We don t have any economy
Why did the capital investment subsidy fail?
We need policies that cater to the local, small entrepreneur but the capital investment subsidy does not help them at all. These entrepreneurs cannot really afford the term loans, which have interest rates as high as 17-18 per cent. No subsidy has been offered on such loans. The banks are also reluctant to give loans to people who hardly had anything to offer as mortgage.
Industries that could turn the tide are coal, sealed gas, methane, and medicinal and aromatic plants. Horticulture and floriculture should also be tapped. Even though practically every house in Assam has a loom, silk from the northeast hardly contributes Rs 20 crore worth to the export market.
Would opening up the borders with Myanmar or Bangladesh help?
Most definitely! That might spur the development of roads, storage facilities and education. I think the region should emerge as a quality higher-education centre.
What about the dangers of turning the states into highway economies?
Give us any economy. Right now we don't have any economy. At least, this way our infrastructure might improve somewhat.
Can inland waterway systems replace road transport?
Water transport is way cheaper than road transport. We can hope to revive it by opening up our borders. The inland waterways hold a lot of potential in solving the transport issue.
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