CNTC asks state govt to implement SARFAESI Act

DIMAPUR, APR 12 (NPN) | Publish Date: 4/12/2021 12:41:43 PM IST

Central Nagaland Tribes Council (CNTC) has asked the State government to implement the SARFAESI Act, 2002 in the interest of educated Naga unemployed youth. 

In a statement, CNTC pointed out that many young talented Naga youth were forced to go outside Nagaland for jobs to earn their livelihood. CNTC said most of them want to start their projects and work in their home state. However, CNTC said owing to lack of financial resources, the youth had no option but go out of the state for survival. 

CNTC pointed out that implementation of the Act would help thousands of Naga youth to earn their livelihood at home instead of having to go out and face untold miseries and hardships in the past, in many cities of the mainland. 

Many youth wanted to start small businesses here in their home State but, without the banks assisting them financially, it became impossible for them to start all by themselves, the council contended. Hence, CNTC urged the State government to work out some modalities along with all stakeholders like local entrepreneurs, contractors, banks and financial institutions to implement the Act in tandem with other special laws granted to Nagaland like Article 371(A), Land and Revenue Regulations Amendment Act, 2002 so that, in case of local entrepreneurs defaulting bank loans, the mortgaged lands could be auctioned to local Nagas only so that special provisions are not infringed. 

Expressing pain at so many local youth, either leaving their homes in search of greener pastures and others falling into anti-social acts for lack of other financial resources, CNTC said implementation of the SARFAESI Act would empower thousands of “our” youth and generate employment, thus bringing prosperity to the State.

Further, it maintained that the COVID-19 pandemic had “taught us many valuable lessons” from which to learn and change “our way of thinking and living”. CNTC said “ we need to tap our human resources at the maximum potential to strengthen our economy and make our land prosperous.”


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