Assam CM Himanta Biswa Sarma, finance minister Ajanta Neog and others before the budget presentation

Assam finance minister Ajanta Neog presented the annual state budget for the financial year 2024-25 worth ₹2.9 lakh crore in the Assam Legislative Assembly on February 12. Neog unveiled a ₹774.47 crore deficit state budget for 2024-25, detailing the financial breakdown during her presentation.

“The budget estimates of 2024-25 show a receipt of ₹1,43,605.56 crore under the consolidated fund of the state. Out of this, ₹1,11,943.84 crore is in the revenue account, and the remaining ₹31,661.73 crore is under the capital account,” stated Neog.

“After adding the receipts of ₹1,44,550.08 crore under the public account and ₹2,000.00 crore under the contingency fund, the aggregate receipts amount to ₹2,90,155.65 crore,” she added. “As against this, total expenditure from the consolidated fund of the state in 2024-25 is estimated at ₹1,43,890.62 crore of which ₹1,10,091.86 crore is in the revenue account and ₹33,798.76 crore is in the capital account.”

“Taking into account the expenditure of ₹1,42,670.09 crore under the public account and ₹2,000.00 crore under the contingency fund, the aggregate expenditure for the year is estimated at ₹2,88,560.71 crore,” Ajanta Neog elaborated. “Thus, estimated transactions during the year will result in an estimated surplus of ₹1,594.94 crore. This, together with the opening deficit of ₹2,369.41 crore, will lead to a budget deficit of ₹774.47 crore at the end of the financial year 2024-25.”

In her fourth budget speech, Neog outlined various initiatives and allocations, including plans for a Global Investors’ Summit, reservations in Assam Police for eligible Agniveers, support for dairy farmers and small tea growers, and funding for startup ventures. Additionally, she highlighted investments in wildlife conservation, educational projects, and infrastructure development across the state.

Neog also announced schemes aimed at supporting women entrepreneurs, promoting education for girls, and facilitating pilgrimage to Ram Mandir at Ayodhya. The budget prioritizes job creation, cultural preservation, and the socio-economic development of marginalized communities.

The finance minister emphasized the government’s commitment to inclusive growth and sustainable development, with a focus on improving livelihoods, enhancing infrastructure, and fostering a conducive environment for investment and entrepreneurship in Assam.

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