GUWAHATI: Presenting the 4th Assam Budget 2018-19 in the assembly, state finance minister Dr. Himanta Sarma stated that the revenue collection has increased and there is a 14% year-on-year growth in revenue.
This has been largely due to the implementation of GST from July 2017 that gave the state an assured 14% year-on-year growth in revenue.
The period 2016-17 saw a record increase in total revenue by 15.5% in 2016-17, with near 20% increase in the form of Tax Revenue.
The minister stated that the internal revenue generation in 2015-16 was so grim that annual growth in state taxes stood at around a meagre 2 per cent.
“Assam was fast becoming a state completely dependent on borrowings and funding by the government of India for its survival. Efforts for resource augmentation have been giving positive results. Revenue mobilisation efforts since 2016 have been quite impressive,” said Himanta Biswa Sarma in his budget speech.
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