Consultative Committee meeting chaired by Minister of North Eastern Region
The Union Minister Dr Jitendra Singh chaired the Parliamentary Consultative Committee meeting of the North Eastern Region on December 12, 2019. The issues of development of North East was discussed at the meeting.
At the meeting the issue of utilization of 10% of GBS in the North East Region was discussed. With Government of India prioritizing development project in North East India, allocating the right amount for the projects is essential. Also, the ministry invited other ministries to approach DoNER to identify projects. The GBS allocated for the North East Region for the year 2019-20 is 59,369 crores.
In 1996, it was decided that all the ministries will set apart 10% if their GBS to the North East Region unless exempted.
What is GBS?
GBS is Gross Budgetary Support. It includes sources of revenue raised by the Government and tax collection. The amount to be allocated to GBS is fixed by the Finance Commission. It collects the requirement of all the ministries and fixes the amount based on priority. Like other budget, GBS is also split into revenue and capital components.
Infrastructure Projects in North East India
In order to hasten the development of North East Region, GoI set up Special Infrastructure Development Scheme in 2018. Under the scheme, so far 1765 crores of rupees have been allocated. The scheme focuses on physical infrastructure like power connectivity, water supply, connectivity to enhance tourism, etc and social sector creation infrastructure such as primary and secondary health and education development.
Category: Economy & Banking Current Affairs