North East News Agency

Wait for the new industrial policy for the region will be little longer as the Cabinet Committee on Economics Affairs (CCEA) has reffered referring it to the Group of Ministers (GoM) for study. The term of the ongoing industrial policy will expire on March 31. The GoM has been asked to submit its report before that so that the new policy can be implemented from April 1, according to Union Finance Minister, P Chidambaram.

Organisations representing the industries, investors as well as the State Governments of the North Eastern Region (NER) are expecting that the new policy will have added incentives for the region. It may be mentioned here that because of geographical disadvantage and lack of infrastructure, no noteworthy industrial development has taken place in the region.

According to the experts, the earlier industrial policy for the region announced in 1997 has failed to contribute to for development due to its extension to other states like Uttaranchal, Himachal Pradesh and Jammu and Kashmir.

Meanwhile, Assam Chief Minister Tarun Gogoi has observed that the NEIP has to be reviewed. His other demand is that the new industrial policy should be allowed to continue for period of at least 10 years. ‘Unless a serious attention is given, the dream of removing regional imbalance in development which is a focus area in the strategy for development planning will not be fulfilled, Mr. Gogoi recently told the journalists.

Though it put the new industrial policy on hold, the Union Cabinet cleared setting up of Rajiv Gandhi Indian Institute of Management in Shillong. The Government of India would incur a cost of Rs 120.67 crore towards non-recurring over a period of five years and Rs 45.08 crore for recurring expenditure over a period of six years. The Cabinet also approved the Meghalaya Government’s proposal to provide the land for the Institute free of cost, besides creation of a posts of Director and Chief Administrative Officer along with support staff. Meghalaya Government has offered 120 acres of land free of cost for the IIM. Announcing the decision, Union Information and Broadcasting Minister, Priyaranjan Dasmunshi who is also the cabinet spokesman, said the professional managers trained by the new institute would promote economic and industrial development of the NFR as well as the country. The IIM is to have an annual intake of 60 students in the first year.

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