Assam's Ambitious Budget: Relief for Taxpayers and Tea Industry

Assam Finance Minister Ajanta Neog presented a Rs 2.63 lakh crore budget for 2025-26 with a Rs 620.27 crore deficit. The budget includes a professional tax exemption for incomes up to Rs 15,000 and extends a tax holiday for green tea leaves, benefiting taxpayers and the tea industry.

In a significant move, Assam Finance Minister Ajanta Neog unveiled a Rs 2.63 lakh crore budget for the 2025-26 fiscal year, highlighting a Rs 620.27 crore deficit. The budget arrives ahead of the state elections slated for early next year.

A key feature of the proposed budget is the exemption of professional tax for individuals earning up to Rs 15,000 monthly, a measure aimed at boosting the purchasing power of over 1.43 lakh taxpayers across the state.

Furthermore, Neog announced an extension of the tax holiday for green tea leaves, targeting economic relief for the struggling tea industry, which has been grappling with numerous challenges.

(With inputs from agencies.)