Assam CM urges Centre to allow continuation of NEIIP

"The North East Industrial Investment Promotion Policy has led to significant industrial investment in Assam to the tune of around Rs 5,000 crore before its expiry on March 31 this year," he said.

PTI| Last Updated: Apr 23, 2017, 20:35 PM IST

New Delhi: Assam Chief Minister Sarbananda Sonowal on Sunday urged the Centre to allow continuation of the existing North East Industrial Investment Promotion Policy till a new initiative is put in place.

"The North East Industrial Investment Promotion Policy (NEIIPP) 2007 has led to significant industrial investment in Assam to the tune of around Rs 5,000 crore before its expiry on March 31 this year," he said, participating the governing council meeting of the Niti Aayog here.

Sonowal requested Prime Minister Narendra Modi to allow continuation of the NEIIPP till a new industrial policy is put in place for the Northeast.

The chief minister urged the prime minister for instructing the ministry of finance and NITI Aayog to evolve a mechanism for scheme-wise allocation of central share well in advance to enable the states to prepare a realistic resource based action plan as 'non-availability of scheme-wise allocation of central share before the presentation of a state budget creates difficulties in reflecting the correct allocation of funds against each scheme'.

On the 15-year vision, 7-year strategy and 3-year action plan, Sonowal requested the apex planning institution for inclusion of state specific concerns to achieve faster and more holistic growth. Sonowal also complimented the prime minister and NITI Aayog for adopting a slew of initiatives to make paradigm shift in development planning into reality.

"I believe that for a country like ours, we need a long horizon vision supported by appropriate strategy and practical action plans for realizing the avowed vision," he said.

As the country is on the cusp of introducing GST from July 1 this year, the chief minister said, it will give a big fillip to the prime minister's 'Make in India' initiative.

In this context, he pointed out that Assam has had the enviable distinction of being the first state in the country to ratify the GST Constitution Amendment Bill.

The chief minister said a special session of the Assam legislative assembly will be held from May 8 for consideration and enactment of the Assam Goods and Services Tax Act, 2017.

Lauding the central government for considering the amount of revenue forgone due to industrial concession as a part of revenue for the purpose of calculating GST compensation, Sonowal said this will protect the interests of Northeastern states and Jammu and Kashmir and help in bringing them at par with other states of the country in terms of industrialisation.