GUWAHATI: Industry representatives and economists termed the union budget 2016-17, presented by union finance minister Arun Jaitley in the parliament on Monday, as "forward looking" so far as Northeast's development is concerned.
Even though there is no region-specific big announcement for Northeast, they said that the region is set to benefit from the enhancement in allocations in infrastructure, agriculture, irrigation, rural development among other sectors. "Northeast is going to benefit from the enhancement of allocations in infrastructure, agriculture, irrigation, and rural sectors. And the region should take its due shares from the allocations," Federation of Industry and Commerce of North Eastern Region (FINER) chairman R S Joshi said.
Economist M P Bezbaruah said the budget is forward looking with focus on addressing root of problems like in agriculture and rural sectors. He added that instead of announcing new projects especially in infrastructure sector, the emphasis is on completion.
"Northeast is more of a rural-based economy. There is money in the budget for agriculture, rural development and connectivity infrastructure. We have to take our share from it," Bezbaruah observed.

Federation of Indian Chambers of Commerce and Industry (FICCI)'s Northeast advisory council chairman, Ranjit Barthakur said infrastructure requirements for Northeast will figure prominently in the increased infrastructure spending by the government.

"We hope the issue of development of inland waterways, Northeast ring road connecting region's state capitals and connectivity with neighbouring countries will be addressed. We also hope the states of the Northeast will be able to take advantage of the plan to operationalize non functioning Airports" Barthakur added.

Confederation of Indian Industry (CII) Northeast council co-chairman Abhijit Barooah said the budget's emphasis on entrepreneurship and small business would spur entrepreneurship movement in the region.

"Further, lowering of corporate taxes for units with revenue below Rs 5 cr and the 100 per cent tax exemption for start-ups for 3 years will benefit small business and the MSME sector in the region. In short, it is the best time to be an entrepreneur in the country," Barooah added.