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Time of India
2 days ago
- Business
- Time of India
FM reaffirms Centre's commitment to NE devpt at Shillong stakeholder meet
1 2 Shillong: Union finance minister Nirmala Sitharaman chaired a stakeholder interaction in Shillong on Saturday, where she engaged directly with business leaders, entrepreneurs, industry representatives and citizens, reaffirming the Centre's commitment to the development of the northeast. The event was organised by the Govt of Meghalaya in collaboration with the department of financial services, Central Board of Indirect Taxes & Customs (CBIC) and the Central Board of Direct Taxes. The session was attended by CBIC chairman Sanjay Kumar Agarwal, CBIC member Mohan Kumar Singh and senior officials from the Union ministry of finance, the Govt of Meghalaya and associated departments. In a recognition, Sitharaman felicitated Rimiful Shylla and Wanjoplin, two of Meghalaya's top women taxpayers, for their commendable contribution to the nation's tax system. During the interaction, stakeholders shared a range of observations and suggestions. Key issues included the need to ensure a balanced approach to the development that upholds environmental sustainability, the importance of fostering research and development and financial assistance for institution involved in R&D and greater policy attention to the hospitality sector. Participants also highlighted the need to bring local industries under the Targeted Champion Sector Scheme, extend better access to credit and markets for startups and MSMEs — especially those rooted in the northeast — and enhance central infrastructure investments to boost regional industrial growth. Concerns over high logistics costs because of the region's geographical challenges were also raised, with calls for rationalised transport subsidies. Sitharaman welcomed the inputs and reaffirmed the Centre's commitment to inclusive, responsive and region-specific governance. She underscored the importance of participatory policy-making and said the govt is working to make tax systems and financial frameworks more accessible for all stakeholders.
United News of India
2 days ago
- Business
- United News of India
Meghalaya businesses, entrepreneurs voice concern during a meeting with Sitharaman
Shillong, July 12 (UNI) Union Finance and Corporate Affairs Minister Nirmala Sitharaman today chaired a stakeholder interaction here in Meghalaya, where she engaged directly with business leaders, entrepreneurs, industry representatives and citizens. During the interaction, stakeholders shared a range of observations and suggestions. Key issues included the need to ensure a balanced approach to development that upholds environmental sustainability, the importance of fostering research, development, and financial assistance for institutions involved in R&D, and greater policy attention for the hospitality sector. The stakeholders also highlighted the need to bring local industries under the Targeted Champion Sector Scheme, extend better access to credit and markets for startups and MSMEs, especially those rooted in the northeast, and enhance Central infrastructure investments to boost regional industrial growth. Local businesses and entrepreneurs also voiced concerns over high logistics costs due to the region's geographical challenges, with calls for rationalised transport subsidies to improve competitiveness. Welcoming the inputs shared by the stakeholders, Sitharaman reaffirmed the Union Government's commitment to inclusive, responsive, and region-specific governance. She underscored the importance of participatory policy-making and stressed that the government is actively working to make tax systems and financial frameworks more accessible and efficient for all stakeholders. The Finance Minister also encouraged continued engagement between citizens, industry, and policymakers as a means to co-develop effective development strategies. To facilitate structured follow-up, the Union Minister advised that such proposals and sectoral concerns be routed through the respective ministries and the Ministry of Development of North Eastern Region (DoNER) for appropriate evaluation and action. She reiterated the Centre's dedication to working in close partnership with state governments and local stakeholders to realise a shared vision for a prosperous, sustainable, and innovation-driven northeast. The interaction programme was organised by the Meghalaya government in collaboration with the Department of Financial Services (DFS), Central Board of Indirect Taxes & Customs (CBIC), and Central Board of Direct Taxes (CBDT). The session was attended by Central Board of Indirect Taxes and Customs (CBIC) Chairman, Sanjay Kumar Agarwal, CBIC Member Mohan Kumar Singh, and senior officials from the Ministry of Finance, Meghalaya government, and associated departments. In a notable recognition, during the programme, Sitharaman felicitated Rimiful Shylla and Wanjoplin, who are among Meghalaya's top women taxpayers, for their commendable contribution to the nation's tax system. UNI RRK AKT PRS
