Budget 2022-23: Another strong step towards Atmanirbhar Ashtalakshmi

As India celebrates its 75th year of independence through Azadi Ka Amrit Mahotsav, the Hon’ble Prime Minister has often spoken about setting a vision for India in its 100th year. The planning and the groundwork for Amrit Kaal needed to start from this year and the Budget for the financial year 2022-23, while brilliantly balancing fiscal and social priorities and providing limitless possibilities to unleash innovation and animal spirits in the Indian economy, has provided the right foundation for it.

Without a doubt, the Ashtalakshmi states of the North Eastern Region stand to gain tremendously from the Budget 2022-23. Envisioned as India’s growth engine and gateway to ASEAN, the 8 States have remained central to the government’s developmental agenda for Atmanirbhar Bharat. This Budget further brightens the path for growth and adds more muscle to all the developmental efforts for setting up an Atmanirbhar Arthvyavastha in the region.

Prime Minister Narendra Modi has always had a special focus for the Northeast region and has been working on mission mode towards its development since 2014. Be it the first freight train connectivity in 75 years for Manipur, adding Arunachal Pradesh and Meghalaya to the railway map for the first time, the construction of the Bogibeel bridge – India’s longest railroad bridge, the world’s tallest bridge pier in Manipur (Jiribam-Imphal), the first-ever petrochemical project in the North East inaugurated in Assam, Sikkim’s first Air portor the recent inauguration of the new terminal at the international airport of Agartala, North East is charting its unprecedented course to growth and prosperity under his visionary leadership.

Budget 2022-23 pumps even more energy to this mission. Since 2014, this Government has spent more than Rs. 2.65 lakh crore in the North Eastern Region to accelerate its march towards growth and development. The political will towards the development of North East Region is evinced by the fact that the budget for North Eastern Region has gone up by over 110% in last 7 and half years, i.e., from 36,108 crores in 2014-15 to 76,040.07 crores allocated in FY 2022-23. In one fiscal year, i.e., from last year’s 68,020.24 crores, the budgetary allocations have risen by 12% to 76,040.07 crores.

Continuing on the impetus of bridging the infrastructure gap, more than15% of this allocation has been towards Highways, Information ways, Railways and Airways (the HIRA model of development that the Prime Minister passionately espouses). In fact, for strengthening the rail transport system alone, Rs.39,000 crore have been spent by railways between 2014 and 2021 in the Northeast.

The recent Budget’s launch of a new scheme for the Northeast, the Prime Minister’s Development Initiative for North-East (PM-DevINE), with an initial allocation of Rs. 1,500 crore is another historic step in the rapid development journey of the Northeast. The scheme adopts a holistic approach towards development in the region and would cater to diverse developmental needs along with filling critical gaps aid in rapid employment generation and enhancing livelihood support in the region.

Among the carefully selected initial projects of PM-DevINE, the Bamboo Link Road in Mizoram and the promotion of Scientific Organic Agriculture harness the natural assets of the region for developmental goals, while, the dedicated services for the Management of Paediatric and Adult Haematolymphoid Cancers in Guwahati and the North East Centre For Technology Application and Reach (NECTAR) Livelihood Improvement Projects go a long way towards the enhancing welfare of the people of the Northeast.

Along with the much-needed impetus on the green economy in this Budget, the Parvatamala Ropeway development plan has the potential of becoming the next mass transportation revolution which is both environmentally friendly and more amenable to the difficult topography of the Northeast. This is yet another avenue for the North East region to generate new employment opportunities.

The North Eastern States hold immense strategic value, both from the security and economic point of view for India. With over 5,182 kilometers of the international border, they are the focal point of the Government’s Act East policy. The recent Budget’s announcement of Vibrant Villages scheme will take development and connectivity to villages at the frontiers along the country’s borders including in the Northeast and offer equal opportunities for their development and growth as in the mainland villages.

The Prime Minister has rightly given the epithet to the 8 North Eastern States as ‘Ashtalakshmi’ of India, for their immense inherent potential and their indispensability in India’s growth story of brighter future for its billion plus population. It is time for all of us to make most of this progressive and positive Budget 2022-23 and ensure giant leaps in the growth and prosperity of the North East Region.