Assam Budget Analysis

2024-25
The Finance Minister of Assam, Ms. Ajanta Neog, presented the Budget for the state for the financial year 2024-25
on February 12, 2024.
Budget Highlights
▪ The Gross State Domestic Product (GSDP) of Assam for 2024-25 (at current prices) is projected to be Rs
6,43,089 crore, amounting to growth of 13% over 2023-24.
▪ Expenditure (excluding debt repayment) in 2024-25 is estimated to be Rs 1,36,699 crore, a decrease of
9% from the revised estimates of 2023-24. In addition, debt of Rs 7,192 crore will be repaid by the state.
▪ Receipts (excluding borrowings) for 2024-25 are estimated to be Rs 1,14,165 crore, a decrease of 5% as
compared to the revised estimate of 2023-24.
▪ Revenue surplus in 2024-25 is estimated to be 0.3% of GSDP (Rs 1,852 crore), as compared to a revenue
deficit of 0.2% of GSDP (Rs 1,396 crore) at the revised estimate stage in 2023-24. Assam had budgeted a
revenue surplus of 0.5% of GSDP in 2023-24.
▪ Fiscal deficit for 2024-25 is targeted at 3.5% of GSDP (Rs 22,534 crore). In 2023-24, as per the revised
estimates, fiscal deficit is expected to be 5.2% of GSDP, higher than the budgeted 3.7% of GSDP.
Policy Highlights
▪ Mukhya Mantri Nijut Moina: One-time incentives of Rs 10,000, Rs 12,500, and Rs 15,000 will be paid to 10
lakh girl students for joining class 11, graduation (first year), and post-graduation (first year), respectively. This
will be available for students taking admission in government colleges and institutions.
▪ Mukhya Mantri Mahila Udyamita Abhiyaan: A minimum amount of Rs 47,500 will be provided to each
woman member of self-help groups in rural and urban areas. This will be provided by a combination of grant,
subsidy, and loan.
▪ Mukhya Mantri Awaas Yojana (Gramin): Under the scheme, 13,000 houses each will be allocated to
eligible beneficiaries from tea garden communities and poorest of poor beneficiaries who were not included
under the socio-economic caste census.
▪ Rooftop solar: All new private and public buildings constructed in Assam will have to mandatorily install
rooftop solar facility.
▪ Farm mechanisation: The state government will distribute power tillers, tractors, threshers, and other farm
equipment to support agricultural activities.

Assam’s Economy Figure 1: Growth in Assam’s GSDP at

constant prices (2011-12)
▪ GSDP: In 2022-23, Assam’s GSDP (at constant
prices) is estimated to grow by 10.2% over the 20%
12.1%

11.5%

previous year. In comparison, India’s GDP is 15%

10.2%
9.7%
9.2%
8.5%

estimated to grow by 7.2% in 2022-23.

8.1%
7.8%
7.6%

7.6%

10%
5.1%

▪
4.2%

Sectors: In 2022-23, agriculture, manufacturing,

5%
1.2%

0.9%

and services sectors are estimated to contribute 35%,

19%, and 45% of Assam’s economy, respectively (at
0%
current prices).
▪ Per capita GSDP: In 2022-23, Assam’s per capita -5%
-4.1%

GSDP (at current prices) is estimated to be Rs -10%

-7.4%

1,36,819, an increase of 17% over 2021-22. In

2022-23, India’s per capita GDP is estimated to -15%
increase by 15% over 2021-22 to Rs 1,96,983. Agriculture Mfg Services GSDP
2019-20 2020-21 2021-22 2022-23
Note: These numbers are as per constant prices (2011-12)
which implies that the growth rate is adjusted for inflation.
Sources: MoSPI; PRS.

Tushar Chakrabarty
tushar@prsindia.org February 16, 2024
PRS Legislative Research ◼ Institute for Policy Research Studies
3rd Floor, Gandharva Mahavidyalaya ◼ 212, Deen Dayal Upadhyaya Marg ◼ New Delhi – 110002
Tel: (011) 2323 4801, 4343 4035 ◼ www.prsindia.org
 Assam Budget Analysis 2024-25 PRS Legislative Research

Budget Estimates for 2024-25

▪ Total expenditure (excluding debt repayment) in 2024-25 is targeted at Rs 1,36,699 crore. This is a
decrease of 9% from the revised estimate of 2023-24. This expenditure is proposed to be met through
receipts (excluding borrowings) of Rs 1,14,165 crore and net borrowings of Rs 22,249 crore. Total
receipts for 2024-25 (other than borrowings) are expected to register a decrease of 5% over the revised
estimate of 2023-24.
▪ The state estimates a revenue surplus of 0.3% of GSDP (Rs 1,852 crore) in 2024-25, as compared to a
revenue deficit of 0.2% of GSDP at the revised estimate stage of 2023-24. In 2022-23, Assam registered a
substantial revenue deficit of 2.4% of GSDP, as compared to a budgeted revenue surplus of 0.7% of GSDP.
This could have been due to Assam’s revenue receipts in 2022-23 being 10% lower than budget estimates,
but the revenue expenditure being 6% higher. Fiscal deficit for 2024-25 is targeted at 3.5% of GSDP (Rs
22,534 crore), lower than the revised estimates for 2023-24 (5.2% of GSDP).
Table 1: Budget 2024-25 - Key figures (in Rs crore)
% change from % change from
2022-23 2023-24 2023-24 2024-25
Items BE 23-24 to RE RE 23-24 to BE
Actuals Budgeted Revised Budgeted
23-24 24-25
Total Expenditure 1,27,283 1,39,755 1,69,966 22% 1,43,891 -15%
(-) Repayment of debt 7,331 4,407 19,916 352% 7,192 -64%
Net Expenditure (E) 1,19,952 1,35,348 1,50,050 11% 1,36,699 -9%
Total Receipts 1,18,017 1,39,444 1,65,216 18% 1,43,606 -13%
(-) Borrowings 28,270 25,052 44,821 79% 29,441 -34%
Net Receipts (R) 89,747 1,14,392 1,20,395 5% 1,14,165 -5%
Fiscal Deficit (E-R) 30,205 20,957 29,655 42% 22,534 -24%
as % of GSDP 6.1% 3.7% 5.2% 3.5%
Revenue Balance -12,072 2,748 -1,396 -151% 1,852 -233%
as % of GSDP -2.4% 0.5% -0.2% 0.3%
Primary Deficit 23,330 12,141 20,840 72% 12,937 -38%
as % of GSDP 4.7% 2.1% 3.7% 2.0%
GSDP 4,93,167 5,67,142 5,70,243 1% 6,43,089 13%
Note: BE is Budget Estimates; RE is Revised Estimates. Total expenditure in 2022-23 includes transfer of Rs 1,800 crore to the
contingency fund. Fiscal deficit figures are as reported by the state and have not been adjusted for loans given by the Centre for capital
expenditure.
Sources: Annual Financial Statement, Assam Budget Documents 2024-25; PRS.

Expenditure in 2024-25
▪ Revenue expenditure for 2024-25 is proposed to be
Rs 1,10,092 crore, a decrease of 7% from the revised Misclassification of grants-in-aid
estimate of 2023-24. This includes the expenditure
on salaries, pension, interest, grants, and subsidies. Grants-in-aid given by the state government must be
classified as revenue expenditure irrespective of their
▪ Capital outlay for 2024-25 is proposed to be Rs purpose. The CAG noted that in 2021-22, Assam classified
26,596 crore, a decrease of 15% from the revised grants-in-aid of Rs 6,169 crore as capital expenditure instead
estimate of 2023-24. At the revised estimate stage in of revenue expenditure. Accounting for this and other
transactions, Assam’s revenue deficit in 2021-22 was
2023-24, capital outlay is estimated to be 32% higher
understated by Rs 6,559 crore. The CAG observed that the
over the budget estimates. Capital outlay indicates state government has repeatedly classified disbursal of
the expenditure towards creation of assets. grants-in-aid as capital expenditure and has not taken any
▪ In 2023-24, loans and advances by the state are remedial action to correct the same.
expected to be Rs 11 crore, 95% lower as compared Sources: State Finances Audit Report of the CAG for the year ended
to the revised estimate of 2023-24. March 31, 2022; PRS.

Table 2: Expenditure budget 2024-25 (in Rs crore)

% change from % change from
2022-23 2023-24 2023-24 2024-25
Items BE 23-24 to RE RE 23-24 to BE
Actuals Budgeted Revised Budgeted
23-24 24-25
Revenue Expenditure 1,01,815 1,11,337 1,18,434 6% 1,10,092 -7%
Capital Outlay 15,998 23,822 31,399 32% 26,596 -15%
Loans given by the state 340 189 217 15% 11 -95%
Net Expenditure 1,18,152 1,35,348 1,50,050 11% 1,36,699 -9%
Sources: Annual Financial Statement, Assam Budget Documents 2024-25; PRS.

February 16, 2024 -2-

 Assam Budget Analysis 2024-25 PRS Legislative Research

Committed expenditure: Committed expenditure of a state typically includes expenditure on payment of

salaries, pension, and interest. A larger proportion of budget allocated for committed expenditure items limits
the state’s flexibility to decide on other expenditure priorities such as capital outlay. In 2024-25, Assam is
estimated to spend Rs 63,808 crore on committed expenditure, which is 57% of its estimated revenue receipts.
This comprises spending on salaries (33% of revenue receipts), pension (16%), and interest payments (9%). In
2022-23, as per actual figures, 60% of revenue receipts were spent towards committed expenditure.
Table 3: Committed Expenditure in 2024-25 (in Rs crore)
% change from % change from
2022-23 2023-24 2023-24 2024-25
Committed Expenditure BE 23-24 to RE RE 23-24 to BE
Actuals Budgeted Revised Budgeted
23-24 24-25
Salaries 30,868 41,040 - - 36,399 -
Pension 16,407 16,209 16,209 0% 17,811 10%
Interest payment 6,875 8,815 8,815 0% 9,597 9%
Committed Expenditure 54,150 66,064 - - 63,808 -
Sources: Annual Financial Statement, Assam Budget Documents 2024-25; PRS.

Sector-wise expenditure: The sectors listed below account for 60% of the total expenditure on sectors by the
state in 2024-25. A comparison of Assam’s expenditure on key sectors with that by other states is shown in
Annexure 1.
Table 4: Sector-wise expenditure under Assam Budget 2024-25 (in Rs crore)
2022-23 2023-24 2023-24 2024-25 % change from
Sectors RE 23-24 to Budget Provisions (2024-25)
Actuals BE RE BE BE 24-25
▪ Rs 6,650 crore has been allocated for government
Education, Sports, primary schools.
19,810 22,766 25,926 23,227 -10%
Arts, and Culture ▪ Rs 5,884 crore has been allocated for assistance to
non-government secondary schools.
▪ Rs 3,800 crore has been allocated for Orunodoi
Social Welfare and scheme.
7,051 10,042 11,723 11,088 -5%
Nutrition
▪ Rs 1,792 crore has been allocated for child welfare.
▪ Rs 8,166 crore has been allocated for capital outlay on
Transport 9,847 13,261 13,321 10,146 -24%
roads and bridges.
▪ Rs 3,782 crore has been allocated for Rural Health
Health and Family Services – Allopathy.
6,876 7,506 8,242 8,399 2%
Welfare ▪ Rs 1,157 crore has been allocated for Urban Health
Services – Allopathy.
Police 5,206 7,894 8,482 7,121 -16% ▪ Rs 3,359 crore has been allocated for district police.
▪ Rs 1,437 crore has been allocated for crop husbandry
Agriculture and – horticulture.
4,138 5,460 6,229 6,091 -2%
Allied Activities ▪ Rs 1,349 crore has been allocated for forestry and
wildlife.
▪ Rs 1,421 crore has been allocated for NREGS.
Rural Development 5,376 5,619 5,640 5,121 -9%
▪ Rs 569 crore has been allocated for Panchayati Raj.
Irrigation and Flood ▪ Rs 1,586 crore has been allocated for capital outlay on
2,532 2,892 2,977 3,859 30%
Control flood control projects.
Welfare of SC, ST, ▪ Rs 2,678 crore has been allocated for welfare of
3,182 3,639 3,678 3,402 -7%
OBC, and Minorities scheduled tribes.
▪ Rs 1,240 crore has been allocated for integrated
Urban Development 2,762 4,083 4,805 3,127 -35%
development of small and medium towns.
% of total
expenditure on all 57% 62% 61% 60%
sectors
Sources: Annual Financial Statement, Assam Budget Documents 2024-25; PRS.

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 Assam Budget Analysis 2024-25 PRS Legislative Research

Receipts in 2024-25
▪ Total revenue receipts for 2024-25 are estimated to be Rs 1,11,944 crore, a decrease of 4% from the
revised estimate of 2023-24. Of this, Rs 43,020 crore (38%) will be raised by the state through its own
resources, and Rs 68,924 crore (62%) will come from the centre. Resources from the centre will be in the
form of state’s share in central taxes (36% of revenue receipts) and grants (26% of revenue receipts).
▪ Devolution: In 2024-25, state’s share in central taxes is estimated at Rs 40,000 crore, an increase of 16%
over the revised estimate of 2023-24.
▪ Grants from the centre in 2024-25 are estimated at Rs 28,924 crore, a decrease of 36% from the revised
estimates for 2023-24. In 2024-25, grants for centrally sponsored schemes and finance commission grants
are seen to be 26% and 53% lower respectively as compared to the revised estimates of 2023-24.
▪ State’s own tax revenue: Assam’s total own tax revenue is estimated to be Rs 34,148 crore in 2024-25, an
increase of 13% over the revised estimate of 2023-24. Own tax revenue as a percentage of GSDP is
estimated at 5.3% in 2024-25, same as the revised estimates for 2023-24. As per the actual figures for
2022-23, own tax revenue as a percentage of GSDP was 5%.
Table 5: Break-up of the state government’s receipts (in Rs crore)
% change from % change from
2022-23 2023-24 2023-24 2024-25
Items BE 2023-24 to RE 2023-24 to
Actuals Budgeted Revised Budgeted
RE 2023-24 BE 2024-25
State's Own Tax 24,502 30,002 30,113 0% 34,148 13%
State's Own Non-Tax 5,761 7,011 7,124 2% 8,871 25%
Share in Central Taxes 29,694 31,951 34,549 8% 40,000 16%
Grants-in-aid from Centre 29,785 45,121 45,253 0% 28,924 -36%
Revenue Receipts 89,742 1,14,085 1,17,038 3% 1,11,944 -4%
Non-debt Capital Receipts 5 307 3,357 10 2,221 -34%
Net Receipts 89,747 1,14,392 1,20,395 5% 1,14,165 -5%
Note: BE is Budget Estimates; RE is Revised Estimates.
Sources: Annual Financial Statement, Assam Budget Documents 2024-25; Arrears of Revenue
PRS.
Arrears of revenue indicate delayed realisation of revenue
▪ In 2024-25, State GST is estimated to be the largest due to the government. It deprives the state of potential
source of own tax revenue (50% share). State GST revenue receipts. The CAG noted that as on March 31,
revenue is estimated to increase by 14% over the revised 2022, Assam’s revenue arrears were Rs 4,399 crore. Out of
estimates of 2023-24. this, Rs 3,128 crore has been in arrears for more than five
years. The highest amount of Rs 2,847 crore pertains to
▪ Revenue from Sales tax/ VAT in 2024-25 is expected at a land revenue followed by Rs 1,365 crore in arrears against
level similar to the revised estimate stage of 2023-24. In sales tax/ VAT. The CAG noted that clearance of arrears
2023-24, revenue from sales/ VAT is seen to be 12% would need focused efforts by the concerned departments
higher at the revised estimate stage as compared to the along with other entities such as banks, police, and judicial
budget estimates. bodies involved in the process.

▪ Revenue from state excise is estimated to be 35% higher Sources: State Finances Audit Report of the CAG for the year ended
March 31, 2022; PRS.
in 2024-25 over the revised estimate of 2023-24.

Table 6: Major sources of state’s own-tax revenue (in Rs crore)

% change from % change from
2022-23 2023-24 2023-24 2024-25
Head BE 23-24 to RE RE 23-24 to BE
Actuals Budgeted Revised Budgeted
23-24 24-25
State GST 12,564 15,668 15,077 -4% 17,238 14%
Sales Tax/ VAT 6,749 7,743 8,688 12% 8,718 0%
State Excise 2,526 3,000 3,031 1% 4,101 35%
Taxes on Vehicles 1,348 1,445 1,738 20% 2,198 26%
Stamps Duty and Registration Fees 852 821 1,022 24% 1,226 20%
Land Revenue 159 682 190 -72% 228 20%
Taxes and Duties on Electricity 88 399 105 -74% 126 20%
GST Compensation Grants 424 930 930 0% 0 -100%
GST Compensation Loans 0 0 0 - 0 -
Sources: Annual Financial Statement, Revenue Budget, Assam Budget Documents 2024-25; PRS.
February 16, 2024 -4-
 Assam Budget Analysis 2024-25 PRS Legislative Research

Deficits, Debt, and FRBM Targets for 2024-25

The Assam Fiscal Responsibility and Budget Management Act, 2005 provides annual targets to progressively
reduce the outstanding debt, revenue deficit and fiscal deficit of the state government.
Revenue balance: It is the difference of revenue expenditure and revenue receipts. A revenue deficit implies that
the government needs to borrow to finance those expenses which do not increase its assets or reduces its liabilities.
The budget estimates a revenue surplus of Rs 1,852 crore (or 0.3% of the GSDP) in 2024-25.
Fiscal deficit: It is the excess of total expenditure Assam’s Debt Sustainability
over total receipts. This gap is filled by borrowings by
the government and leads to an increase in total According to the RBI, a state’s debt is considered
liabilities. In 2024-25, the fiscal deficit is estimated to sustainable when: (i) the rate of growth of public debt is
lower than the growth rate of nominal GSDP and (ii) the
be 3.5% of GSDP. For 2024-25, the central growth rate of GSDP is higher than the effective interest rate.
government has permitted fiscal deficit of up to 3.5% Between 2017-18 and 2020-21, Assam’s total outstanding
of GSDP to states, of which 0.5% of GSDP will be debt increased at a rate faster than the growth of its nominal
available upon carrying out certain power sector GSDP. This trend reversed in 2021-22, however, in 2022-
reforms. As per the revised estimates, in 2023-24, the 23, outstanding debt increased at 22% while nominal GSDP
fiscal deficit of the state is expected to be 5.2% of growth is seen at 20%. There has also been an increase in
GSDP. This is higher than the budget estimate of the ratio of Assam’s interest payments to revenue receipts.
3.7% of GSDP. Fiscal deficit is projected to be This increased from 5.9% in 2017-18 to 7.7% in 2022-23.
As per budget estimates of 2024-25, interest payments to
lowered to 1.4% of GSDP by 2029-30.
revenue receipts ratio is seen at 8.6%.
Outstanding debt: Outstanding debt is the
accumulation of total borrowings at the end of a financial year. At the end of 2024-25, the outstanding debt is
estimated to be 25.2% of GSDP, higher than the budget estimate for 2023-24 (24.4% of GSDP).
Figure 2: Revenue and Fiscal Balance (% of GSDP) Figure 3: Outstanding Debt (as % of GSDP)
6% 30.0%
5% 24.4% 24.4% 25.2% 24.6% 23.9%
4% 25.0% 23.0% 23.5% 23.3% 22.7%
22.1%
3% 1.6%
2% 1.0% 1.4% 19.3%
1% 0.4% 0.3% 0.4% 0.7% 20.0%
0%
-1% -0.2% -0.2% 15.0%
-0.4%
-2%
-3% -1.7% -1.4%
-2.4% -2.2% 10.0%
-4% -3.3% -3.0% -2.6%
-3.5%
-5% -4.3% -4.4% 5.0%
-6% -5.2%
-7% -6.1%
0.0%
2019-20
2020-21

2022-23

2025-26*
2026-27*
2027-28*
2028-29*
2029-30*
2024-25 BE
2023-24 RE
2021-22

2025-26*
2026-27*
2027-28*
2028-29*
2029-30*
2019-20
2020-21

2022-23
2023-24 BE
2024-25 BE
2021-22

Revenue Balance Fiscal Balance

Note: *Figures for 2025-26 onwards are projections. BE is budget
Note: *Figures from 2025-26 onwards are projections. RE is estimates. Negative figures indicate a deficit.
Revised Estimates; BE is budget estimates. Negative figures indicate Sources: Medium Term Fiscal Policy, Assam Budget Documents
a deficit. 2024-25; PRS.
Sources: Medium Term Fiscal Policy, Assam Budget Documents
2024-25; PRS.

Outstanding Government Guarantees: Outstanding debt of states do not include a few other liabilities that are
contingent in nature, which states may have to honour in certain cases. State governments guarantee the
borrowings of State Public Sector Enterprises (SPSEs) from financial institutions. As of March 31, 2023, the
state’s outstanding guarantee is estimated to be Rs 1,167 crore, which is 0.2% of Assam’s GSDP in 2022-23.

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February 16, 2024 -5-

 Assam Budget Analysis 2024-25 PRS Legislative Research

Annexure 1: Comparison of states’ expenditure on key sectors

The graphs below compare Assam’s expenditure in 2024-25 on six key sectors as a proportion of its total
expenditure on all sectors. The average for a sector indicates the average expenditure in that sector by 31 states
(including Assam) as per their budget estimates of 2023-24.1
▪ Education: Assam has allocated 17% of its expenditure on education in 2024-25. This is higher than the
average allocation for education by states in 2023-24 (14.7%).
▪ Health: Assam has allocated 6.1% of its total expenditure towards health, which is broadly similar to the
average allocation for health by states (6.2%).
▪ Rural development: Assam has allocated 3.7% of its expenditure on rural development. This is lower
than the average allocation for rural development by states (5%).
▪ Roads and bridges: Assam has allocated 7% of its expenditure towards roads and bridges. This is higher
than the average allocation towards roads and bridges by states (4.6%).
▪ Agriculture: Assam has allocated 4.5% of its total expenditure towards agriculture. This is lower than the
average expenditure on agriculture by states (5.9%).
▪ Irrigation: Assam has allocated 2.8% of its total expenditure towards irrigation, which is lower than the
average allocation by states (3.4%).

Spending on education as a Spending on health as a % of Spending on rural

% of total expenditure total expenditure development as a % of total
expenditure
20% 16.8% 16.8% 17.3% 17.0% 8%
14.7% 5.8% 5.6% 5.5% 6.1% 6.2% 6% 5.0%
15% 6% 4.6%
4.2% 3.8%
3.7%
4%
10% 4%

5% 2% 2%

0% 0% 0%
2022-23

2023-24 (RE)

2024-25 (BE)

Average of all states

2023-24 (BE)
2022-23

2023-24 (RE)
2023-24 (BE)

2024-25 (BE)
Average of all states

2022-23

2023-24 (RE)
2023-24 (BE)

2024-25 (BE)

states (2023-24 BE)

(2023-24 BE)

Average of all
(2023-24 BE)

Spending on roads and Spending on agriculture as a Spending on irrigation as

bridges as a % of total % of total expenditure a % of total budget
expenditure
8% 4% 3.4%
10% 9.3% 5.9%
7.9% 8.3% 2.8%
7.0% 6% 3%
8% 4.0% 4.2% 4.5% 2.1% 2.1% 2.0%
3.5%
6% 4.6% 4% 2%
4% 2% 1%
2%
0% 0%
0%
2022-23

2023-24 (RE)

2024-25 (BE)

Average of all states

2023-24 (BE)

2022-23

2023-24 (RE)
2023-24 (BE)

2024-25 (BE)
Average of all states
2022-23

2023-24 (RE)
2023-24 (BE)

Average of all states

2024-25 (BE)

(2023-24 BE)

(2023-24 BE)
(2023-24 BE)

Note: 2022-23, 2023-24 (BE), 2023-24 (RE), and 2024-25 (BE) figures are for Assam.
Sources: Annual Financial Statement, Assam Bengal Budget Documents 2024-25; various state budgets; PRS.

1
The 31 states include the Union Territories of Delhi, Jammu and Kashmir, and Puducherry.

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 Assam Budget Analysis 2024-25 PRS Legislative Research

Annexure 2: Comparison of 2022-23 Budget Estimates and Actuals

The following tables compare the actuals of 2022-23 with budget estimates for that year.

Table 7: Overview of Receipts and Expenditure (in Rs crore)

Particular 2022-23 BE 2022-23 Actuals % change from BE to Actuals
Net Receipts (1+2) 99,674 89,747 -10%
1. Revenue Receipts (a+b+c+d) 99,663 89,742 -10%
a. Own Tax Revenue 22,385 24,502 9%
b. Own Non-Tax Revenue 6,677 5,761 -14%
c. Share in central taxes 25,545 29,694 16%
d. Grants-in-aid from the Centre 45,056 29,785 -34%
Of which GST compensation grants 930 424 -54%
2. Non-Debt Capital Receipts 12 5 -57%
3. Borrowings 19,354 28,270 46%
Of which GST compensation loan 0 0 -
Net Expenditure (4+5+6) 1,15,028 1,18,152 3%
4. Revenue Expenditure 96,367 1,01,815 6%
5. Capital Outlay 18,371 15,998 -13%
6. Loans and Advances 290 340 17%
7. Debt Repayment 2,723 7,331 169%
Revenue Balance 3,295 -12,072 -466%
Revenue Balance (as % of GSDP) 0.7% -2.4%
Fiscal Deficit 15,354 30,205 97%
Fiscal Deficit (as % of GSDP) 3.2% 6.1%
Source: Assam Budget Documents of various years; PRS.

Table 8: Key Components of State's Own Tax Revenue

Tax Source/Head 2022-23 BE 2022-23 Actuals % change from BE to Actuals
Taxes and Duties on Electricity 288 88 -69%
Land Revenue 264 159 -40%
State Excise 2,412 2,526 5%
State GST 11,884 12,564 6%
Taxes on Vehicles 1,245 1,348 8%
Sales Tax/ VAT 5,553 6,749 22%
Stamps Duty and Registration Fees 524 852 62%
Source: Assam Budget Documents of various years; PRS.

Table 9: Allocation towards Key Sectors

Sector 2022-23 BE 2022-23 Actuals % change from BE to Actuals
Urban Development 3,731 2,762 -26%
Police 6,921 5,206 -25%
Agriculture and Allied Activities 5,270 4,138 -21%
Education, Sports, Arts, and Culture 23,095 19,810 -14%
Water Supply and Sanitation 1,568 1,381 -12%
Irrigation and Flood Control 2,778 2,532 -9%
Health and Family Welfare 7,516 6,876 -9%
Transport 9,644 9,847 2%
of which Roads and Bridges 9,145 9,265 1%
Energy 1,834 1,934 5%
Welfare of SC, ST, OBC, and Minorities 2,953 3,182 8%
Rural Development 4,145 5,376 30%
Social Welfare and Nutrition 4,151 7,051 70%
Housing 4,048 12,926 219%
Source: Assam Budget Documents of various years; PRS.

February 16, 2024 -7-