Synopsis
On March 11, Chief Minister Himanta Biswa Sarma declared that Assam's new budget will relieve 1.43 lakh taxpayers by exempting them from Professional Tax. This initiative is part of a broader plan to foster economic growth and support the middle class.Key Takeaways
- 1.43 lakh taxpayers to benefit from tax exemption.
- Exemptions for those earning up to ₹15,000 per month.
- Total budget expenditure is Rs. 2.63 lakh crore.
- Assam to launch its own satellite, 'ASSAMSAT'.
- Financial assistance program for youth titled ‘Prerana’.
Guwahati, March 11 (NationPress) The Chief Minister of Assam, Himanta Biswa Sarma, announced on Tuesday that the new state budget will provide relief to over 1.43 lakh taxpayers in the region by including provisions for exempting Professional Tax.
In a statement on X, CM Sarma mentioned, “To assist our middle class, we have removed the obligation of paying Professional Tax for individuals earning up to ₹15,000 per month. This initiative will positively impact more than 1.43 lakh taxpayers in Assam.”
The Finance Minister of Assam, Ajanta Neog, presented the budget for the fiscal year 2025-26 on Monday, detailing a robust plan aimed at promoting economic development and social welfare.
In a bid to support the middle class, the budget proposed exemptions from Professional Tax for individuals with an annual income of up to Rs. 12 lakh, as well as for seniors aged 60 and above.
The proposed budget outlines a total expenditure of Rs. 2.63 lakh crore, showcasing the government's dedication to balanced growth across various sectors.
Neog also highlighted that Assam is poised to become the first Indian state to launch its own satellite, named 'ASSAMSAT'. This venture aims to enhance data collection for socio-economic projects and improve border surveillance, with an estimated cost of Rs. 450 to Rs. 500 crore.
CM Sarma indicated that discussions are ongoing with the Indian Space Research Organisation (ISRO) and the Indian National Space Promotion and Authorisation Centre (IN-SPACe) to collaborate on this groundbreaking project.
The Chief Minister emphasized the satellite's potential advantages, including the provision of early flood warnings and assistance in border monitoring.
He also pointed out that having a dedicated satellite would enable the state to obtain timely data, which is essential for effective governance and disaster management.
“Beyond its immediate applications, ASSAMSAT is expected to motivate and involve college students in Assam by engaging them in creating experimental satellites, fostering interest and innovation in space technology,” the CM remarked.
Additionally, the budget introduced a financial assistance program aimed at youth empowerment titled ‘Prerana’, offering Rs. 2,500 per month to graduates from government institutions in Assam for a duration of up to one year.
Neog stated, “This initiative is designed to support young individuals during their job search. Furthermore, a one-time grant of Rs. 25,000 was announced for research scholars, with differently-abled scholars receiving Rs. 50,000.”
