(MENAFN- KNN India)
Assam govt introduces 10% capital subsidy scheme for MSMEs
Guwahati, Mar 17 (KNN) The government of Assam on Thursday presented a deficit Rs 935.23 crore worth budget for the 2023-24 financial year.
Finance Minister Ajanta Neog proposed a capital subsidy at the rate of 10 per cent of the fixed capital investment with a ceiling of Rs 50 lakh for the MSME sector under the Mukhya Mantrir Laghu Udyog Udagoni Aachoni'.
“It is anticipated that this will result in the creation of more than 3,000 new MSMEs with a direct employment potential of approximately 25,000 jobs,” she added.
She said that the government has announced to invest Rs 5,000 crore to“transform” over 2 lakh unemployed youths into job creators.
In the budget speech, the minister said,“After adding the receipt of Rs 1,80,298.83 crore under the public account and Rs 2,000 crore under contingency fund, the aggregate receipts amount to Rs 3,21,742.71 crore.”
Taking into account the expenditure of Rs 1,79,326.48 crore under the public account and Rs 2,000 crore under contingency fund, the aggregate expenditure for the year is estimated at Rs 3,21,081.75 crore.”
Minister shared that the estimated transactions during the year will result in an estimated surplus of Rs 660.96 crore.
She added,“This, together with the opening deficit of Rs 1,596.19 crore will lead to a budget deficit of Rs 935.23 crore at the end of the year 2023-24.”
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