Centre approves 30% funds for NEC projects

Centre approves 30% funds for NEC projects

With focuseddevelopment for deprived areas and neglected sections of society, the Union Cabinetchaired by Prime Minister Narendra Modi approved allocation of 30 percent fundsof the North Eastern Council (NEC) for new projects on Wednesday.

The allocationof 30 percent of NEC funds will be for new projects under the existing 'Schemesof North Eastern Council'. The decision was taken to allocate 30 percent of NECfunds for focused development of deprived areas; deprived or neglected sectionsof society and emerging priority sectors in the northeastern states.

As per a government statement, balance allocation shall be bifurcated in the existing two components; State component of 60 percent and Central component of 40 percent. Meanwhile, there will be a revision of the NEC guidelines for the simplification of the appraisal and approval mechanism.

Governmentsources informed that the Centre approved allocation of 30 percent funds of theNEC for faster decision-making and quick implementation of projects.

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