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Assam Unveils Ambitious Rs 2.9 Lakh Crore Budget for 2024-2025 Fiscal Year



Guwahati, February 12, 2024


In a significant development, the Assam government has presented a substantial budget of Rs 2.9 lakh crore for the upcoming financial year, 2024-2025. The budget, outlined by Assam Finance Minister Ajanta Neog on Monday, highlights key financial allocations and policy decisions.

The budget carries a deficit of Rs 774.47 crore, demonstrating a balanced approach to fiscal management. Notably, no new taxes have been proposed, providing relief to the taxpayers in the state.

A major focus of the financial statement is on education, as Minister Ajanta Neog announced a groundbreaking initiative to support the education of 10 lakh girls up to post-graduation level. This strategic move aims to combat child marriage and empower young girls through higher education.

Breaking down the budget estimates, Minister Neog detailed the financial inflows. The Consolidated Fund of the state is expected to receive Rs 1,43,605.56 crore, complemented by Rs 1,44,550.08 crore under the Public Account and an additional Rs 2,000 crore under the Contingency Fund. The aggregate receipts total Rs 2,90,155.65 crore.

On the expenditure side, Neog informed that the Consolidated Fund's estimated outlay for 2024-25 is Rs 1,43,890.62 crore. When factoring in Rs 1,42,670.09 crore under the Public Account and Rs 2,000 crore under the Contingency Fund, the total expenditure projection for the year stands at Rs 2,88,560.71 crore.

The financial statement also sheds light on the state's economic growth, with the Gross State Domestic Product (GSDP) expected to reach Rs 6.43 lakh crore in the upcoming financial year, a notable increase from Rs 5.7 lakh crore in 2023-24.

This budget reflects a comprehensive approach, addressing fiscal responsibility, social concerns, and economic development, setting the tone for Assam's financial landscape in the coming year.


Published by She Business Time

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