CENTRE APPROVES INFRA DEVELOPMENT FOR NE WITH 100% FUNDING

A new scheme for infrastructure development in the northeastern states with 100% funding by the central government has been approved by the Union Cabinet along with a capital investment subsidy amounting to Rs 265 crore. The Union Cabinet, chaired by PM Narendra Modi, also approved the continuation of the  existing Non Lapsable Central  ool of Resources (NLCPR) scheme with funding pattern of 90:10 till March, 2020, with an outlay of Rs 5,300 crore to enable completion of ongoing projects. The cabinet approved the introduction of new central sector scheme of North East Special Infrastructure Development Scheme (NESIDS)  with 100% funding from the central government to fill the gaps in creation of infrastructure in specified sectors till March
2022. The new scheme will broadly cover creation of infrastructure relating to water supply, power, connectivity and especially the projects promoting tourism, social sectors of education and health. The assets to be created under the new scheme of NESIDS will not only strengthen healthcare and education facilities in the region, but will also encourage tourism, thereby providing employment opportunities to the local youth. The CCEA also approved the capital investment subsidy amounting to Rs 265 crore to four industrial units in the North-Eastern Region.