FM Sitharaman highlights need for investment, funding in Nagaland

Nagaland is in need of investment, CSR funds and medical equipment, Finance Minister Nirmala Sitharaman has said.

Addressing a bankers' conclave and credit outreach programme in Kohima, the Finance Minister also highlighted the need to ensure access to banks across the state via RRBs, PSBs and private sector banks.

Tax devolution to Nagaland has increased to Rs 13,782 crore under the NDA government, she added, as compared to Rs 3,844 crore under the previous UPA regime.

Grants for Nagaland in 2022-2023 were at Rs 4,773 crore.

The Central government has so far released Rs 245 crore for Kohima, the lone city from Nagaland selected for Smart Cities Mission (SCM).

Sitharaman also asked banks to conduct loan outreach programmes in Nagaland.

In the three-day conclave, Sitharaman also highlighted the important role played by 'Bank Mitras' in a state like Nagaland where even a block headquarter becomes difficult for villagers to reach, and expressed her happiness that the Bank Mitras are serving the purpose well in the state.

The Finance Minister commended Nagaland for performing well in schemes like Atal Pension Yojana, MUDRA and Standup India.

Sitharaman set a target of outreach programme to commence by September 1 and to conclude by November 30 covering all eligible beneficiaries to avail the benefits from the credit schemes.

Thanking Sitharaman for initiating and getting the credit outreach programme organised, and for setting into motion a bouquet of initiatives which will move Nagaland towards 100 per cent financial inclusion, Chief Minister Neiphiu Rio said that through this credit outreach, the banks will be extending credit of Rs 223 crore under various schemes as well as retail loans to the people of Nagaland.