New Delhi: Government’s decision to fund projects critical to the development of north eastern region as well as in accordance with national priorities from a non-lapsable central pool will help fasttrack development of such projects in the region, official sources said.
Currently, the central pool of non-lapsable fund has Rs 9,217.32 crore in its kitty, the sources added.
The decision was approved by the Union Cabinet on Thursday under a new central sector plan for the region.
Named the “non-lapsable central pool of resources – central”, the plan proposal was made by Ministry of Development of North Eastern Region, an official statement said after the Cabinet meeting.
“The purpose of this proposal is to make funds available for projects which are critical to the development of the northeastern region and are in accordance with national priorities,” it said.
“………projects having the potential for extensive social and economic impact on the region will be taken up under the scheme,” it added.
The central pool of resources for development of northeastern region was created in 1998, which makes it mandatory for most central ministries and departments to earmark 10 per cent of their budgetary resources for specific schemes, projects, programmes in the northeastern states.
This pool currently holds a balance stand of Rs 9,217.32 crore. (UNI)