Assam Cabinet Approves Rs 1.22 Lakh Cr Investment Ahead of Biz Summit

Guwahati, Feb 23 (PTI) The Assam cabinet on Sunday approved investment proposals worth Rs 1.22 lakh crore ahead of the second edition of the state business summit, Chief Minister Himanta Biswa Sarma said.

Addressing a press conference after a Cabinet meeting, Sarma said that it had been decided that all MoUs, which will be signed during the Advantage Assam 2.0 Investment and Infrastructure Summit here, will be "properly scrutinised and then approved" by the council of ministers.

The cabinet, in its meeting chaired by the CM, rejected MoUs worth Rs 45,000 crore as these were found to be on ‘flimsy grounds', he said.

“We don't want to create unnecessary euphoria among people, we want to be reasonable and rational,” he said on the cabinet that had gone through all proposals before approval.

The two-day Advantage Assam 2.0 Investment and Infrastructure Summit will be inaugurated by Prime Minister Narendra Modi on February 25.

Ambassadors and business delegations from several countries along with top industrialists of India are expected to attend the programme.

Along with the investment proposals to be finalised at the summit here, MoUs for investment up to Rs 50 crore will be signed at the district commissioners' (DC) offices during the two days of the mega event.

Altogether, 2,590 such MoUs with investment proposals ranging between Rs 5 lakh to Rs 50 crore have been confirmed to be signed at the districts during the summit, Sarma said.

These MoUs propose a total of Rs 15,911 crore of investment, he added.