NewKerala.com

Northeast Industry Body Praises Union Budget's MSME Boost and Infrastructure Push

The Federation of Industry and Commerce of the North Eastern Region (FINER) has expressed strong satisfaction with the Union Budget 2026-27, calling it balanced and growth-oriented. It particularly welcomed the record-high capital expenditure for infrastructure and the dedicated fund and initiatives to strengthen MSMEs. The budget's focus on boosting manufacturing through chemical parks, the semiconductor mission, and duty exemptions was also highlighted as key for import substitution. FINER concluded that the budget creates a positive policy environment for inclusive and sustainable economic growth across all regions.

Key Points: Northeast Industry Hails Union Budget's MSME, Infra Focus

  • Record ₹12.2L cr capital expenditure boost
  • ₹10,000 cr SME growth fund for MSMEs
  • Push for manufacturing with chemical parks & semiconductor mission
  • Fiscal consolidation & tax reforms maintained
  • Skilling & tourism focus for regional jobs
2 min read

Union Budget: Northeast's key industry body hails focus on MSMEs, infra, jobs

FINER welcomes Budget 2026-27's emphasis on MSMEs, record capital expenditure, and manufacturing initiatives for regional growth and jobs.

"a well-balanced and growth-oriented budget that addresses the needs of industry - Federation of Industry and Commerce of the North Eastern Region"

Guwahati, Feb 1

The Federation of Industry and Commerce of the North Eastern Region on Sunday expressed satisfaction with the Union Budget 2026-27, terming it a well-balanced and growth-oriented budget that addresses the needs of industry while maintaining fiscal discipline.

The FINER, the key industrial body of the Northeast region, welcomed the government's emphasis on reform over rhetoric and said the fiscal consolidation glide path has been maintained as targeted.

It particularly appreciated the balancing of fiscal prudence with the highest-ever capital expenditure of Rs 12.2 lakh crore, noting that this would provide a strong boost to infrastructure creation, investment and employment generation.

The industry body lauded the budget's strong focus on MSMEs, highlighting initiatives such as the creation of Champion SMEs and the proposed Rs 10,000 crore SME growth fund, which are expected to improve access to finance and further strengthen the backbone of the economy.

The FINER, in a statement, also welcomed the thrust on manufacturing and technology, citing initiatives such as the establishment of three dedicated Chemical Parks, the expansion of the India Semiconductor Mission (ISM 2.0), the setting up of Hi-Tech Tool Rooms, and duty exemptions for lithium-ion cell manufacturing.

These measures, it said, will enhance domestic manufacturing capacity and promote import substitution.

The federation appreciated continued support for textiles, handloom, handicrafts and khadi, along with targeted skilling initiatives such as Samarth 2.0, which are expected to boost employment, particularly in rural and semi-urban areas.

Measures aimed at strengthening tourism, urban infrastructure, high-speed rail corridors, and education-to-employment linkages were also welcomed as steps towards balanced regional development.

From a macroeconomic perspective, FINER said the budget reflects a firm commitment to fiscal consolidation, a declining debt-to-GDP ratio, and improved compliance through tax reforms, including rationalisation of TCS rates and extension of timelines for income tax return revisions.

Overall, FINER said the Union Budget 2026-27 provides a positive and enabling policy environment for industries across sectors and regions, including the Northeastern Region, and will contribute significantly to inclusive and sustainable economic growth.

- IANS

Share this article:

Reader Comments

P
Priya S
As someone from a family of handloom weavers in Assam, I'm very happy to see continued support for textiles and handicrafts. Samarth 2.0 for skilling is crucial. The challenge will be ensuring these schemes reach the actual artisans on the ground and not just remain on paper.
R
Rohit P
Capital expenditure of Rs 12.2 lakh crore is massive! Hope a significant portion is allocated for improving connectivity in the Northeast - better roads, railways, and digital infra. That's the real foundation for any industry to flourish here.
S
Sarah B
The emphasis on chemical parks and the semiconductor mission is forward-looking. Attracting such tech and advanced manufacturing to the Northeast could create high-quality jobs and stop the brain drain of our youth to other states. Fingers crossed for execution!
V
Vikram M
While the budget sounds good on paper, I have a respectful criticism. FINER represents industry bodies, but what about the common man? We need to see how this "fiscal discipline" translates into controlling inflation for daily essentials. That's the real test.
K
Karthik V
Tourism focus is key for the Northeast's economy. Our natural beauty is unparalleled. If urban infrastructure and high-speed rail corridors improve, it will be a game-changer for hospitality and related MSMEs. Hope the plans are implemented swiftly.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50