(MENAFN- IANS) Guwahati, Feb 1 (IANS) Assam Chief Minister Himanta Biswa Sarma on Saturday asserted the Union Budget presented by Finance Minister Nirmala Sitharaman will expedite the growth of Assam along with bringing new opportunities for entrepreneurs in the state.
Sarma said: "Today's #ViksitBharatBudget2025 brings with it a new energy that will fuel Assam's growth trajectory, provide a new thrust for our entrepreneurs, strengthen our Kisan and plantation Economy and fulfill the aspirations of the middle class."
He also mentioned the scope of developments in Assam that could be brought about by this Union Budget.
"The announcement of a 12 lakh MT Urea factory in Namrup, will be the next big game changer for the state, after the Jagiroad Semiconductor facility. The approximately more than Rs 10,000 crore investment will allow Assam to channelise its natural gas resources into fertiliser manufacturing and help reduce India's dependency on the import of this key agricultural input. Needless to say, this factory also brings with it a significant number of jobs and export potential to the state.
"The Budget has an allocation of Rs 1.5 lakh crore in the form of 50 year interest free loans towards infrastructure development in states. This facility along with the enhanced devolution totaling to 44,494 crore will help accelerate and augment ongoing welfare works," he added.
According to the Chief Minister, the Union Budget has sent a clear message that will establish micro-enterprises and entrepreneurs as the growth engine of the nation's economy.
He stated: "This policy direction is in line with Assam's flagship focus on boosting entrepreneurship through schemes such as CM Atmanirbhar Asom Abhijan and Mahila Udyamita Asoni. The revision in classification of turnover and investment of MSMEs will provide a huge fillip to the backbone of Assam's economy by opening up more job opportunities and avenues to raise capital."
Sarma said that the Gramin Credit Score framework will also help serve the credit needs of Assam's vast SHG network, comprising over 30 lakh women.
The CM also hailed the announcement of huge tax relief in the Union budget. He said: "The income tax exemption up to 12 lakh is excellent news for middle class homes in Assam and across the country. This brings more money into the hands of our people, boost their savings and help grow the economy."
Meanwhile, the CM further stated that the Union Budget envisages adding 75,000 MBBS seats in the next 5 years.
He argued that this initiative complements Assam's own target of building 24 medical colleges by 2030.
Sarma moreover mentioned that the increased allocation under the National Disaster Relief Fund to Rs 12,048 crore and the National Disaster Mitigation Fund to Rs 3,102 crore from Rs 2,300 crore will significantly help in boosting Assam's efforts while dealing with disasters like floods.
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