Budget Highlights

Budget Highlights:
  • The Gross State Domestic Product (GSDP) of Assam for 2023-24 (at current prices) is projected to be Rs 5.67 lakh crore, amounting to growth of 15% over 2022-23.
  • Expenditure (excluding debt repayment) in 2023-24 is estimated to be Rs 1,35,348 crore, a decrease of 11% over the revised estimates of 2022-23. In addition, debt of Rs 4,407 crore will be repaid by the state.
  • Receipts (excluding borrowings) for 2023-24 are estimated to be Rs 1,14,392 crore, an increase of 2.3% as compared to the revised estimate of 2022-23. In 2022-23, receipts (excluding borrowings) are estimated to be Rs 12,144 crore higher than the budget estimate (increase of 12.2%).
  • Revenue surplus in 2023-24 is estimated to be 0.5% of GSDP (Rs 2,748 crore), whereas a revenue deficit of 3% of GSDP is estimated for 2022-23 (revised estimate). In 2022-23, the state had budgeted a revenue surplus of Rs 3,295 crore (0.7% of GSDP).
  • Fiscal deficit for 2023-24 is targeted at 3.7% of GSDP (Rs 20,957 crore). In 2022-23, as per the revised estimates, fiscal deficit is expected to be 8.1% of GSDP, significantly higher than the budget estimate of 3.2% of GSDP.
Policy Highlights:
  • Support for MSMEs: The Mukhya Mantri Sva-Niyojan Mission scheme proposes to promote micro-entrepreneurship among families below the poverty line and low income-households. Under the scheme, seed capital of two lakh rupees each will be given to one lakh beneficiaries. The sectors covered under the scheme will include manufacturing, food processing, and handicraft. A further one lakh youth entrepreneurs will be provided project-based subsidies.
  • Mukhya Mantri Awaas Yojana: The government proposes to provide housing to one lakh beneficiaries in 2023-24.
  • Mukhya Mantri Ayushman Asom Yojana: Health insurance coverage amounting to five lakh rupees would be extended to 27 lakh additional families, identified from the list of beneficiaries under the National Food Security Act, 2013.
  • Mission for Prevention of Child Marriage: All Gram Panchayat Secretaries will be designated as Child Marriage Prevention Officers. These officers will ensure prohibition of child marriages, protection of victims, and prosecution of offenders. The scheme aims to make Assam free of child marriage by 2026.