Economy / Assam

GUWAHATI, June 27 – If Assam remains underdeveloped today, compared to the rest of the country, a large part of the blame has to go to the all-India financial institutions (AIFIs) who have, over the years, invested little in this part of the country. This, when they have no qualms in garnering resources from the region. Available data suggest that Assam has not been receiving due attention in respect of sanction and disbursement of finance by these institutions when compared with the position of some of the comparatively developed States as well as the country as a whole. As a result, the...

GUWAHATI, June 26 – The Asian Development Bank (ADB) has threatened to drop the promised loan to the Assam Government for power sector reforms because of the failure of the government to comply with the reform conditions. In a letter to the Department of Expenditure of the Finance Ministry, a copy of which was also forwarded to the Chief Secretary, Assam, the director of the ADB Sharmila Chavaly said that the Bank processed a loan for the power sector in Assam last year and about 250-million dollar loan was in the pipeline for the current calendar year.

But an internal review to ascertain the...

GUWAHATI, June 24 – The Centre’s move to hand over the Amguri oilfield to a Canadian firm on July 1 has run into a roadblock with the All India Petroleum Workers’ Federation (AIPWF) and the ONGC Workers’ Association (OWA) vowing to stall the move. The two organisations have called a 24-hour strike in all the Oil and Natural Gas Corporation (ONGC) installations in the State on that day to protest the Government move.

Addressing newspersons here today, former Assam Minister and president of the AIPWF and OWA, Promode Gogoi, condemned the decision of the Petroleum Ministry to hand over the...

GUWAHATI, June 20 – The annual floods witnessed in Assam have been one of the primary factors behind its economic backwardness. It has resulted in losses worth hundreds of crores of rupees not to speak of the loss of human lives. In 2002 alone, the loss suffered by the State due to floods has been calculated at almost Rs 187 crore. On top of that 65 lives were lost due to the deluge. Figures supplied by the State Water Resources Department (WRD) say that during the Ninth Five Year Plan period, from 1997 to 2001, the State suffered losses worth Rs 789 crore. Almost 200 people lost their lives...

GUWAHATI, June 18 – Indian industries are facing stiff challenges following free flow of third country products across the international border. The problem in the North East is more apparent as most of the markets are being flooded by these cheap products, posing a serious threat to the Indian industries.

The third country products are generally brought from Myanmar and then sold to different markets as per demand of the people. Porous Indo-Myanmar border and lack of enforcing agencies are helping the traders to run their business without any hindrance.

In Guwahati, three markets...

GUWAHATI, June 18 – In a major boost to the State’s agrarian economy, the World Bank (WB) has decided to sanction a loan worth Rs 901 crore to Assam for undertaking various projects under the Assam Agricultural Competitive Project (ACCP) 2004-09. The ACCP Task Manager Robert Epworth conveyed the good news to Chief Minister Tarun Gogoi when he led a team to meet the latter at the Janata Bhawan here today.

The total loan component, together with the state’s contribution, would come to around Rs 966.82 crore. Of this, 47 percent would be spent on rural roads, 26 percent on agriculture and farm...

GUWAHATI, June 18 – The clouds of uncertainty over the much-anticipated Assam Gas Cracker Project seem to have somewhat disappeared with the energy major Gas Authority of India Limited (GAIL) evincing keen interest to set up the mega project subject to fulfilment of certain conditions. Conveying its decision to go ahead with the project, Proshanto Banerjee, Managing Director, GAIL, today revealed before the Chief Minister during a high-level meeting at the Janata Bhavan that it was ready to establish the project provided certain conditions were met. The conditions that the GAIL has set include...

Dibrugarh, June 17: The Ulfa extortion machinery is up and running after the Bhutan-induced stupor, and the tea industry is again the prime target. The general-officer-commanding of the army’s 4 Corps today said the Ulfa was desperate for money to reorganise its units, some of which took a severe beating during the military operation by Bhutan.

“The militant group is desperate to resurrect itself in the region. We are in touch with the big tea companies and other likely targets of its extortion campaign,” Lt Gen. Anup S. Jamwal told the media at the army’s Dinjan base in Dibrugarh district....

GUWAHATI, June 16 – The tea industry in the Barak Valley is facing a fresh crisis with the labourers threatening to go on strike demanding a hike in wages. This is the second major crisis faced by the industry within the last couple of months as floods and hailstorm in April created havoc in the gardens in the valley. The stalemate over the wage hike demand is yet to be settled and the meeting between the Consultative Committee of Tea Planters Associations and the leaders of the Assam Chah Sramik Sangha, held recently failed to arrive at a consensus on the issue. The gardens in the Barak...

Guwahati, June 15: The Tarun Gogoi government and the World Bank are close to signing an agreement to put in place a “market-driven rural economy” with assistance of around Rs 917 crore from the latter. Headed by Australian Robert Epworth, an eight-member World Bank delegation is in the state on an “appraisal mission”. The delegation is reviewing presentations by the several departments that would form part of the five-year programme Assam Agriculture Competitiveness Project (AACP), which is tipped to take-off in November. The team will meet chief minister Tarun Gogoi on June 18.

Highly-placed...