States to benefit from Capital Asset creation: Sitharaman highlights role of externally aided projects in Northeast development
Shillong, June 20
Union Finance Minister Nirmala Sitharaman on Saturday underscored the Centre's commitment to strengthening infrastructure and development in the Northeast through externally aided projects, saying that the government aims to ensure capital asset creation and balanced regional growth.
Addressing a workshop in Shillong, Sitharaman said the initiative reflects a conscious policy decision taken under the leadership of Prime Minister Narendra Modi to support states in building fundamental infrastructure and long-term development capacity.
"I want every state to benefit from capital asset creation, and this was a conscious call taken by the Prime Minister that states should be given assistance... post-COVID, we wanted to make sure that the fundamental infrastructure of the states is supported," she said.
She further emphasised that the Centre's focus is on ensuring long-term structural support for states, particularly in critical sectors.
"We will do it as long as states have at least a basic fundamental foundation for connectivity, support mechanisms, social investments in terms of schools, hospitals and other institutions which can help in training, scaling, common facility for marketing and so on," Sitharaman added.
The Finance Minister's remarks came after she laid the foundation stone on Friday for development projects worth Rs 1,246 crore in Meghalaya under externally aided projects (EAPs), in the presence of Chief Minister Conrad K Sangma and senior state officials.
The projects span key sectors including road connectivity, logistics, tourism infrastructure, education, and livelihood development, and are aimed at boosting economic linkages and improving the quality of life across the state.
Sitharaman highlighted that the Northeast is now central to India's development journey, noting a shift in policy focus under the current government.
"The Northeast is no longer on the periphery of India's development story. It is being regarded as central to India's growth, connectivity, and future prosperity," she said.
She added that externally aided projects not only bring financing but also global expertise and innovation.
Such initiatives, she said, are crucial to "convert potential into prosperity through better connectivity, infrastructure, and targeted interventions," and to transform natural advantages into jobs and long-term economic growth.
Reaffirming the national vision, Sitharaman said India's goal of becoming a developed nation by 2047 cannot be achieved without inclusive regional development.
"India's journey towards becoming a developed nation by 2047 cannot be complete without a developed, connected, and prosperous Northeast," she said.
— ANI
Reader Comments
Good intentions, but let's see how much actually reaches the ground. We've heard many promises about Northeast development before. The Rs 1,246 crore figure sounds impressive, but I hope there's transparency in how these funds are utilized. Our dear Finance Minister needs to ensure no leakages happen.
As someone from Shillong, I can say this is long overdue! 🎉 The road connectivity here is pathetic during monsoons. If EAPs bring global expertise along with money, that could be a game-changer for tourism and local businesses. But please, focus on quality, not just quantity of projects.
Classic government spin. While I support infrastructure development, let's not forget that the Northeast also needs industrial policy, job creation, and local entrepreneurship support. Just building roads won't convert potential into prosperity. Need holistic approach.
I appreciate the focus on schools and hospitals. 🇮🇳 That's what real development looks like. My cousin teaches in a rural school in Nagaland, and basic facilities are missing. If these EAPs can deliver on education and healthcare infrastructure, it would be life-changing for so many families.
Externally aided projects sound good, but we must question the debt burden on states. 🧐 These loans eventually have to be repaid. Hope the Centre is providing grants, not just loans that will tie down future generations in the Northeast. Need clarity on financing terms.
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