The MSME budget for the North East has been enhanced by Rs 8k crore, according to Union Minister Narayan Rane.

Union Minister for Micro, Small and Medium Industries Narayan Rane announced on Monday that his department's financial allocations for the North East area have been enhanced by Rs 8,000 crore

The MSME budget for the North East has been enhanced by Rs 8k crore, according to Union Minister Narayan Rane.

Union Minister for Micro, Small and Medium Industries Narayan Rane announced on Monday that his department's financial allocations for the North East area have been enhanced by Rs 8,000 crore for the current fiscal year. "The overall budgetary allocation for the North East in the fiscal year 2021-22 was Rs 68,000 crore. The budget for the current fiscal year has been increased to Rs 76,000 crore. Several states, including Assam and Sikkim, have done extremely well in recent years, and I believe Tripura will do well in the next years," the Union Minister said at a news conference following a regional conference on sustainable development goals for MSMEs in the North East.

"I am here to review the development works from the ground up," he explained. I've seen that the North East has done exceptionally well in recent years. The whole budgetary allotment of Rs 68,000 crore made available in the previous fiscal year has been fully utilized. With a per capita income of more than Rs 4 lakhs, Sikkim has emerged as one of the successful states. Work is also progressing quickly in Assam. For Tripura, we have discussed certain plans with the Chief Minister".

On being asked what are the important sectors that might develop in the MSME sector, the Union Minister replied, "Tourism has huge potential. Tourism accounts for 95 percent of total government revenue in states such as Goa. The Balaji temple in Tamil Nadu is likewise very popular all year. We are bullish about the tourism industry. The Chief Minister has been consulted on the matter in order to devise an innovative approach centered on the Tripurasundari temple in Udaipur. We have set a target of more than Rs 2 lakh per capita income in the next three years. The Central government has specified that no state shall have per capita income below than the national average".

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