Budget lays a strong foundation for socio-economic transformation of NE region: ICC

Guwahati: Hailing the Union Budget 2025-26, the Indian Chamber of Commerce (ICC), Assam and Meghalaya Committee on Saturday said that it laid a strong foundation for the socio-economic transformation of Assam and the larger northeast region.

Sarat Kumar Jain, Chairman of the ICC Assam and Meghalaya Committee, praised Union Finance Minister Nirmala Sitharaman for her recognition of the northeast’s unique needs and potential in the Union Budget.

Welcoming the announcement of a new Urea plant in Assam’s Namrup with an annual capacity of 12.7 lakh tonnes aiming to boost the region’s urea supply and agricultural productivity, Jain also supported the PM Dhan Dhanya Krishi Yojna, which would benefit 17 million farmers in 100 low-productivity districts, promoting agricultural growth and improving storage at the panchayat level.

Jain also welcomed the UDAN scheme expansion, which will enhance regional connectivity with 120 new destinations and benefit 4 crore passengers.

Mahesh Saharia, Chairman of the North East Regional Council of the ICC, praised the Union Budget, highlighting its focus on driving India towards ‘Viksit Bharat’.

He noted that the Budget lays a strong foundation for socio-economic growth, especially in healthcare, tourism, exports, and taxation.

Saharia welcomed the initiatives to enhance healthcare accessibility, such as the exemption of 36 life-saving drugs from Basic Customs Duty (BCD) and the addition of six medicines under 5 per cent concessional duty.

He also supported the exemption for bulk drugs and the addition of 37 new medicines, improving healthcare affordability.

Saharia appreciated the tourism measures, including visa-free waivers for select tourists and the revitalisation of 50 key tourist destinations. The formal recognition of one crore gig workers for better social security benefits was also welcomed.

The ICC looks forward to collaborating with the government and other stakeholders to effectively implement these initiatives and ensure that the benefits reach every corner of the region.

According to ICC, the Budget is growth-oriented, with a focus on infrastructure, manufacturing, saving stimulus, and addressing the issues of Agriculture, Micro Small and Medium Enterprises, Tourism, Education, Skill Development, Public Health Export and Connectivity making a concerted effort towards inclusive growth, a trade body statement said.

–IANS