DIMAPUR: Union finance minister Nirmala Sitharaman said Nagaland requires huge investment and corporate social responsibility (CSR) projects for infrastructure and social development.
“Infrastructure is a big issue in Nagaland and the state faces bigger challenges because of its hilly terrain,” Sitharaman said while addressing a press conference at police complex in Chumukedima after concluding her three-day visit to the state on Wednesday.
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She noted that the state requires a lot of resources and that it is yet to get as much investment as it needs.
She said quite a few investors and industries have come forward to invest in the state, adding a big number of projects have been brought to the state under CSR.
Launching several initiatives and MoUs under CSR extended by various companies on day one of her visit at Nagaland CSR and Investment Conclave in Kohima on August 22, Sitharaman urged corporate and industries to choose Nagaland though it may take a little bit of effort.
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She also spoke about the growing importance of healthcare and logistics in the state.
During her visit, Sitharaman said she had a complete review of districts that are getting bank benefits. She said the banks have been asked to go to all the districts and provide loans to all the eligible people.
Highlighting the initiatives taken by the Centre for Nagaland, she said special assistance in the form of a grant-in-aid of Rs 219.15 crore was released to the state in 2020-21.
She said tax devolution in Nagaland has increased to Rs 13,782 crore during 2014-2019 compared to Rs 3,844 crore in 2009-2014. She added that grants-in-aid to the state increased to Rs 29,483 crore during 2014-19 from Rs 20,812 crore in 2009-2014.
Stating that tax devolution in the state stood at Rs 3,409 crore in 2020-21, Sitharaman said the devolution amount increased to Rs 4,875 crore in 2021-2022 and Rs 4,647 crore in 2022-23 (BE) of which Rs 813 crore has already been transferred to the state. She said the Finance Commission grants from the Centre to Nagaland are budgeted at Rs 4, 773 crore in 2022-23, a significant increase over the Rs 1283 crore released in 2009-2010.
On the banking and financial inclusion in Nagaland, she said the number of account holders in Jan Dhan account stood at 3.50 lakh. She added that there are 271 bank branches, both public sector and private, in Nagaland.
Regarding the Kohima Smart City project, Sitharaman said 17 out of 35 projects have been completed. The central government has released a total of Rs 245 crore for the project, out of which Rs 195.99 crore has been utilised as of July 8, 2022.
She also spoke about the initiatives taken by the Centre for entire northeastern states.
Nagaland chief minister Neiphiu Rio and deputy chief minister Y Patton were also present at the press conference.
She also held an interactive session with the business community and women entrepreneurs at the police complex on the day.