Latest news with #ExternallyAidedProjects
Hindustan Times
3 days ago
- Business
- Hindustan Times
FM Sitharaman praises Meghalaya's progress, full utilisation of ₹5,400 crore SASCI funds
Shillong, Union Finance Minister Nirmala Sitharaman on Friday praised Meghalaya's progress under Chief Minister Conrad K. Sangma, calling the state a model of effective and purposeful development. FM Sitharaman praises Meghalaya's progress, full utilisation of ₹ 5,400 crore SASCI funds She highlighted the state's exemplary utilisation of its entire allocation of ₹5,400 crore under the Special Assistance to States for Capital Investment , setting an example for other states to follow. Speaking at a programme, Sitharaman said, "While some states are unable to fully utilise their shares, Meghalaya has effectively used its entire allocation to build capital assets. I will put on record my appreciation of Meghalaya's efforts." She reaffirmed the Centre's commitment to the Northeastern region, adding, "The government looks at the region as one to empower, act, strengthen and transform." The FM also pointed out key development achievements in the state, including the construction of over 540 km of roads and a five-fold increase in optical fibre coverage since 2014. She praised the state's performance in centrally sponsored schemes such as the Jal Jeevan Mission, PM Awas Yojana, PM Jeevan Jyoti Bima Yojana, and the Swachh Bharat Mission. CM Sangma, while addressing the gathering, said the state government follows a model of purpose-based, target-based, and result-based governance. He reaffirmed the government's ambition of making Meghalaya one of the top 10 states in India by 2032 and informed her that the state was now on the verge of becoming a $6-billion economy, with a growth rate nearing 15 per cent, significantly higher than the national average. The CM also highlighted how the state leveraged a large number of schemes and projects through Externally Aided Projects , which have served as a key source of funding for smaller states. The total funding through Es is nearing ₹12,000 crore, supporting a wide range of development initiatives across Meghalaya, he said. A series of important projects were launched during Sitharaman's visit. Among them was the initiative to establish digital libraries in remote areas of the state, with a total budget of ₹162 crore under SASCI. Implemented by the State Rural Employment Society, the project aims to set up 750 digital libraries across rural areas, connecting youth to the National Digital Library and fostering a reading culture. The redevelopment of Umiam Lake was another key project inaugurated with a funding of ₹120.81 crore under SASCI. The initiative aims to transform the waterbody into a world-class eco-tourism hub, expected to attract over 1.27 lakh tourists annually and create nearly 4,000 jobs. Sitharaman also laid the foundation for the development of MICE and tourism infrastructure at Mawkhanu, with a total investment of ₹103 crore. Spread across 106 acres, the project includes a Meghalayan Experience Theme Park, an open-air amphitheatre, and festival zones designed to boost tourism beyond Shillong. A major highlight of the announcements was the proposed ₹732-crore Mawkhanu Football Stadium, a state-of-the-art complex with a residential football academy developed in partnership with NorthEast United FC. The project reinforces Meghalaya's reputation as the football capital of India. The FM also launched a project to construct working women's hostels with a total investment of ₹132 crore under SASCI. These hostels will provide safe and affordable accommodation, with 400 beds in Shillong and 200 beds each in Jowai, Byrnihat, and Tura. In addition, the Union minister inaugurated the office-cum-residential complex for the Central Board of Indirect Taxes and Customs at New Shillong, with a budget of ₹256.23 crore, to strengthen administrative operations in the state. Another significant project was the launch of the Northeast Regional Campus of the Indian Institute of Corporate Affairs at Mawkhanu. The ₹100.95 crore campus, funded under the Prime Minister's Development Initiative for North East Region , will serve as a premier centre for corporate governance, economic research, and capacity-building. This marks the first time that the IICA is establishing a presence outside Delhi. A cheque distribution ceremony was also held, where beneficiaries of schemes such as PM MUDRA, PM SVANidhi, PMEGP, and NPS Vatsalya received financial support. In a significant boost to Meghalaya's organic farming sector, Sitharaman also flagged off a two-metric-tonne consignment of premium organic pineapples to LULU Retail in Dubai. This consignment, under the IFAD-supported Megha-LAMP initiative, was sourced from farmers of the Jirang Organics Farmer Producer Company in Ri-Bhoi. Speaking to reporters, Sitharaman said 92 villages in the state, located along the India-Bangladesh border, have been selected under the second phase of the Centre's Vibrant Village Programme and will be designated as the "first villages of India." Sitharaman said the move underscores the strategic and development importance of border villages. Sitharaman highlighted that the VVP is part of a broader government initiative aimed at ensuring the development of villages along India's borders with countries such as Bangladesh, Myanmar, Tibet, China, and Nepal. The programme aims to transform remote and often neglected settlements into hubs of infrastructure, connectivity, livelihood, healthcare, and education, she added. This article was generated from an automated news agency feed without modifications to text.
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Business Standard
3 days ago
- Business
- Business Standard
FM Sitharaman hails Meghalaya's growth, praises full use of SASCI funds
Union Finance Minister Nirmala Sitharaman on Friday praised Meghalaya's progress under Chief Minister Conrad K. Sangma, calling the state a model of effective and purposeful development. She highlighted the state's exemplary utilisation of its entire allocation of ₹5,400 crore under the Special Assistance to States for Capital Investment (SASCI), setting an example for other states to follow. Speaking at a programme, Sitharaman said, "While some states are unable to fully utilise their shares, Meghalaya has effectively used its entire allocation to build capital assets. I will put on record my appreciation of Meghalaya's efforts." She reaffirmed the Centre's commitment to the Northeastern region, adding, "The government looks at the region as one to empower, act, strengthen and transform." The FM also pointed out key development achievements in the state, including the construction of over 540 km of roads and a five-fold increase in optical fibre coverage since 2014. She praised the state's performance in centrally sponsored schemes such as the Jal Jeevan Mission, PM Awas Yojana, PM Jeevan Jyoti Bima Yojana, and the Swachh Bharat Mission. CM Sangma, while addressing the gathering, said the state government follows a model of purpose-based, target-based, and result-based governance. He reaffirmed the government's ambition of making Meghalaya one of the top 10 states in India by 2032 and informed her that the state was now on the verge of becoming a $6-billion economy, with a growth rate nearing 15 per cent, significantly higher than the national average. The CM also highlighted how the state leveraged a large number of schemes and projects through Externally Aided Projects (EAPs), which have served as a key source of funding for smaller states. The total funding through EAPs is nearing ₹12,000 crore, supporting a wide range of development initiatives across Meghalaya, he said. A series of important projects were launched during Sitharaman's visit. Among them was the initiative to establish digital libraries in remote areas of the state, with a total budget of ₹162 crore under SASCI. Implemented by the State Rural Employment Society, the project aims to set up 750 digital libraries across rural areas, connecting youth to the National Digital Library and fostering a reading culture. The redevelopment of Umiam Lake was another key project inaugurated with a funding of ₹120.81 crore under SASCI. The initiative aims to transform the waterbody into a world-class eco-tourism hub, expected to attract over 1.27 lakh tourists annually and create nearly 4,000 jobs. Sitharaman also laid the foundation for the development of MICE (Meetings, Incentives, Conferences, and Exhibitions) and tourism infrastructure at Mawkhanu, with a total investment of ₹103 crore. Spread across 106 acres, the project includes a Meghalayan Experience Theme Park, an open-air amphitheatre, and festival zones designed to boost tourism beyond Shillong. A major highlight of the announcements was the proposed ₹732-crore Mawkhanu Football Stadium, a state-of-the-art complex with a residential football academy developed in partnership with NorthEast United FC. The project reinforces Meghalaya's reputation as the football capital of India. The FM also launched a project to construct working women's hostels with a total investment of ₹132 crore under SASCI. These hostels will provide safe and affordable accommodation, with 400 beds in Shillong and 200 beds each in Jowai, Byrnihat, and Tura. In addition, the Union minister inaugurated the office-cum-residential complex for the Central Board of Indirect Taxes and Customs (CBIC) at New Shillong, with a budget of ₹256.23 crore, to strengthen administrative operations in the state. Another significant project was the launch of the Northeast Regional Campus of the Indian Institute of Corporate Affairs (IICA) at Mawkhanu. The₹ 100.95 crore campus, funded under the Prime Minister's Development Initiative for North East Region (PM-DevINE), will serve as a premier centre for corporate governance, economic research, and capacity-building. This marks the first time that the IICA is establishing a presence outside Delhi. A cheque distribution ceremony was also held, where beneficiaries of schemes such as PM MUDRA, PM SVANidhi, PMEGP, and NPS Vatsalya received financial support. In a significant boost to Meghalaya's organic farming sector, Sitharaman also flagged off a two-metric-tonne consignment of premium organic pineapples to LULU Retail in Dubai. This consignment, under the IFAD-supported Megha-LAMP initiative, was sourced from farmers of the Jirang Organics Farmer Producer Company in Ri-Bhoi. Speaking to reporters, Sitharaman said 92 villages in the state, located along the India-Bangladesh border, have been selected under the second phase of the Centre's Vibrant Village Programme (VVP) and will be designated as the "first villages of India." Sitharaman said the move underscores the strategic and development importance of border villages. Sitharaman highlighted that the VVP is part of a broader government initiative aimed at ensuring the development of villages along India's borders with countries such as Bangladesh, Myanmar, Tibet, China, and Nepal. The programme aims to transform remote and often neglected settlements into hubs of infrastructure, connectivity, livelihood, healthcare, and education, she added.
The Hindu
05-06-2025
- Business
- The Hindu
Polavaram-Banakacherla project DPR being readied for submission to Centre: Naidu
Chief Minister Nara Chandrababu Naidu outlined the importance of the construction of the Polavaram-Banakacherla Irrigation Project with the Council of Ministers during a meeting held at the Secretariat in Amaravati on Wednesday. Mr. Naidu said that the project would cost an estimated ₹82,000 crore, for which the State government was preparing to submit the Detailed Project Report (DPR) to the Centre. This project would provide water for drinking, irrigation and industrial needs of the drought-prone Rayalaseema. The State government has almost finalised a financial model for the project, in coordination with the Centre. Minister for Information and Public Relations Kolusu Parthasarathy said that the State government had proposed to raise funds for the project from different sources, including 50% of funds in the form of loans under Externally Aided Projects (EAPs), 20% from the Centre, 10% from State government and the rest 20% under Hybrid Annuity Model (HAM). The Chief Minister also discussed the financial burden on the State exchequer for the welfare schemes such as Talliki Vandanam, aimed at providing annual financial assistance for schoolchildren. Mr. Naidu said that the Annadata Sukhibhavascheme is likely to be launched this month for the benefit of the farmers. Mr. Naidu asked the Cabinet Ministers to ensure a grand success of the Yoga Day by encouraging more participants. On the other hand, the Ministers and Mr. Naidu opined to postpone the celebrations of one-year completion of the NDA government in Andhra Pradesh due to various other programmes scheduled for this month.
