Guwahati: In a significant development, Assam Finance Minister Ajanta Neog presented the Budget 2024-25 in the Assam Assembly today, outlining a roadmap for sustainable growth and the creation of employment opportunities.
The budget, aligned with Prime Minister Narendra Modi’s vision for a developed India, aims to propel Assam into the top five states in the country. Several exceptional takeaways from the budget include:
Focus on Sustainable Growth and Employment:
The budget provides a realistic roadmap for sustainable growth, focusing on creating employment opportunities. Assam’s economic growth has consistently exceeded the national GDP growth rate, and the per capita income has more than doubled since the Double Engine Government came to power in 2016.
Capital Expenditure and Infrastructure Development:
Assam has taken Capital Expenditure to a new historical level, with an estimated figure of Rs 20,000 crore in 2024-25, compared to Rs 16,000 crore in 2022-23. The state has successfully dovetailed all schemes and programs, including Special Assistance to States for Capital Investment, to enhance the pace of Capex in various segments, such as Connectivity, Tourism, and Education.
Support for Entrepreneurship and Women’s Empowerment:
The budget emphasises creating employment opportunities, focusing on strengthening entrepreneurship in the state. Additional support in the form of subsidies and grants will be provided to SHG members for taking up income-generating activities. The government will be supporting women’s empowerment by expanding the coverage of Orunodoi to 30 lakh beneficiaries, providing more relief to microcredit borrowers, and financially supporting Nijut Moina and 39 lakh women entrepreneurs.
Infrastructure Development and Green Growth:
The budget gives a big push to infrastructure development with the launch of Asom Mala 2.0 and the undertaking of several iconic projects. This will have multiplier effects, benefiting the citizens of the state. Green Growth is also a key pillar of the budget, with plans to plant three crore saplings, introduce electric buses, and set up over 1000 MW of renewable energy plants and roof-top solar plants.
Welfare of the Tea Garden Community:
The budget places a special emphasis on the well-being of the tea garden community, with increased investment in schools, 3% reservation in government jobs, and payment of their arrear electricity dues.
Cultural Heritage and Identity:
Celebrating Assam’s rich cultural heritage is an underlying theme in the budget. Key initiatives include the construction of the Maa Kamakhya Corridor, preserving land in and around Satras, taking pilgrimage to Ram Mandir in Ayodhya, and incentivising Bhaona and Raas Lila.
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Overall, the Assam Budget 2024-25 presents a comprehensive plan for sustainable growth and job creation, aligned with the Prime Minister’s vision of developing India. The budget has made key investments in key sectors, such as employment opportunities, green growth, and development of the tea garden sector, and is expected to have a positive impact on the state’s growth and development.
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