Synopsis
Assam's Chief Minister Himanta Biswa Sarma believes the Union Budget will significantly boost the state's growth and provide new opportunities for entrepreneurs. Key investments and policy changes are set to enhance infrastructure and support micro-enterprises.Key Takeaways
- Union Budget to fuel Assam's growth.
- 12 lakh MT Urea factory in Namrup as a game changer.
- 50-year interest-free loans for infrastructure development.
- Tax relief for middle-class families in Assam.
- Increased allocation for disaster relief funds.
Guwahati, Feb 1 (NationPress) Assam Chief Minister Himanta Biswa Sarma stated on Saturday that the Union Budget introduced by Finance Minister Nirmala Sitharaman will accelerate Assam's progress while creating fresh prospects for entrepreneurs within the state.
Sarma noted: "Today's #ViksitBharatBudget2025 injects new energy that will propel Assam's growth trajectory, provide a fresh impetus for our entrepreneurs, bolster our Kisan and plantation economy, and meet the aspirations of the middle class."
He also highlighted the potential advancements in Assam that could arise from this Union Budget.
"The declaration of a 12 lakh MT Urea factory in Namrup will serve as a significant game changer for the state, following the Jagiroad Semiconductor facility. The investment of over Rs 10,000 crore will enable Assam to utilize its natural gas resources for fertilizer production, thereby decreasing India's reliance on imported agricultural inputs. This factory will also generate a considerable number of jobs and export opportunities for the state.
"The Budget allocates Rs 1.5 lakh crore in the form of 50-year interest-free loans aimed at infrastructure development in states. This provision, along with the increased devolution totaling Rs 44,494 crore, will facilitate the acceleration and enhancement of ongoing welfare initiatives," he added.
According to the Chief Minister, the Union Budget has conveyed a clear message that positions micro-enterprises and entrepreneurs as the driving force behind the nation’s economy.
He remarked: "This policy direction aligns with Assam's primary focus on promoting entrepreneurship through initiatives like CM Atmanirbhar Asom Abhijan and Mahila Udyamita Asoni. The updates in the classification of turnover and investment for MSMEs will significantly boost the backbone of Assam's economy, creating more job opportunities and avenues for capital acquisition."
Sarma indicated that the Gramin Credit Score framework will also cater to the credit requirements of Assam's extensive SHG network, which includes over 30 lakh women.
The CM further praised the announcement of substantial tax relief in the Union Budget, stating: "The income tax exemption up to 12 lakh is exceptional news for middle-class families in Assam and across the nation. This will increase disposable income, enhance savings, and support economic growth."
Additionally, the CM noted that the Union Budget plans to add 75,000 MBBS seats over the next five years.
He contended that this initiative supports Assam's own goal of establishing 24 medical colleges by 2030.
Sarma also mentioned that the raised allocation for the National Disaster Relief Fund to Rs 12,048 crore, along with the National Disaster Mitigation Fund increased to Rs 3,102 crore from Rs 2,300 crore, will significantly enhance Assam's capacity to handle disasters like floods.
