Guwahati: Assam Gears Up for Fiscal Year 2024-25 Budget Presentation on Feb 12

GUWAHATI: In the course of the next fiscal year, the Assam government is scheduled to unveil the draft budget for 2024-25 on February 12. This marks the fourth budget presentation under the leadership of Chief Minister Himanta Biswa Sarma. The Budget Session of the state assembly is scheduled to kick off on February 5.

Assam Finance Minister Ajanta Neog, expressing a commitment to fiscal responsibility, has pledged to present a "realistic" budget. Neog emphasized the importance of achieving a 100 percent expenditure, citing previous years where expenditure hovered around 80 percent. In an effort to enhance financial efficiency, the finance minister stated, "We are going to try a new formula that if we place a realistic budget then the expenditure will be more."

Neog outlined the priorities of the proposed budget, which aims to be inclusive across sectors. She emphasized the focus on supporting women and youth, especially the overall objective of increasing public expenditure on infrastructure development.

Last year, NEOG presented a total expenditure budget of about Rs 3.21 lakh crore. It also showed a significant increase in GDP estimates for Assam, which is expected to increase from Rs 3.93 lakh crore in 2021-22 to Rs 5.5 lakh crore in 2023-24 Addressing unemployment problems, Neog unveiled ‘Chief Minister Self-Employment Mission’.

The scheme, with a total investment of Rs 5,000 crore over the next three years, is designed to create opportunities for self-employment. The scheme targets 200,000 unemployed youth from Below Poverty Line (BPL) families and low income households with the objective of turning them into employees.

Assam prepares for the economic challenges that lie ahead, focusing on a practical and comprehensive budget that addresses the needs of the people of the state. The budget, which will be unveiled on February 12, will pave the way for Assam’s finances in the coming year.

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