GUWAHATI, March 12: Finance Minister Ajanta Neog on Wednesday said the government has set a target of utilising 90 per cent of the budget estimates during 2025-26 financial year.
Replying to a discussion on the budget for the next fiscal in Assam Assembly, Neog said the government is following all RBI regulations in managing the state’s fiscal health, including debt-GDP ratio.
“We are targeting to use 90 per cent of the budget allocation next fiscal. We need to look at the state holistically and develop all sections of the society,” she added.
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According to the next fiscal’s budget, which was presented by Neog on Monday, showed a receipt of Rs 1,55,428.75 crore under the consolidated fund of the state.
She told the House that the utilisation will touch around 85 per cent of the total budget estimates of Rs 1,43,891 crore during the current financial year.
“We have also taken debt as per the RBI limitation and there is no need for worry,” Neog told Independent MLA Akhil Gogoi, who raised the issue of debts taken by the state.
As per the budget, the debt-GSDP ratio of Assam stood at 24.3 per cent in 2023-24.
Presenting the last full Budget of the second BJP-led government in Assam, Neog on Monday doled out a series of cash incentives to the public, mainly the youths and tea garden workers, and tax exemptions to the salaried section ahead of the state polls next year.
With a deficit of Rs 620.27 crore, she tabled a Rs 2.63 lakh crore Budget for the next financial year that proposed no new tax for the general public but gave additional relief to nearly 1.5 lakh salaried people.
The Finance Minister also announced to extend the tax holiday for green tea leaves for two more years to alleviate the challenges faced by the tea industry, while offering a one-time cash benefit of Rs 5,000 to 6.8 lakh garden workers.
Assembly elections in Assam are likely to take place during March-April next year, making this the last full budget of the Himanta Biswa Sarma-led second BJP government in the state. (PTI)
