Staff Reporter
Guwahati: It is a big achievement for the state government that it has been able to spend a record 80% of the estimated amount earmarked for the budget in 2023-24. In the budget last year, the total estimated amount was around Rs 1.57 lakh crore, out of which the state government spent an amount of around Rs 1.31 lakh crore.
Sources said that, till a few years ago, the state budget expenditure was around Rs 60,000-70,000 crore, which has now jumped up to Rs 1.30 lakh crore. This means that the overall development of the state has been sped up. They pointed out that the revenue expenditure was greater than the capital expenditure. But now, the scenario has changed, and the capital expenditure is gradually increasing over the revenue expenditure.
Capital expenditure includes salary, establishment costs, interest payments, etc. It means the creation of assets for the state government. Sources also said the share of revenue expenditure has declined from 89.16% in the financial year 2016-17 to 82.26% in 2023-24. On the other hand, the percentage of capital expenditure has improved, registering 3.59% in 2020-21. This has now increased to 4.25% in 2023-24. Capital expenditure in the state increased from Rs 8,044 crore in 2016-17 to around Rs 28,418 crore in 2023-24.
Sources further said the state share of central taxes as well as grants from the Centre is gradually increasing, which marks a positive sign for the state government. In 2016-17, the total amount from the state share of central taxes as well as grants from the Centre was Rs 32,787 crore, which has increased in 2023-24 to Rs 77,072 crore.
Sources also said that fiscal reforms and strict monitoring by the Chief Minister are the primary reasons for the state government's increase in budget expenditure, signalling an increased speed of development in the state. They also said that the state requires around Rs 42,000 crore for the payment of salaries and pensions. Another Rs 35,000 crore is needed for flagship programmes and central sector schemes. Around Rs 20,000 crore is required as establishment costs.
Also Read: Assam Legislative Assembly: House passes state budget for FY 2024-25 (sentinelassam.com)
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