DoNER Ministry to offer incentives for 'Start-Ups' in Northeast

NEW DELHI: Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh has announced incentives for startup entrepreneurship in Northeast and said, this would encourage avenues of employability and livelihood not only for youth from the region, but also from all over the country.

Speaking at an interactive programme organized by the Northeast MPs’ Forum here yesterday, Dr Jitendra Singh said, “Startup India, Standup India” is the most unique programme in the world ever started anywhere and it offers unprecedented incentives like 3 years of tax holiday and 3 months of exit period.

In addition to the incentives already announced in the programme, Dr Singh said, the Ministry of DoNER has decided to provide an additional incentive of Venture Capital Fund for any youngster from any part of India who wishes to set up a "Start-Up" entrepreneurship in Northeast. Besides, he said, the North East Development Finance Corporation (NIDFi) also has provision to provide easy loans to set up entrepreneurship.

With enormous unexplored avenues including organic farming and manufacturing, he said.

Northeast has the capacity to emerge as the favourite destination for young startups from all over India, he added.

Dr Singh also disclosed that "Northeast Industrial Policy" has also been revived.

Citing some of the achievements of the Ministry of DoNER during the last one year, Dr Singh disclosed, with the measures to ease the procedures for submission of DPRs and Utilization Certificates, there is not only an increase in the number of projects completed every year, but the pendency of Utilization Certificates has also decreased.

In order to overcome the delays in execution and spending of funds, Dr Singh said, the Ministry of DoNER has set an example in the last two years by experimenting with out-of-the-box options.

For example, he said, the DPRs from the State Governments are now routed directly to the concerned Union Ministry without going to the DoNER Ministry which only acts as facilitator, coordinator and expediter.

Similarly, to make the submission of Utilization Certificates more prompt and authentic, Space Technology applications have been involved to a substantial extent, he said.

The DoNER Ministry, Dr Singh said, has gone beyond the mandate of only development and engaged itself in inter-ministerial interaction with other Ministries to push forward the process of setting up new airports and expansion of rail network.

He disclosed that the extension of the air-strip at the Shillong Airport will be funded by the DoNER Ministry and similarly, the construction of the Agartala to Bangladesh rail track will also be funded by the DoNER Ministry for the portion of the track on the Indian side.

The meeting was attended by Members of Parliament from eight North Eastern States and representatives of various trade organizations. Prominent among those present on the occasion were MoS Home Shri Kiren Rijiju, MoS Railways Rajen Gohain, MPs from Northeast R. Kalita, Vincent H. Pala and P.D. Rai, office bearers of various State organizations, Union Secretary DoNER Naveen Verma and Secretary NEC Ram Muivah.