Guwahati: With more than 90% of all business companies in the Northeast and Assam are under the category of micro, small and medium (MSMEs) now, industrial bodies have high hopes for this key sector in the union budget.
Although last year’s budget almost had anything specific, the industrial body said the government’s focus on the MSME sector in the northeast would be vital.
“The focus on the MSME sector will be very important because most of our business companies are MSMEs.
The government has changed the definition of the UMKM unit and almost 99% of all companies in the Northeast come under the category of MSMEs now.
Therefore, government policy will be very important For the development of this region, “said Abhijit Barooh, Chair, CII, northeast.
Because some of the main infrastructure projects are currently ongoing on roads, trains, waterways, airports and powerplants, it says sufficient fund allocation for these projects in the northeast will help in their acceleration.
“The northeastern region is still bad in infrastructure.
Accelerating the rate of infrastructure development will greatly benefit the region,” Barooh added.
He said how new education policies were followed up in terms of budget allocation, was something everyone was waiting for.
Last year, the center had to spend a lot of money to rescue pandemics, and must provide a significant concession in terms of soft loans to various sectors to survive a pandemic.
“Whatever announced in the last budget may not be done completely because the difficult situation of all countries must be passed later.
Now things are almost normalized, we hope the government continues with the encouragement they provide in the last budget,” Barohah said.
Bidyananda Barkakoty, Advisor, Northeast Tea Association (Neta) said, “We begged the UNI Finance Minister to announce irrigation schemes, more specifically drip irrigation schemes for the tea industry.” Lok Sabha MP and Single Congress Senior Pradyut Bordoloi said the budget would be very spectacular, knowing “BJP obsession with selection”.
“With a large election that looms, especially in Uttar Pradesh, I don’t think there will be a heavy tax proposal in the Union budget.
Not a very revolutionary proposal will be given that can trigger economic growth in a massive way,” he said.
Bordoloi expects a special encouragement to the northeastern state.
“Assam is a country of rice surplus but the FCI and the Indian government have failed to provide MSP to a large number of farmers.
Special incentives must be given to our farmers,” Bordoloi said.
He demanded that the gap of infrastructure viability must be bridged by providing special budget allocations to ongoing projects and stopped in the northeast.
BJP BJP spokesman Goswami hopes it will be a friendly budget for people to take the Indian economy in Covid.