What’s in the news?

• A new scheme, Prime Minister’s Development Initiative for North-East, PM-DevINE was announced by the Union Minister for Finance & Corporate Affairs Nirmala Sitharaman while presenting the Union Budget 2022-23 here today.
• The Finance Minister stated that the PM-DevINE will be implemented through the North-Eastern Council. An initial allocation of Rs. 1,500 crore will be made for the new scheme. 
• It will fund infrastructure, in the spirit of PM GatiShakti, and social development projects based on felt needs of the North-East. This will enable livelihood activities for youth and women, filling the gaps in various sectors. However, it will not be a substitute for existing central or state Schemes. 
• While the central ministries may also pose their candidate projects, priority will be given to those posed by the states.

Reference:

1. https://pib.gov.in/PressReleasePage.aspx?PRID=1794230