Assam gov't unveils Rs 935 crore deficit budget to address unemployment among youth

The Assam government has unveiled a deficit budget of Rs 935 crore for the fiscal year 2023-2024 today, March 16. The move has been taken with the intention of expanding self-employment options for the state's youth.

Ajanta Neog, state Finance Minister, pledged financial support for 2 lakh unemployed youths in this year's budget. She also said a sum of Rs 5000 crore has been additionally set aside in the budget to help 2 lakh unemployed youth to start businesses and create jobs, as per a report by IANS.

"The total revenue for 2022-23 was estimated at Rs 321,742 crore, while total expenses came in at Rs 321,081 crore, leaving a surplus of around Rs 661 crore for the fiscal year 2023-24," she said while presenting the budget. The Minister also reiterated the poll promise of the BJP to give jobs to 1 lakh youths in Assam.

She said, "42,000 have already received employment. By May 10, when the state government completes its second year, another 40,000 youths would have work." Neog further said that the process to hire 18,000 more people was already underway.

Neog stated that there will be no new taxes added to this year's budget and suggested an exemption for renewable energy producers from the electricity taxes. She also suggested extending the tax vacation for agricultural income taxes for a further three years, as per IANS.