharaman said the draft DPRs (detailed project report) for five river links have been finalised and the implementation of Ken-Betwa rivers linking with an estimated cost of Rs 44,605 crore will be taken up.

Further, the FM has suggested a new village scheme for the Northeast region which she believes will enhance the development and bring forth a vibrant village culture among the region.

As much as 95 percent of 112 aspirational districts have made significant progress in health and infrastructure, the finance minister said in her Budget Speech 2022-23. She added that projects in the National Infrastructure Pipeline which pertain to seven engines will be aligned with PM Gati Shakti Framework.

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