Assam Aims for 90% Budget Utilization Amid Fiscal Prudence

Assam Finance Minister Ajanta Neog announced a goal to utilize 90% of the 2025-26 budget. The state adheres to RBI fiscal policies, maintaining a debt-GDP ratio of 24.3%. The budget focuses on social development, offering cash incentives and tax exemptions ahead of the upcoming state elections.

Assam Finance Minister Ajanta Neog stated on Wednesday that the government has set an ambitious target of utilizing 90% of the budget allocations for the 2025-26 fiscal year. Speaking in the Assam Assembly, Neog highlighted the administration's adherence to RBI guidelines for fiscal management, including maintaining a balanced debt-GDP ratio.

Neog's fiscal plans outline a comprehensive approach to state development, emphasizing investments in societal growth. The budget, with receipts amounting to Rs 1,55,428.75 crore, aims to reach an 85% utilization rate for the current year and plans further expenditure without imposing new taxes.

In preparation for the assembly elections next March-April, the budget features strategic financial incentives. These include cash benefits for youths and tea garden workers, tax relief for salaried individuals, and an extended tax holiday on green tea leaves to support the tea industry amidst its economic challenges.