Development mantra

President’s emphasis on developmental activities in the North-East region is a welcome move. Because development is the only weapon through which we can combat the dual menace of backwardness and insurgency.

Among the announcements made by the President while addressing the joint session of Parliament, most important is the decision draw a new industrial policy for the North-East. Since the new economic policy was announced way back in 1991, several measures such as tax benefit, setting up of separate financial institution for the region etc. had been taken. These steps have certainly benefited the region. But still there is a long way to go.

One can hope that the new industrial policy will be able to ensure speedy economic development of the region. Before finalizing the details of the new policy, the policymakers should keep few important characteristics of the region in mind. North-East is rich in natural resources, yet the region is backward and poor. Stress should be given for proper utilization of the natural resources available in the region. Industry based on the natural resources available in the region should be given priority. The Centre has already a taken a positive step in the direction which the President has also mentioned in his speech. The Centre has made almost Rs. 10,000 investment in thermal power projects in the North-East which will use local coal and gas. At this present moment what we all can hope is that that the endeavour of proper utilization of natural resources will continue.

Another aspect which needs urgent attention is the flight of capital from the region to outside. As this is continuing for long, local populace is apprehensive about the presence of outsiders in the region and it has given birth to certain enmity among the people. Thus the new industrial policy should encourage local entrepreneurs.

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