Budget Highlights

Budget Highlights:

  • The Gross State Domestic Product (GSDP) of Assam for 2024-25 (at current prices) is projected to be Rs 6,43,089 crore, amounting to growth of 13% over 2023-24.
  • Expenditure (excluding debt repayment) in 2024-25 is estimated to be Rs 1,36,699 crore, a decrease of 9% from the revised estimates of 2023-24. In addition, debt of Rs 7,192 crore will be repaid by the state.
  • Receipts (excluding borrowings) for 2024-25 are estimated to be Rs 1,14,165 crore, a decrease of 5% as compared to the revised estimate of 2023-24.
  • Revenue surplus in 2024-25 is estimated to be 0.3% of GSDP (Rs 1,852 crore), as compared to a revenue deficit of 0.2% of GSDP (Rs 1,396 crore) at the revised estimate stage in 2023-24. Assam had budgeted a revenue surplus of 0.5% of GSDP in 2023-24.
  • Fiscal deficit for 2024-25 is targeted at 3.5% of GSDP (Rs 22,534 crore). In 2023-24, as per the revised estimates, the fiscal deficit is expected to be 5.2% of GSDP, higher than the budgeted 3.7% of GSDP.

Policy Highlights:

  • Mukhya Mantri Nijut Moina: One-time incentives of Rs 10,000, Rs 12,500, and Rs 15,000 will be paid to 10 lakh girl students for joining class 11, graduation (first year), and post-graduation (first year), respectively. This will be available for students taking admission in government colleges and institutions.
  • Mukhya Mantri Mahila Udyamita Abhiyaan: A minimum amount of Rs 47,500 will be provided to each woman member of self-help groups in rural and urban areas. This will be provided by a combination of grant, subsidy, and loan.
  • Mukhya Mantri Awaas Yojana (Gramin): Under the scheme, 13,000 houses each will be allocated to eligible beneficiaries from tea garden communities and poorest of poor beneficiaries who were not included under the socio-economic caste census.
  • Rooftop solar: All new private and public buildings constructed in Assam will have to mandatorily install rooftop solar facilities.
  • Farm mechanization: The state government will distribute power tillers, tractors, threshers, and other farm equipment to support agricultural activities.