Industry bodies across the Northeast have warmly welcomed the Union Budget 2026-27. They see it as creating a positive and enabling policy environment for diverse sectors. This move is expected to significantly contribute to inclusive and sustainable economic growth throughout the region.
Mahesh Saharia of the Indian Chamber of Commerce highlighted a crucial financial increase. He welcomed the 47 percent rise in allocation for the Ministry of DoNER. This boost takes the total funding to Rs 5,915 crore, which will be vital for regional development.
This enhanced funding is set to play a crucial role. It will strengthen infrastructure, social development, and economic capacity across all Northeastern states. The investment promises to lay a stronger foundation for future progress.
Bhaskar Phukan from CII Assam pointed out specific cultural and agricultural initiatives. He stated the Buddhist circuit initiative is a significant step for unlocking tourism potential. Furthermore, promoting the agarwood sector will strengthen sustainable cultivation and exports.
These focused efforts aim to create rural livelihoods and support MSME growth. The benefits are expected to be particularly felt in states like Assam and Tripura. This targeted approach addresses both economic and cultural assets.
Ranjit Barthakur of FICCI Northeast emphasized the budget’s foundational pillars. He noted the continued emphasis on public capital expenditure, manufacturing, and infrastructure. This provides a solid foundation for long-term growth and employment generation.
He also highlighted the importance of logistics expansion. The push for national inland waterways and multimodal logistics is extremely important for the Northeast. Assam, in particular, stands to gain from improved connectivity.
Larsing Sawyan, also from FICCI, focused on grassroots opportunities. He said the focus on tourism, sports, skilling, and agriculture will help create livelihood opportunities. This multi-sectoral approach aims to benefit communities directly.
The Federation of Industry & Commerce of North Eastern Region (FINER) welcomed the government’s fiscal discipline. They appreciated the persistence on reform over rhetoric. Maintaining this discipline is seen as a bedrock for stable growth.
A key focus of the budget is on strengthening MSMEs. The creation of Champion SMEs and a proposed Rs 10,000 crore SME Growth Fund is a major step. This is expected to improve access to finance for small and medium enterprises.
These measures aim to strengthen the backbone of the regional economy. Improved funding can lead to expansion, innovation, and job creation. The MSME sector is often the largest employer in developing regions.
Assam Chamber of Commerce chairman Rupam Goswami affirmed the budget’s direction. He said it strengthens the growth path specifically for the Northeast. The strategic focus areas are designed to unlock immense potential.
The budget’s focus includes infrastructure expansion and enhanced connectivity. It also promotes tourism, strengthens healthcare, and aims for livelihood generation. Together, these will significantly contribute to unlocking social and economic potential.
AREIDA president PK Sharma welcomed the attention on smaller cities. The emphasis on Tier II and Tier III cities, along with temple towns, is encouraging. This signals a move towards more balanced regional development.
This focus is supported by significant allocations for modern infrastructure and basic amenities. Improving these areas makes smaller cities more livable and investment-friendly. It can help decongest major urban centers and spread prosperity.
Overall, the Union Budget 2026-27 has been met with widespread approval from Northeastern industry leaders. They see it as a tailored plan addressing the region’s unique needs and opportunities. The consensus is that it sets a promising course for the future.