NDA allots Rs. 50,169.39 cr to the northeast, highest allocation of funds ever
GUWAHATI: The NDA government has increased the allocation for eight states of northeast India to Rs. 50,169.39 crore in the Union Budget 2019-20. This is the highest ever allocation of funds for this region.
This is also a significant increase since the allocation of budget in the previous year, 2018-19 of Rs. 39,201 crore.
According to a report by Economic Times, Rs. 4,105 crore has been allocated to Oil India Limited for exploration and production, while Rs. 755 crore has been allocated for the MSME sector. Further, Rs. 6,210 has been allocated for road development projects.
Speaking in regard to the new budget, Assam Chief Minister Sarbananda Sonowal termed the new Union Budget as pro-people and pro-poor. He said that it will help formulate plans for rural empowerment and women empowerment.
Dignitaries at the presentation of Union Budget 2019-20