Begin typing your search above and press return to search.

Rs 566-cr deficit budget sans new taxes: Finance Minister Ajanta Neog

Without levying any extra tax on the public, Finance Minister Ajanta Neog tabled Rs 566.20-crore deficit Budget for fiscal 2021-22 in the State Assembly on Friday.

Ajanta Neog

Sentinel Digital Desk

STAFF REPORTER

GUWAHATI: Without levying any extra tax on the public, Finance Minister Ajanta Neog tabled Rs 566.20-crore deficit Budget for fiscal 2021-22 in the State Assembly on Friday.

"With profound respects for the people of Assam, I have humbly put my effort to prepare this year's Budget, not as a reflection of annual earnings and expenditures – but as a stepping stone and a vision document for our next five-year journey. After a year, we will look back to see how long we have traversed. If we assess that more speed is needed, we will not pause. We will firmly accelerate our pace to reach the cherished goal."

The 2021-22 Budget proposals have no new tax imposed on the public. The Budget has already announced or implemented schemes.

"The COVID pandemic has hugely impacted the State economy since 2020. The life of the common man has been severely affected in all spheres beyond imagination. Still, our government has embarked upon the path of development in such a difficult period with the blessings of people from all walks of life."

She said that she had to interact with all sections of people and take their suggestions. She also said that she tried her best to reflect those suggestions into the Budget.

On the COVID-19, she said the Government is very vigilant and sensitive on the pandemic. "The government is ready to do all that the COVID situation demands," she said. She further said that fund management for the war against the Covid-19 is the chief priority of the Government, and it will keep it up in the future also. "I declare firmly that the government will steadfastly strive to contain Covid and continue the momentum of development side by side," she said.

According to her, the government in the last tenure tried its best to bring the administration closer to the people. It took up numerous schemes to that effect that have succeeded to reach all sections of people. "The objectives of the schemes were to ensure social justice and equity for the people apart from strengthening the base of development and growth," she said.

"Under the dynamic leadership of the Chief Minister the government has taken firm steps to tackle the second and the third waves of the Covid pandemic. The government has decided to sincerely implement all the pledges related to the economy given in the election manifesto. Prime Minister Narendra Modi has been extending all help and assistance to the State government. We are also committed to strengthening our fiscal efficiency and economic security by adhering to all existing financial rules," she said.

The Budget estimates of 2021-22 show a receipt of Rs 107317.54 crore under the consolidated fund of the State. The estimated transactions during the year will result in an estimated surplus of Rs 403.58 crore. This, together with the opening deficit of Rs 969.78 crore, will lead to a Budget deficit of Rs 566.20 crore at the end of the year 2021-22.

She highlighted various measures taken by the Government in the past five years for commercial tax reforms. Some of them are tax holidays to tea industries, State GST reimbursement under the Industrial Policy of Assam, liquidation schemes for the payment of arrears dues, GSP waiver and lowering tax rates on Covid items, deemed registration/enrollment facility for professional tax etc.

She said that the government would also grant food exemptions from the payment of agriculture income tax with effect from April 1, 2020, for three years.

She said that the total requirement for the waiver/relief of microfinance loans is around Rs 12,000 crore. Once the lending institutions extend benefits to the borrowers under the Fair Practice Court, the requirement of funds will come down from Rs 12,000 crore to about Rs 7,500 crore. "I'm earmarking the sum accordingly," she said and added that the committee concerned has already categorized the borrowers for the loan waiver.

"Our government has taken firm measures against the illegal transportation of coal. We have framed standard operating procedures against such illegal activities and incidents of tax evasion," she said.

BUDGET PROPOSALS

(i) Increase the number of medical colleges in the State to twenty.

(ii) Set up a cooperative departmental store in Janata Bhawan that will help employees buy their households goods at affordable prices.

(iii) Build 50 new border outposts along the inter-state boundaries.

(iv) Raising the third battalion of Assam Forest Protection for the protection of forest located along the inter-State border areas.

(v) Establish a critical care unit of animals in five districts of the State having ultrasound facilities and also set up ten animal ambulatory clinics.

(vii) Set up border haats along Bangladesh border in Karimganj and Dhubri districts.

(viii) A new zoo each at Dibrugarh and Silchar.

(ix) To develop open areas in towns by constructing parks, sidewalks, yuga corners etc.

(x) Setting up 10 battalions on the line of SGP, NSG, CRPF, Cobra, etc, at as many locations in the State in phases.

(xi) Providing smartphones to students of class IX and X in government schools.

(xii) Conversion of 1,000 health sub-centres into hospitals.

(xiii) Special assistance up to the maximum amount of Rs 10,000 each to small traders and artisans.

(xiv) Strengthening and converting 1,000-km embankment into road-cum-embankment in the current years.

BUDGET SIZES OF TOP

15 DEPARTMENTS

(1) Finance Department – Rs 18,037 crore

(2) Education (Elementary) – Rs 9,389 crore

(3) PWD (Roads) – Rs 8,583 crore

(4) P&RD – Rs 8,023 crore

(5) Pension and Public Grievances – Rs 7,662 crore

(6) Health and Family Welfare – Rs 7,662 crore

(7) Education (Secondary) – Rs 5,659 crore

(8) Power Department – Rs 4,994 crore

(9) WPT & BC – Rs 4,197 crore

(10) Revenue and Disaster Management –

Rs 2,809 crore

(11) Education (Higher) – Rs 2,612 crore

(12) Agriculture – Rs 2,340 crore

(13) Hills Area Development – Rs 2,340 crore

(14) Social Welfare – Rs 2,011 crore

(15) Home Department – Rs 5,659 crore

Where rupee comes from

 Total receipts – Rs 1,07,317 crore

(a) State tax revenue – Rs 21177.55 crore

(b) Centrally-sponsored schemes – Rs 26013.09

crore

(c) Share of central tax – Rs 20818.82 crore

(d) Non-tax revenue – Rs 6097.60 crore

(e) Finance Commission's grants – Rs 11508.65 crore

(f) Public debt – Rs 18325.53 crore

(g) Other transfer/grants – Rs 3363.70 crore

(h) Recoveries of loans in advance – Rs 12.61 crore

Where rupee goes to

 Total expenditure – Rs 1,07,556 crore

(a) General services – Rs 29,187 crore

(b) Social services – Rs 38,466 crore

(c) Economic services – Rs 15,958 crore

(d) Public debt – Rs 3,536 crore

(e) Capital account of general services – Rs 1,137 crore

(f) Capital account of social services – Rs 3,206 crore

(g) Capital account of economic services – Rs 15,148 crore

(h) Grants-in-aid – Rs 795 crore

(i) Loans and advance – Rs 124 crore

Also Read: Assam Assembly Budget Session 2021-22 Update: Key Highlights & Takeaways

Also Watch:


Next Story