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North eastern business chambers hail budget proposals

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The business chambers based in Guwahati welcomed the Union Budget proposals saying it would ease the lives of the common people.

The CII North East Council, the Indian Chamber of Commerce - North East (ICC-NE) and the Federation of Industries North East Region (FINER) appreciated the government's effort to increase employment and encourage entrepreneurship through various measures.

"The announcement of launching restructured Bamboo Mission is a good news for North East as this region consists of more than 50 percent of the country's bamboo reserves," CII North East Council Co-Chairman Abhijit Barooah said.

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He said sanctioning of Rs 4.6 lakh crore under MUDRA Scheme would benefit micro ventures in the North East.

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"The budget will aid India's consumer story by putting more money into the hands of people, and hence, will help the economy move steadily towards a double-digit growth phase," ICC-North East Initiative's Chairman M K Saharia said.

The FINER in a release pointed out that the most outstanding feature of the Union Budget is to vigorously support the farm sector and the boost to health, education, infrastructure, capex for railway and affordable housing.

The industry body, however, regretted that there is no announcement on the North East on the line of North East Industrial & Investment Promotion Policy (NEIIPP) and measures for the tea sector in the budget.

It, however, hoped that Prime Minister Narendra Modi would make certain announcements in this regard on February 3 when he inaugurates the Global Investment Summit here.

India Union Budget 2018: What does Finance Minister Arun Jaitley have up his sleeve? Click here for live Budget 2018 news, views and analyses.

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