New Delhi, July 3 (IANS) There is a need to mobilise additional resources for the North-Eastern Region (NER) and an infusion of private funding is likely to accelerate development, experts said on Wednesday.
At the CSR Connect, launched by the Confederation of Indian Industry (CII), to infuse corporate investment into social development in North East, Dr Sukanta Majumdar, Minister of State, Ministry of Development of North Eastern Region said that the initiative aims to bridge the gap between the corporate sector and the North East’s socio-economic development, through impactful initiatives in partnership with the government.
The minister highlighted that the Rs 10,000 crore ‘UNNATI Scheme’ introduced for the North East will bring in investments into the region.
“The Central Ministries are spending 10 per cent of their Gross Budgetary Support in the NER not only through their ongoing schemes but also through dedicated schemes for the region. This shows the focus towards the region,” he added.
Over the eight-year period (2014-15 to 2022-23), the region has been growing at a CAGR of 6.77 per cent which is higher than the national average of 5.43 per cent.
The region contributed to 2.95 per cent of the national GDP (2022-23 at constant prices), CII mentioned.
Chanchal Kumar, IAS, Secretary, Ministry for Development of North Eastern Region said that the CSR contribution in NER is limited and needs to be addressed at the policy level.
“The state government should develop a repository of investible projects for each state for attracting CSR investments,” he added.
In addition, R Mukundan, VP, CII and MD, Tata Chemicals Limited said that over the last 10 years, the journey of CSR moved from a “2 per cent compliance-oriented approach to an increased focus on transparency and impact orientation.”
–IANS
shs/rad
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
