Assam Budget 2024 Live: Ajanta Neog Presents Budget | Key Points

Assam Finance Minister Ajanta Neog will present the state budget for the 2024-24 fiscal year on Monday, February 12 during the ongoing Budget Session of the Assam Legislative Assembly.
Finance Minister Ajanta Neog presented the Assam Budget in the legislative assembly
Finance Minister Ajanta Neog presented the Assam Budget in the legislative assembly

Assam Budget 2024 Live: A glance at the day's activities

The Assam Budget for 2024-25 financial year is scheduled to be tabled today by Finance Minister Ajanta Neog in the Assam Assembly. Sources close to the developments inform that the budget is expected to be tabled at around 2 pm in the afternoon.

Ahead of that, the day's activities will begin with question and answer period at around 9:30 am. The home department will be faced with answering several crucial questions aimed at it, including those on the National Register of Citizens (NRC) and Foreigners' Tribunal, sources informed.

Today's activities of the Assam Assembly will be divided into two sessions - one from 9:30 am to 12 noon, and the other from 2 pm till the end of budget speech.

Live updates end here

Assam Budget 2024 Live: Highlights of budget

Assam Budget 2024 Live: Flagship schemes | One lakh plus jobs

Summary
  • Our Government boldly announced that we shall provide one lakh Government jobs to our boys and girls. We feel proud to state that we have successfully completed the recruitment of 94,506 youths till January 2024.

Details
Details
Summary

Further, advertisements for 35,910 posts have already been published taking the total jobs created to 1,30,416. You all agree that this is perhaps the first time such a record-level recruitment has taken place within the shortest possible time.

Summary
  • We are very keen to see the benefits of these jobs accrued to as many families as possible bringing social equity.

Assam Budget 2024 Live: Flagship schemes | Chief Minister’s Atmanirbhar Assam Abhijan

Summary
  • Last year I announced Mukhya Mantri Sva-Niyojan Mission as a flagship scheme.

  • It received tremendous response and about 1,04,000 youth applied and submitted detailed project reports. Selection process shall commence from this February month itself.

  • Micro-entrepreneurs will receive Rs 2 lakh and Rs 5 lakh in instalments, as a combination of government grants plus interest-free government loan. Interest-free government loan to be paid back after a period of 5 years starting from the 61st month in 60 equal installments. There will be training and mentorship in various sectors including Trading, Manufacturing, Service, Food Processing, Handloom, Handicraft, Agriculture, Animal Husbandry, Fishery, and Dairy etc.

  • Rs 1,010 crore will be spent for this purpose from under Chief Minister Samagra Gramya Unnayan Yojna (CMSGUY).

Assam Budget 2024 Live: Flagship schemes | Assam micro finance incentive and relief scheme – category III

Summary
  • It gives me immense pleasure to apprise this House that fulfilling our promise, under Category I, II and III (Phase-1) of the Assam Micro Finance Incentive and Relief Scheme, around 12 lakh borrowers have received assistance totalling Rs. 2,081 crore.

Allocation
Allocation
Summary
  • This year, we will extend support to those poor women borrowers under category-III, whose accounts have become non-performing assets as on 31st March 2021 and have an outstanding principal amount from Rs 25,001 up to Rs 50,000.

  • I allocate a sum of Rs 550 crore for this scheme during the Financial Year 2024-25.

Assam Budget 2024 Live: Flagship schemes | Orunodoi 2.0 - expanding and more inclusive

Summary
  • In keeping with our pledge from the previous year, Orunodoi 2.0 has been introduced statewide to guarantee that the benefits of the program extend to transgender and divyangjan individuals in addition to the State's antyodaya women.

  • Today, Orunodoi also includes households with individuals who have dwarfism or who suffers from conditions like cerebral palsy, thalassemia, haemophilia, leprosy, or autism spectrum disorder.

  • Scheme coverage has expanded to more than 27 lakhs beneficiaries today. They have been receiving Rs. 1250 each on the 10th day of every month directly in their bank accounts.

  • Speaker sir, it’s my privilege to announce today that our Government has decided to include 2.5 lakh additional beneficiaries under this Scheme this year, taking total reach of Orunodoi to more than 30 lakh households in the state.

  • Further, Government will attempt to provide Orunodoi Poriyal saturation under National Food Security Act (NFSA) by integrating the ration cards with Orunodoi on pilot basis in the districts of Charaideo and Biswanath.

  • In order to ensure Ease of living for these needy, Government will consider providing Orunodoi Beneficiaries insurance coverage under two Schemes -Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY).

  • I am earmarking Rs. 3,800 crore for this scheme in this budget.

Assam Budget 2024 Live: Flagship schemes | Mukhya Mantri Mahila Udyamita Abhiyaan

Summary
  • Mukhya Mantri Mahila Udyamita Abhiyaan, an ambitious mission aimed at promoting the entrepreneurial spirit of our women.

  • Our Government’s twin objectives are to strengthen income of our women entrepreneurs and also to establish them as business entrepreneurs in Amrit Kaal.

  • We will provide an entrepreneurship fund of Rs. 10,000 to each one of 39,67,743 women members of Self-Help Groups in the rural areas, subject to certain conditions, throughout the State.

  • Once they avail this benefit, we commit to facilitate a bank loan of minimum of Rs. 25,000 to each beneficiary. Furthermore, upon the prudent utilization and timely repayment of the loan amount, a capital subsidy of Rs. 12,500 will be provided to the beneficiary.

  • Thus, each beneficiary would get a minimum of Rs. 47,500 as grant, subsidy and loan together.

  • The distribution of application forms to the SHG members for availing the same has already been started.

  • I am glad to announce that we shall extend the implementation of this scheme in urban areas also as Mukhyamantri Mahila Udyamita AbhiyaanNogoria covering approximately 2.5 lakh SHG members.

  • I allocate adequate resources for the successful implementation of this scheme.

Assam Budget 2024 Live: Flagship schemes | Mukhya Mantri Nijut Moina (MMNM)

"Inspired by the 18 chapters of the Bhagavad Gita, the Astadash Mukutor Unnoyonee Mala was conceptualized by then Finance Minister and our beloved Chief Minister, Dr Himanta Biswa Sharma in 2017-18. These 18 Schemes are dynamic in nature. Some of the completely new and innovative and others have been improved as per the changing needs of our society," said Ajanta Neog.

Summary
  • 10 lakh girls (one million- Nijut Moina) will be supported with financial grants as admission incentives to continue their education to higher secondary, graduation, and post-graduation studies.

  • This is to bolster the Government’s Mission to eliminate child marriages. Apart from punitive and regulatory measures, we need to empower the girl children to decide when to marry.

  • If 10 lakh girl children are encouraged to study till graduation and post-graduation, this would also increase the percentage of girls educated beyond Matriculation.

  • They will be eligible for this benefit only if they study in any government college/education institution. Secondly, the girls married are not eligible for this benefit.

  • An admission incentive of Rs.10,000 will be paid to each of the girl student who joins in Class 11.

  • Similarly, Rs. 12,500 will be paid to those girls who join graduation first year.

  • For a girl student who joins in the first year of postgraduation course shall get an admission incentive of Rs. 15,000.

  • This is in addition to the existing benefits like free admission, provision of scooty, etc as applicable.

  • I propose to set apart Rs. 240 crore towards this scheme in this budget.

Assam Budget 2024 Live: Ajanta Neog's speech

Another significant achievement is introduction of Digital Infrastructure for Direct Benefit Transfer Schemes (DIDS) module. DIDS is a high-end digital platform developed to implement DBT schemes in 'plug and play' mode. Any department today may directly launch and implement DBT schemes with ease, which would drastically reduce the administrative cost of the schemes and would ensure 'end-to-end' digitization of the schemes. After on boarding Orunodoi on DIDS platform, 1.65 lakh duplicate beneficiaries were eliminated and it further minimized verification time and benefits disbursement period.
Ajanta Neog, Assam Finance Minister

Assam Budget 2024 Live: Ajanta Neog's speech

Procurement Reforms have improved quality of governmental expenditure. Value of tenders published under e-Procurement has swelled up from Rs.9100 crore in financial year 2017-18 to Rs.41,800 crore in financial year 2022-23. Procurement on Government e-Market place has seen an upsurge from Rs.176 crore in financial year 2020-21 to more than Rs.1532 crore in financial year 23-24 (till January).
Ajanta Neog, Assam Finance Minister

Assam Budget 2024 Live: Ajanta Neog's speech

Due to increase in our capacities and better coordination at different levels, Government of Assam has benefitted greatly from Scheme for Special Assistance to States for Capital Investment(SASCI), 50-years interest free loan from Government of India in the last four years. Release of funds to Assam under the Scheme has soared by more than 10 times in last 4 years.
Ajanta Neog, Assam Finance Minister
Assam budget
Assam budget

Assam Budget 2024 Live: Ajanta Neog's speech

At present, there are 18 ongoing and 8 pipeline EAPs with total project cost of Rs.37,700 crore and Rs.20,364 crore respectively in the State. With total projects worth Rs.58,064 crore, Assam stands as one of the biggest beneficiaries of EAPs.
Ajanta Neog, Assam Finance Minister

Assam Budget 2024 Live: Ajanta Neog's speech

Assam has successfully tapped Rural Infrastructure Development Fund (RIDF) and Externally Aided Projects (EAP) for earmarked Capital projects. The funds mobilised for Capital Expenditure under RIDF and EAP have shown an overall increase of 177 % and 437% in the last five years respectively.
Ajanta Neog, Assam Finance Minister
The graphical representation of the above data
The graphical representation of the above data

Assam Budget 2024 Live: Ajanta Neog's speech

Speaker Sir, the budgetary expenditure has increased to Rs.1,27,283 crore in financial year 2022-23 against Rs.41,931 crore in financial year 2015-16. Notably, Capital Expenditure has increased from Rs.2951 crore in financial year 2015-16 to Rs. 16,338 crore in financial year 2022-23.
Ajanta Neog, Assam Finance Minister

Assam Budget 2024 Live: Summary of GSDP estimates and per capita income

The GSDP estimates and per capita income
The GSDP estimates and per capita income

Assam Budget 2024 Live: Ajanta Neog's speech

Similarly, the State is fast catching up in its per capita income and it has almost more than doubled within last 7 years by 2023-24. The per capita income of the State at current prices for the FY 2022-23 is Rs. 1,20,336, as compared to Rs. 66,330 in 2016-17. This is estimated to reach Rs.1,35,787 in 2023-24.
Ajanta Neog, Assam Finance Minister

Assam Budget 2024 Live: Ajanta Neog's speech

I am also happy to inform the House that the contribution of State's economy to the national economy has also been increasing. At current prices, the contribution of GSDP of Assam has recorded a rise from 1.65 percent in financial year 2016-17 to 1.81 percent in the financial year 2022- 23 (QE). At constant (2011-12) prices also, the State's contribution to national GDP has increased from 1.64 percent to 1.87 percent during the same period.
Ajanta Neog, Assam Finance Minister

Assam Budget 2024 Live: Ajanta Neog's speech

Speaker Sir, it is very encouraging to note that the State of Assam is growing faster than the national growth. The nominal economic growth of Assam is estimated to be 19.9 per cent in the year 2022- 23(QE) as compared to 16.1 per cent growth at the national level.
Ajanta Neog, Assam Finance Minister

Assam Budget 2024 Live: Ajanta Neog's speech

As per the advance estimates, the nominal GSDP for Assam at current prices for 2023-24 (AE) is likely to reach Rs. 5.70 lakh crore, as against Rs. 4.93 lakh crore in 2022-23 (QE) reflecting a growth of 15.6 per cent over the preceding year. The real GSDP for Assam at constant prices for the year 2023-24 is likely to attain a level of Rs 3.19 lakh crore as against Rs 3.01 lakh crore in the year 2022-23(QE) reflecting a growth of 5.9 per cent over the preceding year.
Ajanta Neog, Assam Finance Minister

Assam Budget 2024 Live: Ajanta Neog's speech

As per projected estimate, the State GDP at current prices for the year 2024-25 is expected to touch Rs. 6.43 lakh crore. This is more than 150% increase over the GSDP of Rs. 2.54 lakh crore for the year 2016-17.

Ajanta Neog, Assam Finance Minister

Assam Budget 2024 Live: Ajanta Neog's speech

In this development journey, the main motto of our government is to build a self-reliant Assam. Our triumphs and achievements of the recent past have inspired us to build the foundation of an Atmanirbhar Assam. A document that stands testament to this inspiration is the budget that I am presenting today. This budget reflects the hopes and expectations of a confident and self-reliant Assam. With this spirit and reflection, I want to dive deeper into the Budget.
Ajanta Neog, Assam Finance Minister

Assam Budget 2024 Live: Ajanta Neog's speech

With the goal of securing Assam's position among the top five states in the country, the Hon'ble Chief Minister has announced that we will continue our journey of development to ensure every single citizen of Assam has access to government development schemes.
Ajanta Neog, Assam Finance Minister

Assam Budget 2024 Live: Ajanta Neog's speech

It gives me absolute joy and pride to apprise the august House that 80.36 lakh people in Assam have been uplifted from the poverty in the last nine years as per NITI Aayog report on Multi-Dimensional poverty Index. There is a massive decline of poverty head count ratio which has plummeted from 36.97% in 2013-14 to 14.47% in 2022-23.
Ajanta Neog, Assam Finance Minister

Assam Budget 2024 Live: Ajanta Neog's speech

This is my fourth budget under the leadership of Hon'ble Chief Minister, Dr Himanta Biswa Sarma. We started our journey with the aim of building a prosperous, confident and self-reliant Assam with the ultimate objective sabka saath, sabka vikas, sabka vishwas, sabka prayaas.
Ajanta Neog, Assam Finance Minister

Assam Budget 2024 Live: Ajanta Neog's speech

Speaker Sir, invoking the Janakalyan Shanti Mantra of the Brihadaranyaka Upanishad, I rise today to present, to you and the Hon'ble House, the Annual Financial Statement encompassing all Receipts and Expenditure for the year 2024-25. Our endeavour is to reflect the essence of this Mantra in the entire budget.
Ajanta Neog, Assam Finance Minister

Assam Budget 2024 Live: Ajanta Neog begins speech

Assam Finance Minister Ajanta Neog has begun her budget speech in the 'Amrit Kaal' by customary greetings, thanking Prime Minister Narendra Modi, Union Finance Minister Nirmala Sitharaman, Cheif Minister Himanta Biswa Sarma.

Assam Budget 2024 Live: Ajanta Neog arrives with the budget

Assam Finance Minister Ajanta Neog arrived at the state assembly with this year's budget. Here are some pictures of her arrival.

Assam Budget 2024 Live: Highlights of ongoing budget session of Assam Assembly

Several key bills were tabled during the ongoing Budget session of the Assam Legislative Assembly which began on February 5. On the very first day of the budget session the Assam Public Examination Bill (Measures for Prevention of Unfair Means in Recruitment), 2024 was tabled in a bid to curb cheating and use of other unfair means during examinations.

The Assam cabinet meeting held ahead of the budget also approved the Assam Healing (Prevention of Evil) Practices Bill, 2024.

Reporting on the outcome of the cabinet meeting at Lok Sewa Bhawan in Guwahati, Assam Tourism Minister Jayanta Mallabaruah stated that the state cabinet, chaired by Chief Minister Himanta Biswa Sarma, has given its approval to the Assam Healing (Prevention of Evil) Practices Bill, 2024. This bill aims to offer support to individuals who have been subjected to harmful magical practices under the guise of treatment.

The Assam cabinet has given the green light to the creation of the Wildlife Safari and Rescue Centre in Namdang Reserved Forest, located in the Dibrugarh district. The estimated cost of the project is Rs 259 crore, aimed at offering rescue and rehabilitation services for the local wildlife.

To know more about the cabinet decisions, click here.

Finance Minister Ajanta Neog presented the Assam Budget in the legislative assembly
Crucial Assam Cabinet Meeting Ahead Of Budget | Key Points

Assam Budget 2024 Live: Heavy security deployed outside new Assembly building ahead of its first budget

Watertight security measures are in place at the newly constructed Assam Legislative Assembly building which will witness its first budget today.

Assam Budget 2024 Live: Reactions arrive from opposition

Congress MLA from Naoboicha in Assam's Lakhimpur, Bharat Narah expects the budget to attract and appease voters with the Lok Sabha general elections ahead.

He said, "The government will bring a Lok Sabha-centric budget. Expectations are to introduce welfare schemes in a bid to attract voters."

"The real picture will be clear only after the budget is tabled," added Narah.

Meanwhile, Congress' Salmara South constituency MLA Wazed Ali Choudhury echoed the sentiments saying that there is no special expection from the budget as it will be an election-centric one.

Assam Budget 2024 Live: Assam CM begins questions round

Assam Chief Minister Himanta Biswa Sarma began the question and answer period of the legislative assembly by taking questions from the opposition as the holder of the portfolio of home affairs. Here's the live feed.

Assam Budget 2024 Live: What Ajanta Neog said ahead of budget?

Ahead of the beginning of the budget session of the Assam Legislative Assembly on February 5, Finance Minister Ajanta Neog had said, "This will be my fourth budget. I am going to place the budget in the floor of the house on February 12. My first priority is to place a realistic budget. This is an important aspect that whenever place a budget the expenditure should be 100 percent."

"From my three years experience we have seen that our expenditure is upto sometimes it is near about 80 percent. This year we are going to try a new formula that if we place a realistic budget then the expenditure will be more," the Assam finance minister said.

She further said, "First, we have prepared a realistic budget. We are trying to make such a budget where every sector will be reflected. We will try to give benefits to the women, youths and as a whole we will try to make it as in place of expenditure also, increase of public expenditure, capital expenditure in case of infrastructure development."

Finance Minister Ajanta Neog presented the Assam Budget in the legislative assembly
Assam Budget For 2024-25 Fiscal Year To Be Tabled On Feb 12

Assam Budget 2024 Live: Where will the focus lie for Himanta government's fourth budget?

Infrastructural development has witnessed a never-seen-before boom in the last four years in Assam under Chief Minister Himanta Biswa Sarma government. New roads, highway, flyovers and bridge projects have come up and many remain in the pipeline.

"Flyover politics" is likely to take centre stage with the upcoming Lok Sabha general elections this year and then polls in the state in two years' time. So could infrastructure take the limelight in the budget?

Here's a look at the previous budget.

Finance Minister Ajanta Neog presented the Assam Budget in the legislative assembly
Assam Budget 2023-24: Ajanta Neog Announces Slew Of Infrastructural Projects

Assam Budget 2024 Live: What to expect from budget?

The Assam Finance Minister had presented the budget last year with an aggregate expenditure approximately around Rs 3.21 lakh crore for the year.

Ajanta Neog had announced that Assam's GDP estimates will rise to Rs 5.5 lakh crore in 2023-24 from Rs 3.93 lakh crore in 2021-22. She had further proposed the implementation of a scheme to promote microentrepreneurs for the creation of self-employment opportunities among the unemployed youths belonging to the below poverty line (BPL) families and low-income households.

Chief Minister Himanta Biswa Sarma earlier said that his government aims to make Assam a Rs 10 lakh crore economy. Expectations will be high, while the common man will look for only one thing - respite from rising inflation in day-to-day commodities.

Assam Budget 2024 Live: Finance Minister Ajanta Neog to bring "realistic" budget

On the eighth day of the ongoing budget session of the Assam Legislative Assembly that began on February 5, Finance Minister Ajanta Neog is all set to table the state's budget for the 2024-25 fiscal year. Earlier, she had said that the priority this year will be place a "realistic" budget. Follow all the action during a heated budget day live on Pratidin Time.

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