Union Budget 2019-20 - Provisions for Assam and North East India
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- Provisions related to Assam & North East India -
- Union government increases allocation for eight states of Northeast India to Rs 50,169.39 crore in the union budget 2019-20 from Rs 39,201 crore of 2018-19.
- Rs 4105 Crore is allocated to Oil India Limited for exploration and production, Rs 755 Crore is allocated for MSME sector.
- The budget allocation for the Northeast under the North East Road Sector Development Scheme has been increased from Rs 391 crore during 2018-19 to Rs 666 crore for 2019-20.
- Budget allocation of Rs. 3000 crore for the Ministry of Development of Northeastern Region (DoNER) is a gesture that the central government is extending its continued support to ensure development and thrust to the Northeast.
- The increase of fund for the North East Special Infrastructure Development Scheme (NESIDS) from Rs 140 crore during 2018-19 to Rs 695 crore for 2019-20 will enable different states in the Northeast to further initiate large infrastructure activities.
- Positive for North East companies as all private entity in North East will be within 25% tax rates, as corporate tax is reduced to 25% for companies with turnover upto 400 crores.
- Increase in allocation for refund of central and integrated GST to North Eastern Region (NER) the Himalayan states will ensure timely refund of GST under industrial policy.”
Download Union Budget 2019-20 Highlights PDF