hello
Economic Development of the North East: Some Reflections
Ladies and Gentlemen,
It is a matter of great pleasure to be here with you to deliver the keynote address on this occasion of the 8th anniversary of North Eastern Development
Finance Corporation (NEDFi). As a central banker, the NEDFi is close to my heart. Indeed, as a financial institution the NEDFi is unique, given the challenging domain of the North Eastern Region (NER) that it endeavours to promote. In my earlier role as an industry and infrastructure economist, I have often contemplated on the special challenges of this Region. Like many of you I have often wondered why the growth and development performance of this richly endowed Region has been well below its potential; indeed disappointing in many ways. While the reasons could be many - some of which we are going to discuss today, I am a firm believer in what Robert Frost once said, "The only way around is through!" I am truly delighted therefore, to have this opportunity to join you in collective introspection and to do some loud thinking on the future course of action.
To begin with, I propose to highlight the role of the NEDFi in the development of the Region. I shall then review the major policy initiatives by the
Government - both Central and States.
Against that backdrop, I would then
proceed to take a stock of things in respect of economic growth and development of the Region.
My endeavour would be to present a framework for SWOT
analysis - assessing strengths, weaknesses, opportunities and threats or challenges.
In this regard, I would like to give special attention to the issues relating to infrastructure, which in my view, are the key to growth and development of the
Region. I shall conclude by highlighting key areas for policy action in the near future. 1
Let me start with the NEDFi itself and the role it has been playing in promoting growth and development of the Region.
2
I.
The Role
Ladies and Gentlemen,
It is a matter of great pleasure to be here with you to deliver the keynote address on this occasion of the 8th anniversary of North Eastern Development
Finance Corporation (NEDFi). As a central banker, the NEDFi is close to my heart. Indeed, as a financial institution the NEDFi is unique, given the challenging domain of the North Eastern Region (NER) that it endeavours to promote. In my earlier role as an industry and infrastructure economist, I have often contemplated on the special challenges of this Region. Like many of you I have often wondered why the growth and development performance of this richly endowed Region has been well below its potential; indeed disappointing in many ways. While the reasons could be many - some of which we are going to discuss today, I am a firm believer in what Robert Frost once said, "The only way around is through!" I am truly delighted therefore, to have this opportunity to join you in collective introspection and to do some loud thinking on the future course of action.
To begin with, I propose to highlight the role of the NEDFi in the development of the Region. I shall then review the major policy initiatives by the
Government - both Central and States.
Against that backdrop, I would then
proceed to take a stock of things in respect of economic growth and development of the Region.
My endeavour would be to present a framework for SWOT
analysis - assessing strengths, weaknesses, opportunities and threats or challenges.
In this regard, I would like to give special attention to the issues relating to infrastructure, which in my view, are the key to growth and development of the
Region. I shall conclude by highlighting key areas for policy action in the near future. 1
Let me start with the NEDFi itself and the role it has been playing in promoting growth and development of the Region.
2
I.
The Role