New Delhi, Feb 1: The budget outlines a robust plan for growth in the North Eastern region, featuring airport expansion, the promotion of the Electric Vehicle (EV) ecosystem, and increased adoption of E-buses for sustainable transportation. Bio-manufacturing projects highlight technological advancements, while a focus on a climate-resilient blue economy aligns with environmental goals. The development of tourist centers and the promotion of island tourism aim to boost the region’s tourism sector.
Introducing 50-year interest-free loans in Vikshit Bharat schemes signals a commitment to long-term development, and the decision to maintain existing taxation regimes ensures economic stability. Overall, the budget prioritizes strategic initiatives across key sectors to propel the Northeast’s progress.
Highlights: Check here
Expansion Plans for More Airports: Ambitious plans outlined for the establishment of new airports.
Growth of EV Ecosystem: In a significant efforts towards expanding the Electric Vehicle (EV) ecosystem, Nirmala Sitharaman said government will expand and strengthen the EV ecosystem by supporting manufacturing and charging infrastructure.
Increased Adoption of E-Buses: Strong push for the increased adoption of electric buses across the country. Finance Minister Nirmala Sitharaman said “Our government will expand and strengthen the e-vehicle ecosystem by supporting manufacturing and charging infrastructure. Greater adoption of e-buses for public transport networks will be encouraged through payment security mechanism.”
Launch of Bio-Manufacturing Projects: Finance Minister said that Government will launch new scheme of bio-manufacturing to promote green growth.
Emphasis on Climate-Resilient Blue Economy: In a significant move to promote climate-resilient activities within the Blue Economy 2.0, Finance Minister Nirmala Sitharaman announced the launch of a comprehensive scheme. The initiative will focus on Restoration & Adaptation measures, coastal aquaculture, and mariculture, adopting an integrated multi-sectoral approach. This strategic step aims to enhance sustainability and resilience in coastal ecosystems.
Development of Tourist Centers: Finance Minister Sitharaman announced long-term tourist loans for States, paving the way for a substantial boost in India’s Northeastern regions.
Promotion of Island Tourism: FM introduces strategic initiatives to enhance island tourism, with a specific emphasis on spiritual tourism. States are encouraged to acquire and develop well-known tourist destinations for broader promotion.
50 Years Interest-Free Loans in Vikshit Bharat Schemes: As a continuation of the government’s Gati Shakti master plan, 50-year interest-free loans to state governments have been extended for an additional year.
No Changes in Taxation Regimes: No changes in the IncomeTax rates were announced in the Interim Budget, as Finance Minister Nirmala Sitharaman confirmed the continuity of both direct and indirect taxation regimes.
