Assam budget: 2 lakh youths to get financial assistance

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Guwahati, Mar 16, 2023, IANS

The Assam government on Thursday unveiled a deficit budget of Rs 935 crore for the fiscal year 2023-2024 with the intention of expanding the state's youth population's options for self-employment.

Ajanta Neog, the finance minister for Assam, pledged financial support for 2 lakh unemployed youths in this year's budget.

According to Neog, a sum of Rs 5000 crore has been set aside in the current budget to help 2 lakh unemployed youths start businesses and create jobs.

"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.

While stating that there will be no new taxes added in the budget, Ajanta Neog suggested exempting renewable energy producers from electricity taxes and extending the tax vacation for agricultural income taxes for a further three years.

She also reiterated the poll promise of BJP to give jobs to 1 lakh youths in Assam.

"42,000 have already received employment. By May 10, when the state government completes its second year, another 40,000 youths would have work," the finance minister mentioned.

Neog further stated that the process to hire 18,000 more people is already under way.