Economics • Indian EconomyMedium
What is the strategic significance of the North Eastern Council (NEC) in formulating and executing regional economic planning across states including Arunachal Pradesh?
A. It acts as a regional planning body to finance inter-state infrastructural projects and balanced socio-economic growth✓ Correct Answer
B. It functions as the central monetary authority issuing legal tender currency
C. It serves as a judicial tribunal for resolving international border disputes
D. It operates as a private stock exchange for trading regional commodities
💡 Solution & Explanation
The North Eastern Council, established under an Act of Parliament in 1971, serves as the regional planning and advisory body for northeastern states, funding critical inter-state infrastructure projects in transport, power, communication, and social sectors that transcend individual state boundaries. It coordinates joint developmental strategies to overcome regional isolation. Funding is channeled through central budgetary allocations specifically earmarked for the region. Collaborative planning through the council accelerates infrastructure convergence.
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