We’re for growth-oriented and realistic Budget: Assam CM Himanta Biswa Sarma

STAFF REPORTER

GUWAHATI: Chief Minister Himanta Biswa Sarma said that the state’s annual Budget for the financial year 2024–25 would be “a public-oriented budget in a growth-oriented and capital-based reality by ensuring good use of wealth.”

The Chief Minister is holding review meetings with various departments to prepare the budget proposals. He has held meetings with as many as 16 departments so far.

The budget session of the state assembly will start on February 5. The government will table the budget on February 12. The budget estimate for the financial year 2023–24 was Rs 1.39 lakh crore.

The Chief Minister said, “Our aim is to deliver a budget that is growth-oriented, capital-intensive, and realistic with optimal allocation of resources.”

According to the Finance Department’s sources, capital expenditure has been a major boost for the government. The greater the capital expenditure, the greater the asset creation will be. In the financial year 2015-16, the capital expenditure was only Rs 2,951 crore. That has increased to Rs 20,299 crore in 2021–22. Likewise, during the period from 2017-18 to 2021-22, Assam achieved an annual average growth rate of 10.25 percent in terms of GSDP (Gross State Domestic Product) at the current price index, the sources in the department said.

Presenting the annual budget last year, Finance Minister Ajanta Neog said, “For us, only the development of the state is important because the people of Assam want rapid development of the state.”

According to sources, this year’s budget will also follow this development trajectory with a minimal tax burden and with a thrust on increasing the collection of revenue by the state from its own sources.

Also read:   2024 will be a year of iconic and big-ticket projects: Chief Minister Himanta Biswa Sarma

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