Tax breaks and Rs 2,500 a month: What does Assam budget promise middle-class and new graduates?
Finance minister also expanded subsidies for the poor; state goes to polls next year
3 min read
Assam Chief Minister Himanta Biswa Sarma with Finance Minister Ajanta Neog and others before the presentation of the state Budget in the Legislative Assembly, in Guwahati, Assam. (PTI Photo)In the last full budget before next year’s Assam assembly elections, state Finance Minister Ajanta Neog announced professional tax exemption for those earning less than Rs 15,000 per month and new financial assistance programs for different groups, including graduates seeking jobs and tea garden workers.
Presenting the annual budget estimates for the financial year 2025-2026, Neog said, “To support our hardworking middle-class families, I propose exemption on professional tax for individuals earning up to Rs 15,000 per month under the Assam Profession, Trades, Callings, and Employments Taxation Act, 1947. This will benefit more than 1.43 lakh taxpayers/families and boost their purchasing capacity.”
Along with the expansion of existing state government schemes such as Orunodoi, Nijut Moina and Atma Nirbhar Asom Abhijan, Neog announced the launch of the Chief Minister’s Jibon Prerona scheme from October to provide Rs 2,500 per month to those graduating from government universities and colleges in Assam.
“In continued effort to empower our youth, we are committed to supporting graduates as they transit from education to employment. Recognising the challenges they face, we are introducing a financial assistance program to provide them with stability and encouragement during their job search period. This initiative is not an unemployment allowance but a motivational support to help them prepare for competitive exams, interviews, and entrepreneurial pursuits,” she said.
She also announced a one-time research grant of Rs 25,000 to research scholars of state and central government universities.
She announced that starting October this year, along with rice, NFSA ration card holders will receive subsidies on one kg each of masur dal (initially subsidised by Rs 25 per kg), sugar (subsidised by Rs 20 per kg) and salt (subsidised by Rs 10 per kg).
“The subsidy rate shall vary based on the price index of each commodity… This initiative ensures that every household has access to essential nutrition at an affordable cost. For this, I allocate an additional Rs 370 crore in this budget,” she said.
She also announced a one-time financial assistance of Rs 50,000 to each of the 6.8 lakh existing casual and permanent tea garden workers in the state “to extend our gratitude to the tea garden community of Assam”.
Other announcements include a reduction in electricity rate by Rs 1 per unit for domestic consumers who use less than 120 units a month, which is expected to benefit 48 lakh out of 68 lakh consumers. She also said that the government “will consider” restoring the old pension scheme for regular government employees whose recruitment process began before February 1, 2005, and increasing the remuneration of anganwadi and ASHA workers.
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