Indian Chamber of Commerce hopeful about Assam budget

STAFF REPORTER

GUWAHATI: The Indian Chamber of Commerce, North East Regional Council, and Assam State Council welcomed the state budget on Thursday.

The Indian Chamber of Commerce North East Regional Council, chaired by Mahesh Kumar Saharia, said that the state budget 2023-24 presented by Finance Minister Ajanta Neog represented an intention to focus on the MSME sector, self-employment generation, and the initiation of the development and promotion of first-generation entrepreneurs.

The first "Amrit Kaal" budget tabled by the Assam government is planning to grow the GDP to Rs 5.5 lakh crore in 2023-24 from Rs 3.93 lakh crore in 2021-22. After adding the receipts of Rs 1,80,298.83 crore under the public account and Rs 2,000 crore under the contingency fund, the aggregate receipts amount to Rs 3,21,742.71 crore. Taking into account the expenditure of Rs 1,79,326.48 crore under the public account and Rs 2,000 crore under the contingency fund, the aggregate expenditure for the year is estimated at Rs 3,21,081.75 crore. Thus, the estimated transactions during the year will result in an estimated surplus of Rs 660.96 crore.

The budget aims to promote microentrepreneurs; the government will spend Rs 5,000 crore over the next three years to "transform" over 2 lakh youths into job creators. A total of Rs 1,000 crore was allocated for FY24 under the 'Mukhya Mantri Sva-Niyojan Mission' for creating self-employment. "The Indian Chamber of Commerce, which has been advocating for the growth of the state economy, MSME, and job creation, has deeply appreciated the steps tabled in today's budget," said Mahesh Kumar Saharia, Chairman, NE Regional Council of the Indian Chamber of Commerce.

By 2026, Assam will emerge as the hub of healthcare in Northeast India, and infrastructure is being set up accordingly and with the announcement of the launch of the Assam Urban Health Mission, which will provide affordable, accessible, and quality healthcare for the urban population. Sarat Kumar Jain, Chairman, Assam State Council of Indian Chamber of Commerce, says that Rs 15,102 crore, which has been provided under various heads for the development of infrastructure in the form of roads and buildings under PWD; under the Pragyan Bharati scheme, Rs 2,500 crore, which has been assigned to building infrastructure, renovation, upgradation of schools, setting up of tea garden high schools, etc., will surely help to accelerate the growth of Assam.

The Indian Chamber of Commerce states that the Assam budget is one of the most inclusive budgets in recent times, taking care of common people by continuing the social security schemes, MSME, the tea industry, the healthcare sector, infrastructure, education, etc. in an attempt to promote the overall growth of the state.