Guwahati, Feb 1 (NationPress) The FICCI Northeast Advisory Council has expressed its approval of the Union Budget 2026-27, asserting that it lays out a comprehensive and forward-thinking strategy for economic advancement and job creation. This approach emphasizes priority regions, manufacturing, infrastructure, tourism, sustainability, and reforms, aligning with the vision of Sabka Saath, Sabka Vikas.

In response to the Budget, Ranjit Barthakur, Chairman of the FICCI Northeast Advisory Council, noted that it demonstrates faith in India's economic fundamentals and responds to emerging global and geopolitical challenges through a balanced policy framework.

He emphasized that the ongoing focus on public capital expenditure, manufacturing, MSMEs, and infrastructure lays a robust foundation for enduring long-term growth and job creation.

Barthakur underscored the significance of investing in human capital, stating that the emphasis on education, healthcare, and skill development is vital for achieving inclusive growth, particularly in regions like the Northeast.

He also applauded the focus on inland waterways and multimodal logistics, asserting that enhanced riverine connectivity—especially in Assam—would lower logistics costs, enhance market access, and unlock regional economic potential.

In addition, Barthakur welcomed the Budget's sustainability initiatives, stating that proposals like the large-scale implementation of Carbon Capture, Utilisation and Storage (CCUS) reflect a strong commitment to environmentally responsible growth as India boosts its industrial capacity.

Ghanshyam Dhanuka, Chairman of FICCI Assam state council, remarked that the Budget contains various initiatives directly relevant to Assam while addressing significant national priorities.

Dhanuka particularly praised the proposed development of Buddhist circuits across Arunachal Pradesh, Assam, Manipur, Mizoram, Sikkim, and Tripura, asserting that this initiative will enhance tourism infrastructure, preserve cultural heritage, and create local employment.

He also commended reforms aimed at improving the ease of doing business, including tax rationalization, reduced litigation, and increased policy certainty, which he believes will bolster investor confidence and support enterprise-led growth in Assam.

Joydeep Gupta, Co-Chairman of FICCI Assam state council, welcomed the Budget's focus on digital and technology-driven growth with a regional emphasis.

He noted that initiatives like tax holidays for cloud services, enhanced safe harbor thresholds, and automated approvals would position India as a global data and cloud hub, creating new opportunities for Assam and the Northeast beyond metropolitan areas.

Gupta also highlighted regional initiatives such as promoting agarwood (oudh) as a high-value forest and aromatic product, which he stated would enhance rural livelihoods, exports, and agro-forestry enterprises.

Additionally, he welcomed measures to strengthen mental healthcare infrastructure, including the integration of institutions like the Tezpur Mental Hospital with national systems, positioning Assam as a regional hub for specialized mental health services.

Larsing Sawyan, Co-Chairman of FICCI Northeast state council, noted that the Budget's focus on tourism, sports, skill development, and agriculture would significantly affect grassroots communities.

He added that initiatives such as tourism infrastructure development, the Khelo India Mission, support for high-value agriculture, MSME-focused measures, and sustainable infrastructure development would collectively foster long-term growth and job creation across the Northeast.

In summary, FICCI stated that the Union Budget 2026-27 effectively integrates technology, sustainability, regional strengths, and structural reforms to encourage inclusive and resilient economic growth, facilitating the Northeast's closer integration with India’s growth trajectory.