New north east industrial policy referred to GoM

New Delhi, Feb 22 (UNI) The Cabinet Committee on Economic Affairs (CCEA) today referred to a Group of Ministers (GoM) the much-awaited new north Eastern Industrial Policy (NEIP-2007).

The GoM has been requested to submit its report as early as possible as the exisiting policy will come to an end by March.

The new policy will take shape by April 1, 2007, Finance Minister P Chidambaram said after the CCEA meeting here.

Union Minister for the Development of North Eastern Region (DoNER) Mani Shanker Aiyar said recently in Kolkata that the policy was meant for the growth of the North East states.

He said the out of the total Rs 18,700 crore, allocated to NEIP between 1999 and 2004, only about Rs 1,632 crore were spent for the development of the North East.

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

UNI