Economy / Northeast

NEW DELHI, May 21 ? The hard-hit north-eastern States particularly Assam is likely to see a turn-around in the flow of funds in rural development sector, with the Centre contemplating to change the funding pattern to 90:10 from the prevailing 75:25. The likely shift in funding pattern by Rural Development Ministry to the one adopted by Planning Commission is in response to plea by States like Assam and a favoured recommendation by an inter-ministerial committee constituted by the ministry.

Notwithstanding the change in the funding pattern that is likely to lead to windfall of funds, estimated...

IMPHAL, May 13 ? The transporters? strike in Manipur, which entered its fifth day on Monday, has affected Indo-Myanmar trade at the border town of Moreh in Chandel district, official sources said, reports PTI. Keeping in view the huge financial loss, government was considering various strategies to strengthen security measures along the Imphal-Moreh NH-39, the sources said. The Imphal-Moreh Road Transporters Joint Action Committee which had launched the indefinite strike since May 9 was demanding government action to check extortion from vehicle owners and some government offices by the...

GUWAHATI, May 12? At a time when the Centre is trying to boost export between North-East India and Myanmar in a bid to garner revenue, the export growth rate has fallen drastically in the region. The exporters of the North-east are worried over the prevailing situation as no big company is willing to invest in the region. According to official statistics, the export growth rate between North-east India and Myanmar across the Moreh border, which was recorded at 4.2 per cent during the past couple of years, now has gone down to 2.1 per cent only. The poor growth rate is attributed to lack of...

GUWAHATI, May 12 ? North Eastern Development Finance Corporation Limited (NEDFi) has succeeded in complying with the Prime Minister?s directive on disbursing at least Rs 50 crore per year during the last two fiscal years. The Chairman-cum-Managing Director (CMD) of the NEDFi, Sri JP Saikia yesterday informed that the Prime Minister during his visit to North-East in January, 2000 had announced that the Corporation would disburse at least Rs 50 crore a year. Though it meant 240 per cent increase in its operation yet NEDFi achieved the target by releasing Rs 50.46 crore during 2000-01 and Rs 50...

BANGKOK, May 9 ? India and Thailand are looking at widening the trade basket between the two countries, and boosting tourism between Thailand and the North East of India, Indian Ambassador here Leela K Ponnappa said, reports PTI. With Thailand?s contribution being over a billion US dollars, ?we are both each others partners and competitors,? she told visiting journalists from North East and Bihar. The economic crash in 1997 also made Thailand to take a relook at its economic policy of looking westward. Instead it rediscovered India as a potential partner, she said. Ponnappa said that there...

MOREH (Manipur), May 10 ? Indo-Myanmar border trade in this border town in Chandel district was severely affected due to non-plying of vehicles between Imphal and this border town following demand for ?heavy tax? from vehicle owners by underground NSCN(I-M), reports PTI. Sources in the police and Vehicle Owner?s Association said they would not ply vehicles unless adequate security arrangements were made by the State authorities. The NSCN(I-M) had served notices to all owners of vehicles plying along Imphal-Moreh National Highway No. 39 that unless tax was paid by them, they would not be...

Imphal, May 09: Indo-Myanmar border trade has been severely affected following the indefinite transport strike called by the Imphal-Moreh Road Transporters' Joint Action Committee on the Imphal-Moreh Road from today protesting the imposition of hefty vehicle "taxes" by UGs. Goods and items worth several crores of rupees are transacted daily at Moreh and its adjoining Myanmar town, Namphallong. Plying of both passenger and goods vehicles came to a screeching halt on the Imphal-Moreh road as a result of the strike. Trucks and auto-rickshaws have not been allowed to ply. The JAC has made stern...

NEW DELHI, April 29 ? As many as 75 of the total 86 operational airports in the country were consistently making losses with Guwahati topping the list incurring losses of over Rs 25 crore in 2000-01, the Lok Sabha was informed today, reports PTI. Civil Aviation Minister Syed Shahnawaz Hussain said in a written reply that Trivandrum (Rs.9.96 crore), Nagpur (Rs. 9.85 crore) and Lucknow (Rs. 9.21 crore) are the among major loss-making airports.

NEW DELHI, April 25 ? Meghalaya ranked lowest in utilisation of funds from the Centre?s non-lapsable Central pool of resources scheme for the speedy development of the north-eastern region while Tripura topped the list for maximum per capital utilisation of the allocated money, reports PTI. ?The largest amount of Rs 293.16 crore was released for various projects in Assam during the last four financial years allowed by Rs 215.29 crore for Tripura.

The lowest release of Rs 66.81 crore was for Meghalaya due to poor utilisation of funds and lack of viable project proposals,? PD Shenoy, secretary...

GUWAHATI, April 24 ? Encouraged by the increasing volume of trade between Assam and Bangladesh during the past several years, the Centre has sanctioned Rs 12 crore for development of two trade points in the State. The fund has been sanctioned for Sutarkandi and Mankachar in order to upgrade the existing infrastructure. Highly placed official sources told The Assam Tribune that the State industry department had already initiated work to develop the Sutarkandi point keeping in view the trade potential in the State. ?We have received Rs 1 crore so far for setting up a truck terminus and bank...