29 C
Guwahati
Monday, October 25, 2021
More

    Cabinet Approves Allocation Of 30% Funds Of NE Council For New Projects

    The balance allocation shall be bifurcated in the existing two components - State component-60 per cent and Central component-40 per cent: Prakash Javadekar

    The Union Cabinet, chaired by the Prime Minister Narendra Modi, on January 29th, 2020 has approved the allocation of 30 per cent of North Eastern Council’s (NEC’s) allocation for new projects under the existing ‘Schemes of North Eastern Council’.

    The allocation has been approved for the development of deprived areas; deprived/neglected sections of society and emerging priority sectors in the Northeastern States. 

    Briefing the media after the Cabinet meeting, Union Minister Prakash Javadekar said, “The balance allocation shall be bifurcated in the existing two components – State component-60 per cent and Central component-40 per cent.”

    The Cabinet approved allowing projects under State component, upto 25 per cent of each State’s normative allocation, for sectors not covered in the mandate of NEC, but which are considered important as per the recommendations of the State Governments.

    The Union Minister further said that the projects under the existing ‘Schemes of NEC’ will accrue socio-economic benefits to the marginalized and vulnerable groups of people in backward and neglected areas of the North Eastern States. “It will lead to faster decision making and quick implementation of the projects,” he said.

    Photo credit: moneycontrol.com

    Published:

    Follow TIME8.IN on TWITTER, INSTAGRAM, FACEBOOK and on YOUTUBE to stay in the know with what’s happening in the world around you – in real time

    First published

    ট্ৰেণ্ডিং