Presenting the Union Budget in the Lok Sabha, Union Finance Minister Nirmala Sitharaman on Tuesday, 1 February, announced the launch of the PM Development Initiative for North East (PM-Dev-INE)– a scheme to promote the growth of the region.
Sitharaman stated in her Budget speech that a total of Rs 1,500 crore would be allocated to the new scheme.
The finance minister announced that the new scheme would cover all the villages along the northern border of India to enhance development.
The new scheme is slated to fund infrastructure and social development projects based on the needs of the Northeast region.
As per the Ministry of Development of North East Region, the scheme aligns with the vision of PM GatiShakti and aims to enable livelihood activities for youth and women, filling the gaps in various sectors.
However, the PM-DevINE scheme will not be a substitute for existing central or state schemes.
A 'People-friendly Budget': PM Modi
Sitharaman had presented the Union Budget 2022 in the the Lok Sabha earlier on Tuesday.
Prime Minister Narendra Modi has called the Budget "people-friendly and progressive," and has said that it has brought new hopes and opportunities for the common people.
While the Centre has applauded the Budget, the Opposition has criticised it saying that it does not bring the expected relief to the poor and the salaried classes.