The Assam government on Friday (July 16) put forward a Rs 566 crore deficit budget for 2021-22 in the assembly. Notably, it has not proposed any new tax on the public.
While reading out the budgetary proposals, as per reports, Ajanta Neog, the first-ever woman finance minister of Assam said that she is following the footsteps of her predecessor who had decided not to tax the public in his budgets. Sarma was the finance minister in the previous Sarbananda Sonowal government.
Neog reportedly said that during the last fiscal, the Tax Department's collection declined to Rs 14,645 crore from Rs 14,967 crore in the previous financial year due to ''economic slowdown'' on account of the COVID-19 pandemic,
Presenting the Budget estimates, she said the aggregate income has been calculated to be Rs 2,89,770.68 crore for 2021-22, while the total expenditure for the fiscal is estimated at Rs 2,89,367.10 crore. 'Thus, estimated transactions during the year will result in an estimated surplus of Rs 403.58 crore. This, together with the opening deficit of Rs 969.78 crore will lead to a budget deficit of Rs 566.20 crore at the end of the year 2021-22,'' she said.
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