Northeast Business Leaders Applaud Union Budget 2026-27's Regional Development Push
Prominent traders' associations across Northeast India have expressed strong support for the Union Budget 2026-27, highlighting its comprehensive focus on tourism enhancement, sustainable transportation, and accelerated development initiatives specifically tailored for the region. The budget's strategic proposals include a novel scheme to develop Buddhist pilgrimage circuits spanning six northeastern states, a planned high-speed rail connection between Siliguri and Varanasi, and the widespread deployment of electric buses to promote eco-friendly mobility.
Industry Voices Highlight Socio-Economic Benefits
Mahesh Saharia, Chairman of the North East India Regional Council of ICC, emphasized that the budget establishes a robust framework for socio-economic advancement. "The fiscal year 2026-2027 budget presents a sound proposition to drive greater progress in the Northeast through increased government capital investment," Saharia stated. He noted that the measures aim to stimulate tourism, enhance commerce and trade through improved connectivity, boost agriculture and food production via various reforms, and provide sustained assistance to MSMEs throughout the area.
Saharia elaborated on the Buddhist circuit initiative, which encompasses conserving monasteries and heritage structures, establishing pilgrimage interpretation centers, improving pilgrim amenities, and strengthening access infrastructure. He emphasized that these steps would support year-round tourism while preserving the rich Buddhist heritage of the region.
Infrastructure and Sustainability Initiatives Gain Praise
The proposed Siliguri-Varanasi high-speed rail link and the plan to deploy a significant fleet of electric buses in the Northeast received particular commendation. Saharia remarked that these initiatives would strengthen public transport systems, improve last-mile connectivity, and support environmentally sustainable mobility for both residents and tourists. He further endorsed the budget's focus on industrial and rural growth under the Purvodaya initiative, which includes targeted interventions and special packages for Autonomous Councils, along with support for agriculture-based initiatives and rural value chains.
Sarat Kumar Jain, Chairman of the Assam and Meghalaya State Committee of ICC, underscored the budget's importance for the North Eastern Region, particularly its emphasis on tourism, infrastructure, healthcare, education, skilling, exports, and technology-led growth. Jain also welcomed the decision to upgrade the national mental health institute in Tezpur into a regional apex center, highlighting its potential impact on healthcare services in the area.
FINER Hails Balanced and Growth-Oriented Approach
The Federation of Industry and Commerce of North Eastern Region (FINER) described the budget as balanced and growth-oriented, noting that it supports industry while maintaining fiscal discipline. In an official statement, FINER expressed that measures to strengthen tourism, urban infrastructure, high-speed rail corridors, and education-to-employment linkages are expected to foster balanced regional development.
"Overall, FINER believes that the Union Budget 2026-27 provides a positive and enabling policy environment for industries across sectors and regions, including the Northeast, and will contribute significantly to inclusive and sustainable economic growth," the organization added.
From a macroeconomic perspective, FINER welcomed the government's commitment to fiscal consolidation, a declining debt-to-GDP ratio, and improved compliance through the rationalization of TCS rates, extension of timelines for income tax return revisions, and other tax reforms.
