Assam Finance Minister Ajanta Neog Presented State Budget for FY 2022-23

On March 16, 2022, the First Women Finance Minister of Assam Ajanta Neog presented Assam’s Rs 600.36 crore deficit budget for 2022-23 at the Assam Legislative Assembly.

• Reduction of 1 per cent Value Added Tax (VAT) on aviation turbine fuel (ATF) for aircraft.
• The budget has proposed to levy Green Tax on the use of old vehicles.

Key Proposals:

• It is proposed to build 500 km of all-weather roads over river embankments with an approximate outlay of Rs 1107.78 crore.
• The budget relaxed tax on green leaves of tea for a period of 3 years from 1st January 2022 besides extension of incentives for the production of orthodox varieties of tea is extended by a year.
• 4 new schemes for construction of the road has been announced that include Path Nobikaran Achani, Unnoti Pakipath Nirman Achani, Pakipath Nirman Achani, and Mothauri Pokikaran Achani.
• The rivers of Subansiri at Dhunaguri and Luit will have 2 major bridges under the Indian Government and AIIB (Asian Infrastructure Investment Bank).
• New airports to be proposed in Silchar and Karbi Anglong along with 3 new heliports at Geleki, Haflong and Nagaon.
• The Jorhat Jail to be developed as the Memorial Park of North East Freedom Fighter.
• Mission Zero Drop-Out will be launched for the identification and mapping of vulnerable girl children and customized plans to provide child-specific interventions.
• 832 hectare land acquisition for Kaziranga National Park is proposed.
• Mission Basundhara 2.0 has been introduced to offer next-generation land-related services. 
• Youth Commission to be set up under Mukhya Mantri Vikas aru Niyog Asoni. Candidates will be enrolled in intensive coaching for employment in all India/State/ Civil services /SSC/ Banking/ Insurance sectors/ PSUs/ Central Armed Police Forces.
• Amrit Guwahati Integrated Global City (Amrit GiG City) to be developed as a new-age, world-class integrated business city. Spread across 1,000 acres, it will have a world-class infrastructure for next-generation industries.
• In order to promote investment and accelerate industrial development, the state government rolled out the new Industrial and Investment Policy 2022.
• There will be customised and special incentives like tax sops, capital subsidy, production linked incentives (PLI) amongst others will be provided to the mega industries with an investment of Rs 100 crore or more.

Recent Related News:

On 7th January 2022 Assam Government signed a Memorandum of Understanding (MoU) with National Dairy Development Board (NDDB) for holistic dairy development to set up Joint venture (JV) worth Rs.2000 Crore which aims at processing 10 Lakh litres of milk through 6 new milk processing units in 7 years.

About Assam:

Governor – Jagdish Mukhi
Dam– Karbi Langpi Dam, Umrong Dam
Forts – Badarpur Fort, Cachari Fort