Assam Finance Minister Ajanta Neog presented Rs 2.9 lakh crore budget for FY25

The Finance Minister of Assam Ajanta Neog presented Rs 2.9 lakh crore budget for Financial Year 2024-25 (FY25) with a deficit of Rs 774.47 crore. The budget proposed no new tax.

• This was his 4th budget under the leadership of Chief Minister (CM) of Assam Dr Himanta Biswa Sarma.

Financial Indicators:

i.It shows a receipt of Rs 1,43,605.56 crore under the Consolidated Fund of the State.

• Out of this, Rs 1,11,943.84 crore is on Revenue Account and Rs 31,661.73 crore is under Capital Account.
• The aggregate Receipts amount to Rs 2,90,155.65 crore.

ii.Total expenditure from the Consolidated Fund of the State is estimated at Rs 1,43,890.62 crore of which Rs 1,10,091.86 crore is on Revenue Account and Rs 33,798.76 crore is on Capital Account.

• The aggregate expenditure is estimated at Rs 2,88,560.71 crore.

iii.The GSDP is estimated to touch Rs 6.43 lakh crore during FY25 as against Rs 5.7 lakh crore in FY24, showing a growth of 13%.

• Fiscal deficit for FY25 is targeted at 3.5% of GSDP.

Important Highlights:

i.Mukhya Mantri Nijut Moina (MMNM): It is a financial aid for girls joining government colleges and institutions.

• Rs 10,000 for class 11
• Rs 12,500 for first-year graduation
• Rs 15,000 for first-year post-graduation

Allocation– Rs 240 crore towards this scheme in this budget

ii.Mukhya Mantri Mahila Udyamita Abhiyaan: It is a support for women in self-help groups (SHGs).

• Each woman member will receive at least Rs 47,500 through grants, subsidies, and loans.

iii.Mukhya Mantri Awaas Yojana (Gramin): 13,000 houses will be allocated to needy beneficiaries from tea garden communities and the poorest who were not included under the socio-economic caste census.

• Allocation– Rs 600 crore

iv.Housing for Police Personnel: Under this, the Government will construct 10,000 new 2 BHK housing units covering 1,000 Sq Ft area over the next 5 years. The construction of 2,000 houses will be completed in FY25.

• Allocation- Rs 150 crore

v.Housing for Safai Karmacharis: It will provide housing to all safai karmacharis equipped with essential amenities.

• Allocation- In the first phase, a sum Rs 37.50 crore is earmarked for undertaking construction of 250 houses in FY25.

vi.Orunodoi 2.0 – Expanding and More Inclusive

Under this, the benefits of the program extend to transgender and divyangjan individuals in addition to the State’s antyodaya women. As a part of scheme, beneficiaries get Rs 1250 each on the 10th day of every month directly in their bank accounts.

• The state Government will provide Orunodoi Poriyal saturation under National Food Security Act (NFSA) by integrating the ration cards with Orunodoi on pilot basis in the districts of Charaideo and Biswanath
• Allocation- Rs 3800 crore for this scheme in this budget.

vii.Assam Micro Finance Incentive and Relief Scheme – Category III

This will be extended to support poor women borrowers under category-III, whose accounts have become non-performing assets as on 31st March 2021 and have an outstanding principal amount from Rs 25,001 up to Rs 50,000

• Allocation– Rs 550 crore

viii.Mukhya Mantri Sva-Niyojan Mission

Under this, selected Micro-entrepreneurs will receive Rs 2 lakh and Rs 5 lakh in instalments, consisting of a government grant and interest-free loan.

• The loan, repayable over 60 equal instalments starting from the 61st month, comes with training and mentorship across multiple sectors like trading, manufacturing, services, and agriculture.
• Allocation– Rs 1010 crore under Chief Minister Samagra Gramya Unnayan Yojna (CMSGUY).

ix.Asom Mala 2.0

Building on the success of Asom Mala projects, Asom Mala 2.0 will expand the road network by 1000 km, emphasizing connectivity between established National Highways and rural roads. It targets 43 priority roads and 38 bridges across 28 districts, with implementation starting in March 2024.

• This project will cost around Rs 3500 Crores.

x.Green Growth for Greener Assam

As a part of this, in FY25, Government will undertake 3 crore sapling plantation and the allocation for the same is Rs 40 crore.

• In FY 24-25, there will be introduction of another 100 EVs (Electric Vehicles) in the Guwahati metropolitan.

xi.Projects for Amrit Kaal in Assam for FY25:

All these Amrit Kaal projects will be completed in 3 years.

Key Allocations:

i.For Innovative integration of wetlands with River Brahmaputra for floodwater diversion, Rs 200 crore allocated.

ii.Rs 75 crore is earmarked for the Welfare of tea tribe community.

iii.Rs100 crore proposed for transforming Jorhat’s Sukapha Kshetra into a cultural and historical landmark, honouring Ahom dynasty founder, Chaolung Siu-Ka-Pha.

• Rs 3 crore allocated for the promotion of Taralangso festival of Karbi Anglong to attract tourists.

iv.Rs 300 crore proposed for the construction of Chandrapur Stadium, Guwahati.

v.Rs 401 crore assigned for the upgradation of Khanikar Stadium, Dibrugarh district from 5000 to 15000 seating capacity.

vi.Assam will organize a Global Investors’ Summit in the month of November, 2024.

Rs 25 crore proposed for the same.

vii.Gender Budget allocated Rs 16937 crore for 24 departments.

viii.Child Budget received Rs 16834 crore for 12 departments.

ix.Divyang Budget received Rs 1968 crore for 11 departments.

x.Green Budget share is 10.02% of total budget of 18 key departments amounting to Rs 4636 Crore in FY25.

• A Green Budget contributes to achieving various Sustainable Development Goals (SDGs), such as SDG 13 (Climate Action), SDG 11 (Sustainable Cities and Communities), SDG 7 (Affordable and Clean Energy), and other SDGs.

Others:

i.There will be setting up of Training Centre at Padmashree Hemaprova Chutia’s residence

ii.There will be setting up Mukhya Mantri Sangrahalaya which would be a state-of-the-art museum in Guwahati.

iii.Under Rooftop solar mandate, new buildings in Assam must install rooftop solar panels.

iv.Under Farm mechanisation Support, there will be distribution of power tillers, tractors, and other tools to support agriculture.

Major Announcements: 

i.There will be self sufficiency in egg, milk and fish production.

• To boost milk production, Rs 25 crore would be provided towards milk subsidy as a direct support to dairy farmers.
• To attain self-sufficiency in egg production, Rs 25 crore is proposed.
• Fish production will be boosted by utilizing Central schemes and Entrepreneurship Awareness Programs (EAPs).

ii.Rs 15 crore proposed to provide various initiatives to small tea growers in the State and support the modernization of tea processing facilities and training of tea sector in new technologies.

iii.The other announcements include PM Vishwakarma Yojana, Climate Action, Amrit-Guwahati Integrated Global City (Amrit-GiG City), Ayushman Asom : A comprehensive healthcare initiative, Gyan-Dhara – Integrating virtual reality technology with for experiential learning, etc.

Click Here for Full Announcements

Recent Related News:

i.Kati Bihu, also known as Kongali bihu, is the annual Assamese festival celebrated on the first day of the Kati Month in the Assamese calendar, usually coincides with the mid-October. Kati Bihu is celebrated during the time of relocation of the rice sapling which is observed with great enthusiasm and fervor.

ii.On 2 October 2023, on the occasion of Gandhi Jayanti, Assam Chief Minister

(CM) Himanta Biswa Sarma launched the Ayushman Asom: Mukhya Mantri Lok Sevak Arogya Yojana, an online medical bill reimbursement scheme for the Government of Assam’s employees, pensioners and their dependents, at the event held in Sankardev Kalakshetra International Auditorium in Guwahati, Assam.

About Assam:
Chief Minister – Himanta Biswa Sarma
Governor– Gulab Chand Kataria
National Parks– Manas National Park, Nameri National Park
Wildlife Sanctuaries– Bornadi Wildlife Sanctuary, Chakrashila Wildlife Sanctuary