GUWAHATI: Assam's Finance Minister Ajanta Neog announced on Wednesday that the state government is targeting a 90% utilization of budget estimates for the 2025-26 financial year.
During a discussion in the Assam Assembly regarding the upcoming budget, Neog emphasized the government's commitment to adhering to Reserve Bank of India (RBI) regulations while managing the state's fiscal health, including maintaining a sustainable debt-to-GDP ratio.
In her address, Neog noted that the current fiscal year is projected to achieve an 85% utilization of the total budget estimates, which amount to Rs 1,43,891 crore. The budget presented earlier this week outlined a consolidated fund receipt of Rs 1,55,428.75 crore for the next fiscal year.
Responding to concerns raised by Independent MLA Akhil Gogoi about state debts, Neog reassured the assembly that the government is operating within RBI limits, with the debt-to-GSDP ratio standing at 24.3% for 2023-24.
The budget, which is the last full budget of the second BJP-led government in Assam before the state elections scheduled for March-April next year, includes various cash incentives aimed at supporting youth and tea garden workers. Significantly, it has suggested a one-time cash grant of Rs 5,000 to around 6.8 lakh tea garden laborers and gives an extension of two more years to the tax holiday for green tea leaves. The budget also has no new taxes for the general public while giving further relief to almost 1.5 lakh salaried individuals.
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