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NEIIPP to be revived with DoNER funds

By Staff Reporter
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GUWAHATI, Jan 29 - Blaming the previous Congress-led UPA Government at the Centre for the dilution of incentives for prospective investors in the North East under the under the North East Industrial and Investment Promotion Policy (NEIIPP)-2007, Union Minister of State (Independent) for Commerce and Industry Nirmala Sitharaman today said that the present BJP-led NDA Government at the Centre had neither discontinued nor cancelled the NEIIPP.

�Rather, we have written to the Finance Ministry to continue and facilitate implementation of the NEIIPP by utilizing the Rs 15,000 crore of the Non-Lapsable Central Pool of Resources (NLCPR) at the DoNER Ministry�s disposal,� she said.

Sitharaman, who was addressing as chief guest at the inaugural conclave on infrastructure and development organized by the Assam BJP as part of its Assam Nirman Initiative at the Srimanta Sankaradeva Kalakshetra here, said that while the NEIIPP was well-intended and could have done a world of good to industrially-backward region, the Congress Government for reasons best known to it kept minimal budgetary provision for implementation of the policy.

�It was a well-intended policy and we want it to continue. But it was precisely due to the Congress Government�s failure to allocate adequate funds that prevented its implementation. An amount of just Rs 700 crore was allotted for the NEIIPP under the Five Year Plan whereas additional liabilities during 2015-16 stood at Rs 770.82 crore,� she said.

The NEIIPP envisaged five major subsidies for prospective industrialist in the North east, but there was no corresponding budgetary support, the Minister said.

�When the BJP assumed power at the Centre, we inherited an empty coffer. The NEIIPP can be serviced through the DoNER, and we are now moving the Finance Ministry for implementing the NEIIPP with NLCPR at the DoNER�s disposal,� she added.

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NEIIPP to be revived with DoNER funds

GUWAHATI, Jan 29 - Blaming the previous Congress-led UPA Government at the Centre for the dilution of incentives for prospective investors in the North East under the under the North East Industrial and Investment Promotion Policy (NEIIPP)-2007, Union Minister of State (Independent) for Commerce and Industry Nirmala Sitharaman today said that the present BJP-led NDA Government at the Centre had neither discontinued nor cancelled the NEIIPP.

�Rather, we have written to the Finance Ministry to continue and facilitate implementation of the NEIIPP by utilizing the Rs 15,000 crore of the Non-Lapsable Central Pool of Resources (NLCPR) at the DoNER Ministry�s disposal,� she said.

Sitharaman, who was addressing as chief guest at the inaugural conclave on infrastructure and development organized by the Assam BJP as part of its Assam Nirman Initiative at the Srimanta Sankaradeva Kalakshetra here, said that while the NEIIPP was well-intended and could have done a world of good to industrially-backward region, the Congress Government for reasons best known to it kept minimal budgetary provision for implementation of the policy.

�It was a well-intended policy and we want it to continue. But it was precisely due to the Congress Government�s failure to allocate adequate funds that prevented its implementation. An amount of just Rs 700 crore was allotted for the NEIIPP under the Five Year Plan whereas additional liabilities during 2015-16 stood at Rs 770.82 crore,� she said.

The NEIIPP envisaged five major subsidies for prospective industrialist in the North east, but there was no corresponding budgetary support, the Minister said.

�When the BJP assumed power at the Centre, we inherited an empty coffer. The NEIIPP can be serviced through the DoNER, and we are now moving the Finance Ministry for implementing the NEIIPP with NLCPR at the DoNER�s disposal,� she added.

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