Union Budget Paves Way for Accelerated Growth in Northeast, says Sarbananda Sonowal

New Delhi: The Union Budget has placed strong impetus to realise the huge potential of India’s shipping sector. The forward-looking document aims at further enabling India’s shipbuilding industry with spurring and innovative initiatives to drive investment, generate income for the economy, train and employ human capital and create value for the future of the country.

Speaking on the positive impact of budget for the Northeast, Sarbananda Sonowal said, “The Union Budget 2025-26 paves the way for accelerated growth in the Northeast by enhancing connectivity, boosting trade through inland waterways, and strengthening social welfare initiatives, ensuring inclusive and sustainable development across the region. The extension of the Tonnage Tax Scheme to inland vessels is a game-changer for Assam’s economy. By making cargo movement on National Waterway 2 more financially viable, this initiative will unlock new trade opportunities, attract investment in inland shipping, and strengthen Assam’s position as a logistics hub for the Northeast. This will not only reduce transportation costs but also create jobs and accelerate economic growth in the region. The Budget 2025-26 emphasises healthcare in the Northeast by strengthening medical infrastructure, expanding access to healthcare services, and enhancing specialised facilities in remote areas. In education, the budget focuses on improving digital learning, establishing new institutions, and expanding skill development programmes to equip the region’s youth for future opportunities.”

Adding further on Inland waterways sector, Sarbananda Sonowal said, “The extension of the Tonnage Tax Scheme to inland vessels marks a significant milestone for Assam’s economic landscape as well as for the Northeast region. By enhancing the financial viability of cargo transport along National Waterway 2 (NW2), the initiative is set to drive new trade prospects, attract investment in inland shipping, and solidify Assam’s role as a key logistics gateway for the Northeast. Lower transportation costs, coupled with increased employment opportunities, will contribute to the region’s overall economic expansion. Furthermore, a strong emphasis on workforce training and skill development will equip professionals with expertise in advanced maritime technologies, automation, and sustainable shipbuilding. This holistic approach will not only strengthen the inland waterways sector but also establish it as an efficient alternative to ease congestion in conventional transport networks.”

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