Two significant events that dotted the development landscape of Assam in February were the visit of the Prime Minister to the State and the forward-looking Budget presented by Finance Minister Ajanta Neog, that talked of a development-oriented approach in the State.
Whereas the Prime Minister launched schemes worth ₹11,600 cr, which will have a domino effect on the State and its economy, the Budget presented by the Finance Minister seeks to empower women, entrepreneurs, green energy and boost infrastructure spending or capital expenditure in the coming year.
What has helped the Government in the year gone by is the buoyancy in revenue from GST, and Excise while managing to navigate the tight fiscal situation that most Indian States are in. An impressive growth in capital expenditure is always a healthy sign for any economy. This is where Assam has done exceedingly well. The expenditure on this head, which was ₹16,000 cr in 2022-2023, is expected to reach ₹20,000 cr in the coming fiscal. It means creation of employment opportunities in the State which has an unemployment figure that is not to be proud of.
To cut a long story short, the growth trajectory achieved has been possible because of the successful reform measures put in by the Government when it came to power, whose results are now surfacing.
One hopes that the Government will continue to walk the tightrope between fiscal support to the needy and reform measures where required.
