North East Industrialists Applaud Sitharaman's Visionary Economic Blueprint
North East industrialists laud Union Finance Minister Nirmala Sitharaman for the Union Budget 2025-26, praising its focus on regional development, infrastructure, tourism, MSMEs, and ease of doing business. The budget's strategic initiatives aim to transf
Union Budget 202526North EastEconomic GrowthInfrastructureTourismReal Estate NewsFeb 02, 2025
The budget places a strong emphasis on regional development, infrastructure, tourism, MSMEs, and ease of doing business, which is expected to have a significant impact on various industries in the Northeastern Region, accelerating its transformation into a more connected, prosperous, and investment-friendly state.
Vikas Agarwal, Managing Director of SM Developers, a leading group in infrastructure development and the region’s real estate and hospitality sector, stated, “The Union Budget 2025-26 is a game-changer for the infrastructure and real estate sector.
The Rs.
1.5 lakh crore interest-free capital expenditure loan for states, coupled with the extended Jal Jeevan Mission and urban redevelopment initiatives, will drive large-scale development across India.”
The SWAMIH Fund-2, aimed at completing one lakh stalled housing units, will bring relief to both homebuyers and developers, he added.
“The push for public-private partnerships in infrastructure, asset monetization, and logistics development ensures that India’s urban and rural landscapes evolve at a rapid pace,” Agarwal noted.
Agarwal also highlighted the budget's impact on the hospitality and tourism sector, particularly in North-East India.
“The Union Budget 2025-26 presents a transformative vision for the tourism and hospitality sector.
The focus on expanding the UDAN scheme to enhance regional air connectivity, the development of the top 50 tourist destinations, and performance-linked incentives for states will significantly boost tourism in Meghalaya and the entire North-East.”
He added, “The government’s emphasis on streamlining e-visas and providing MUDRA loans for homestays will empower local entrepreneurs and attract more domestic and international tourists.
This budget truly recognizes the immense potential of our region’s tourism industry and lays the foundation for sustainable growth in the hospitality sector.”
Ankit Poddar of Poddar Group emphasized the budget's balance between economic growth and social welfare.
“The progressive reduction of income tax liability, particularly the introduction of zero tax for individuals earning up to Rs.
12 lakh, provides a significant relief to the middle class.
This will undoubtedly boost their spending power and confidence,” he said.
Poddar also highlighted the budget's focus on the automobile sector, stating, “The emphasis on clean tech manufacturing along with incentives for electric vehicle (EV) battery production and enhanced infrastructure development is a pivotal step toward fostering sustainable mobility in India.
However, challenges related to electricity availability need to be addressed.”
He further noted, “The streamlined regulatory framework, investment incentives, and ease of doing business measures will foster a more competitive and investor-friendly environment.
This budget represents a bold initiative toward positioning India as a global leader in the automobile industry while ensuring crucial economic relief for millions of families.”
The budget includes significant elements for the education sector.
Pankaj Das, Principal of Modern English School, stated, “The Union Budget has laid a strong foundation for the future of education in India.
The expansion of IITs, the addition of 10,000 new medical seats, and the establishment of five National Centres of Excellence for Skilling will equip students with industry-relevant knowledge and expertise.”
Das added, “The government’s decision to provide broadband connectivity to all government secondary schools will bridge the digital divide, ensuring that students in rural and remote areas, including the North-East, have equal access to quality education.
Initiatives like the Bharatiya Bhasha Pustak Scheme will enhance learning in regional languages, making education more inclusive.”
Anup Poddar, a Managing Director of Health City Hospital, expressed strong support for the budget's healthcare provisions.
“The Budget marks a significant advancement for the healthcare and pharmaceutical sectors.
The government's commitment to enhancing access to life-saving medicines is commendable.
By removing customs duties on 36 critical life-saving drugs, including treatments for cancer and rare diseases, the budget is poised to decrease treatment costs substantially, benefiting millions of patients across the country.”
He also mentioned the Rs.
20,000 crore allocated for research and development, stating, “This substantial funding will catalyze advancements in healthcare solutions, ensuring that India remains at the forefront of pharmaceutical innovation.”
Poddar lauded the initiative to establish Day Care Cancer Centres in every district hospital, calling it a visionary step.
“This will empower local healthcare providers and bring critical cancer care closer to rural and underserved populations.
The budget also proposes enhanced fiscal incentives for telemedicine and digital health solutions, aiming to improve healthcare accessibility in remote regions,” he added.
These initiatives represent a robust framework for ensuring better healthcare access while fortifying India’s position as a global leader in the pharmaceutical and healthcare sectors.
As the Northeast looks ahead, the budget promises a tentative yet hopeful shift towards progress and sustainability, subject to effective implementation across sectors.
Frequently Asked Questions
What is the main focus of the Union Budget 2025-26 for the North Eastern States?
The Union Budget 2025-26 focuses on regional development, infrastructure, tourism, MSMEs, and ease of doing business in the North Eastern States, aiming to transform the region into a more connected, prosperous, and investment-friendly area.
How does the budget benefit the real estate and infrastructure sector in the Northeast?
The budget provides an interest-free capital expenditure loan of Rs. 1.5 lakh crore for states and extends the Jal Jeevan Mission and urban redevelopment initiatives, which will drive large-scale development across the region.
What initiatives are included in the budget to boost the tourism sector in the Northeast?
The budget includes the expansion of the UDAN scheme for better air connectivity, development of top 50 tourist destinations, performance-linked incentives for states, streamlined e-visas, and MUDRA loans for homestays.
How does the budget support the middle class and automobile sector?
The budget introduces zero tax for individuals earning up to Rs. 12 lakh, providing significant relief. For the automobile sector, it emphasizes clean tech manufacturing, incentives for EV battery production, and enhanced infrastructure development.
What are the key education and healthcare provisions in the budget?
The budget includes the expansion of IITs, 10,000 new medical seats, five National Centres of Excellence for Skilling, broadband connectivity for secondary schools, and initiatives to enhance regional language learning. In healthcare, it removes customs duties on critical drugs, allocates Rs. 20,000 crore for R&D, and proposes Day Care Cancer Centres in district hospitals.
Related News Articles
Insolvency Proceedings Initiated Against Jaiprakash Associates by NCLT
The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against Jaiprakash Associates, a leading real estate developer, following a plea by ICICI Bank.
Breaking the Cycle: How to Make Affordable Housing Truly Affordable Again
Real estate experts have highlighted the growing issue of unaffordable housing and the urgent need to address it to prevent future crises. Affordable homes are no longer affordable, and we need to break this catch-22 situation.
Environmental Activism and Strict Norms Hamper Pune’s Real Estate Sector
The real estate sector in Pune is facing significant challenges due to persistent environmental activism and stringent adherence to green norms, impacting the growth of projects and the supply of new homes.
Understanding NFTs: The Hype, Reality, and Future
NFTs, or Non-Fungible Tokens, have taken the tech, art, and pop culture world by storm. From digital art to virtual real estate, NFTs offer unique digital assets backed by smart contracts. This article delves into what NFTs are, why they've become so popu
Prestige Estates Expands into NCR and Mumbai with Strategic Projects
Prestige Estates Projects Ltd is optimistic about the luxury housing market despite industry concerns over inventory buildup. The company is expanding its footprint in the NCR and Mumbai with new projects, including the integrated township in Ghaziabad an
India's Real Estate Market: A Closer Look at Rising Prices and Hidden Risks
Despite multiple financial shocks, India's real estate market continues to defy expectations with rising prices. However, not all investments in this sector are created equal, and investors must be cautious of hidden risks.