Budget 2023: 113% increase in allotment for northeast, highest ever

In line with Prime Minister Narendra Modi's vision of developing the Northeast as a development gateway with Southeast Asian countries, the Ministry of Development of North Eastern saw the highest increase in the budgetary allocation this year. 

The Finance Ministry has budgeted Rs 5,892 crore for FY24 for the region, which is 113 per cent more than the RE 2022-23. 

Of the budgeted amount, Rs 4,093 crore is to be spent on capital expenditure, more than five times the money spent on capital expenditure in FY23. On the other hand, the Ministry of Civil Aviation saw the highest decline in budget allocation to Rs 3,113.36 crore from Rs 9,363.7 crore in FY23. 

 

The reduction is mainly due to lower money allocation for AI Asset Holding Ltd (AIAHL), a special purpose vehicle formed by the government and that holds various assets of national carrier Air India.