Union Cabinet approves 100% funding of NESIDS

Speed Post News Network

New Delhi : The Union Cabinet chaired by PM Narendra Modi has approved the continuation of the existing Non Lapsable Central Pool of Resources (NLCPR) scheme with funding pattern of 90:10 till March, 2020, with an outlay of Rs 5,300 crore. It would enable completion of ongoing projects.

The Union Cabinet also approved the introduction of new Central Sector Scheme of “North East Special Infrastructure Development Scheme” (NESIDS) from 2017-18 with 100% funding from the Central Government to fill up the gaps in creation of infrastructure in specified sectors till March, 2020., according to a PIB release.

The assets to be created under the new scheme of NESIDS will not only strengthen health care and education facilities in the region but will also encourage tourism thereby the employment opportunities for local youth. The scheme will act as a catalyst in overall development of the region in the years to come.

Minister for Development of North Eastern Region (DoNER) Jitendra Singh described it as a path-breaking decision and hoped it will put an end to undue delay in the execution of various development projects in the region and will be a major booster for the eight states of the North-Eastern region.

Thanking PM Narendra Modi for this historic decision with far – reaching benefits, DoNER Minister Jitendra Singh disclosed that in departure from the earlier practice of 90:10 funding of Northeast projects implying 90% funds from Centre and 10% from the respective State, from now onwards, the Union Cabinet has agreed that the entire 100% of the funding will be borne by the Centre, which will result in a huge relief to the exchequer of the State Governments concerned.