Rs 1.55-lakh crore budget is without any financial and tax burden on public
Staff Reporter
GUWAHATI: Assam Finance Minister Ajanta Neog tabled a Rs 620-crore deficit budget free from any additional financial and tax burden on the people of the state for the financial year 2025-26. The estimated outlay of the budget is Rs 1,55,985 crore.
Laying the budget in the House today, Neog said, "This is a people-centric welfare budget designed to provide security and safeguards for every citizen while upholding a strong fiscal responsibility to secure resources for future generations. With a carefully planned and responsible approach, every rupee will be strategically invested in productive sectors and infrastructure, further strengthening Assam's investment climate, job creation, and internal resource generation."
Neog said, "This budget is a decisive step toward strengthening the foundation of progress, deepening reforms, and expanding opportunities while safeguarding Assam's unique identity, heritage, and culture. With this budget, we're deepening reforms, fortifying progress, and accelerating Assam's journey toward becoming one of India's top five states."
She said on capital and budgetary expenditures, "As a result of our persistent hard work, the size of Assam's budget and utilization has consistently increased. The increase of budgetary expenditure by 250 percent in less than ten years is perhaps one of its kind in our national fiscal history. Our capital expenditure jumped to Rs 25,000 crore in 2024-25 from Rs 2,951 crore in 2015-16."
Regarding the debt and GSDP ratio, the Finance Minister said, "We're among the lowest-ranked states in India in terms of debt-GSDP ratio. Across the country, 18 states had higher debt-GSDP ratios than Assam in the financial year 2023-24. Our present ratio is 24.3 percent. Our borrowed funds are dedicated to capital expenditure rather than to the payment of salaries and other revenue expenditure. Assam's economic growth has scaled a new height. In 2024-25, the state's GDP growth is 13 percent compared to 10 percent of the nation."
On the state's own revenue, she said, "Our own revenue collection has grown from Rs 20,033 crore in 2020-21 to Rs 32,886 crore as of February 2025, reflecting a robust 64.2 percent collection. Due to various tax reforms undertaken by the state government, we've reached a stage whereby salaries can be paid through our own resources. This is unprecedented and historical in the context of Assam."
Also read: Assam Budget 2025-26 to be Tabled Today by Finance Minister Neog
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