'Union Budget not populist, fiscally disciplined', says Northeast industry body

Guwahati, Feb 1: Federation of Industry and Commerce of North Eastern Region (FINER), on Sunday, termed the Union Budget a "balanced and fiscal-disciplined" and not a populist one.

They maintained that it was drafted keeping in mind the "geo-political tensions", including Russia-Ukraine war, tariff hikes by the US and "other negativities".

"This is not a populist budget. I think it is a balanced and fiscal-disciplined one," FINER president Bajrang Lohia said.

Though Assembly elections are close, there is nothing as such for the state, he added. Lohia said the push for MSMEs will benefit Assam and the Northeast as the region has mostly medium and small enterprises.

Infrastructure development boast for tier 3 and 4 cities will also benefit the region, he maintained. "The announcement of the Buddhist circuit will help the tourism sector, which will in turn propel the economy," the FINER president said.

Former FINER president RS Joshi, terming it a good budget, said, "Some may say that there is no specific mention of Northeast. But it is a Union Budget. Allocation is all sectors have gone up and these will benefit the region too."

He stressed that it has to be borne in mind that the budget has been prepared keeping in mind the geo-political tensions, including Russia-Ukraine war, tariff hikes by the US and "other negativities".

"We will need to go through the fine print. If there is anything lacking, FINER will bring it to the notice of the minister and the region's MPs," Joshi added.

PTI