Investment in North Eastern Region
The Minister of Mines and Development of North Eastern Region Shri B.K. Handique has said that as per the NER Vision 2020 Document, accelerating growth in the NER to catch up with the rest of the country requires a massive increase in investment.
In a written reply in the Rajya Sabha today he said, the rough estimates of additional investments needed in the NER vary from approximately Rs.11.5 lakh crore to Rs.14 lakh crore depending on the assumptions made in respect of factors like growth rate of Indian economy, accelerated growth rate of per capita Gross State Domestic Product (GSDP) for the NER and Incremental Capital-Output Ratio (ICOR). The Document has not specified sectoral components. Investment by the Central Government in the North Eastern Region in the form of Assistance for State Plans, Centrally Sponsored and Centrally Planned Schemes (10% Gross Budgetary), NEC Plan Outlay and NLCPR during the 10th Plan was about Rs. 80,000 crore. Within the first three year of 11th Plan over Rs. 82,000 crore has already been allocated to the region by the Central Government.
He said, the 11th Plan Document, the mid-term appraisal of the 11th five year plan and the Vision NER 2020 Document shall be used by all the stakeholders, including this Ministry, while deciding on the additional investments to be made in the Region for the remaining period of the 11th Plan and also while framing their Twelfth Five Year Plans.