NE Industrial Policy-2007 by March end: Aiyer

Kolkata, Feb 10 (UNI) The eagerly-awaited Northeastern Industrial Policy(NEIP)-2007 will be announced by the Union ministry of the Department for Development of the Northeastern Region(DONER)by March-end, ensuring a wholesome economic growth of arguably the most neglected region.

This was formally announced here today by DoNER Minister Mani Shankar Aiyer while speaking to newsmen after inaugurating the one day "North East Business Summit",organised by the Indian Chamber of Commerce(ICC). More than 300 businessmen and industrialists from across the country and abroad attended it.

Highlighting the huge potential for economic growth of the region comprising seven states and Sikkim, Mr Aiyer said though the policy was meant for the growth of the Northeast,for some unknown reasons three northern states-Himachal Pradesh,Jammu and Kashmir and Uttaranchal-were included in the previous policy which was framed way back in 1997.

As such,the minister regretted,that of the total Rs 18,700 crores, allocated to NEIP between 1999 and 2004,only about Rs 1632 crores were spent for the development of the Northeast,while the rest went to coffers of the three Northern states.

Assuring that such things would not recurr in the new policy which would bring Sikkim as the 8th Northeastern state under its framework, Mr Aiyer said unlike the previous NEIPs,the new policy would be made effective for a longer period with the provision of having mid-term additions and alterations to suit the ground realities.

"We are confident that within five years of the implementation of NEIP-2007,the overall economic scenario of the Northeast would undergo a sea change making it economically one of the most vibrant regions," the minister pointed out.

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