GUWAHATI: Two days after it was presented in the Assembly, the Assam Budget in retrospect has been met with widespread acclaim for its strategic allocations aimed at driving economic growth, social empowerment, and environmental conservation across the state. Business North East reached out to industry leaders from Assam who mostly lauded the budget for its inclusivity.

The Indian Chamber of Commerce, the North East Initiative, The Federation of Indian Chambers of Commerce & Industry (FICCI) Northeast Advisory Council, and the Assam State Council have all welcomed the budget's emphasis on inclusive development and social welfare. On the other hand, Sarat Kumar Jain, Chairman of the Assam & Meghalaya Chapter of the Indian Chamber of Commerce, hailed this as a pathway to better fiscal health. Mahesh Kumar Saharia, Chairman of ICC, North Eastern region, praised the budget's inclusivity and focus on basic economic parameters, particularly highlighting the government's commitment to the development of women and children by supporting the education of women.

"In terms of infrastructure development and environmental conservation, the budget allocated significant funds across various sectors", Ranjit Barthakur, Chairman of FICCI Northeast Advisory Council, said. He commended the allocation of funds towards sustainable practices in agriculture, school transformation, and environmental conservation. Equally notable is the allocation of Rs. 40 crore for the Amrit Brikshya Andolan, aimed at planting 3 crore saplings, in line with global sustainability commitments, Barthakur mentioned.

Saharia remarked on the budget's inclusivity across various sectors and economic parameters, while Jain highlighted the government's dedicated efforts to promote inclusivity and ensure improved housing, benefiting rural communities and propelling growth in the housing sector within these regions. Bibhuti Dutta, Resident Director at PHD Chamber of Commerce and Industry, described the Assam State Budget 2024-25 as a development-oriented budget, with a focus on infrastructure development projects, sociocultural initiatives, and environmental conservation. Overall, it is perceived as a budget aimed at fostering sustainable growth, taking into consideration the Sustainable Development Goals (SDGs), Dutta commented.

Joydeep Gupta, Co-Chairman, FICCI Assam State Council, lauded the government's focus on infrastructure initiatives such as the Asom Mala project, aimed at improving road connectivity across the state. The budget also allocates Rs 100.86 crore towards tourism development, emphasizing the importance of the tourism sector for Assam's socio-economic growth.

Ravi Kr. Patwa, Chairman of FICCI Assam State Council, praised the budget for its focus on fiscal responsibility and its potential for sustainable economic growth. He highlighted the government's dedication to fiscal prudence through reforms aimed at enhancing revenue and introducing procurement reforms and digital infrastructure for Direct Benefit Transfer Schemes (DIDS). "These initiatives position Assam as an attractive destination for investment, reflecting a forward-looking approach towards sustainable development", noted Patwa.

Additionally, FICCI welcomed the government's decision to host a Global Investors’ Summit in November 2024, anticipating that it would attract significant national and international investments, thereby stimulating job creation and industrial growth in Assam.

Furthermore, the budgetary provision for welfare measures for tea garden workers has been lauded by industry representatives. Dipanjol Deka, Secretary of the Tea Association of India, appreciated initiatives such as wage compensation for pregnant workers, providing drinking water through the Jaal Jeevan mission, and setting up model schools. However, he also stressed the need for measures to mitigate the rising cost of procuring food grains for tea garden workers.

Overall, the Assam State Budget for 2024-25 has been hailed as a comprehensive blueprint for sustainable growth, social empowerment, and environmental conservation. The budget, with no new taxes proposed, focuses on initiatives such as sending 25,000 pilgrims to visit the Ram Mandir at Ayodhya and supporting the education of 10 lakh girls up to the post-graduation level to eradicate child marriage from society.

The Budget Estimates for 2024-25 reveal a receipt of Rs 1,43,605.56 crore with total expenditure estimated at Rs 1,43,890.62 crore, resulting in a deficit of Rs 774.47 crore. Assam's Gross State Domestic Product (GSDP), is estimated to reach Rs 6.43 lakh crore in 2024-25, marking a significant increase from Rs 5.7 lakh crore in the current financial year.

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