Shillong, July 11: Union Finance and Corporate Affairs Minister Nirmala Sitharaman today said that with digitised records, individuals can approach banks for loans or use their land as an asset.

She highlighted the extensive support extended to Meghalaya over the past decade, especially through the Special Assistance to States for Capital Investment (SASCI) scheme. The programme, launched in the aftermath of the COVID-19 pandemic, aims to spur infrastructure growth and economic recovery across India through long-term, interest-free capital loans to states. So far, ₹5.3 lakh crore has been disbursed under SASCI, of which ₹48,804 crore was allocated to the North Eastern region, including ₹5,471 crore for Meghalaya.

“In many rural and tribal areas, people didn’t have legal documents for the land they lived on. Now, with digitised records, they can approach banks for loans or use their land as an asset,” the Minister explained.

Detailing the scale of financial support, the Minister noted that tax devolution to Meghalaya from 2014 to 2024 stood at ₹48,883 crore, reflecting a significant increase from ₹7,273 crore during 2004 to 2014. Similarly, grants-in-aid also rose from ₹19,700 crore in the previous decade to ₹40,452 crore in the last ten years. She said these resources have been instrumental in driving improvements in infrastructure, education, healthcare, and rural development across the state.

Sitharaman also discussed key national outcomes supported through SASCI funding. She noted the adoption of digitised public finance systems by all states through the SNA-SPARSH framework, improving fund utilisation and transparency. Several states have restructured land use in industrial zones, built hostels to support migrant workers and women professionals, and scrapped outdated government vehicles to modernise public fleets and reduce emissions. Land records and maps have also been extensively digitised, enhancing legal clarity, boosting rural credit access, and reducing disputes.

She further spoke about the progress made through the Farmer Producer Organisations (FPOs) initiative, which promotes agricultural entrepreneurship and value addition. In Meghalaya, 67 FPOs have been established, producing banana and jackfruit chips, bay leaves, turmeric, and other spices. Of these, 44 are now connected to the Open Network for Digital Commerce (ONDC), allowing local producers to market their goods across the country.

On the employment front, the Minister highlighted the National Internship Programme, which in its pilot phase offered over 1,530 internship opportunities nationwide across sectors such as administration, tourism, education, and technology. The programme has now expanded, with 3,671 internships designated for the North Eastern Region, including 114 in Meghalaya. It has attracted diverse participants—from engineering and agriculture graduates to women entrepreneurs and rural youth.

She also emphasised the Centre’s efforts to support states in accessing international development finance. Through collaborations with the World Bank, Asian Development Bank, and similar institutions, the Central Government is helping states with limited technical capacity to implement large-scale infrastructure and development projects.

“We are ensuring that every state, regardless of capacity, has the tools and support needed for sustainable growth,” Sitharaman stated.

Also Read: Sitharaman urges youths of NE to take advantage of PM Internship Scheme

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