Singh said the announcement of Organic Value Chain Development Scheme, with an allocation of Rs 115 crore, will prove to be a "game-changer" for the entire region.
"Not only will it help boost the enormous unexplored potentials of organic entrepreneurship in the region but will also convert the entire region into a favourite destination for new start-ups from across the country to come to the Northeast," he said in a statement.
Singh said the budgetary allocation for the Ministry of DoNER has been increased from Rs 2,334.50 crore last year to Rs 2,400 crore this year.
Provisions have been made for connectivity in Northeastern region, skill development and organic value chain development among others, he said.
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The minister said a budget of Rs 33,097.02 crore has been allocated for the Northeast across 56 ministries, which is 14 per cent higher than the budget estimate of Rs 29,087.93 crore for the previous year.
The budget allocation for North Eastern Council schemes has been increased from Rs 700 crore to Rs 795 crore this year, he said.
The minister also said Rs 150 crore has been provided for the newly launched NE Road Sector Development Scheme which will be helpful in the development of inter-state roads.
In addition, he said, Asian Development Bank (ADB) will spare funds for construction and maintenance of roads in the region.
"The budget allocation for Northeast this year is not only substantial but also very imaginative and hoped that the state governments will respond in similar vein by offering cooperation through timely submission of DPRs (Detailed Project Reports), utilisation certificates and states sharing of 10 per cent of funds etc," he said.