The Assam government on Thursday presented a Rs 3.22 lakh crore budget for the 2023-24 financial year, announcing funds for promoting micro-entrepreneurship and 40,000 fresh recruitments in different departments.

Presenting the budget in the assembly, Finance Minister Ajanta Neog said the government will invest Rs 5,000 crore over the next three years to "transform" over 2 lakh unemployed youths into job creators.

For the purpose, Rs 1,000 crore was allocated in the next fiscal.

Neog said 40,000 people will be recruited in various departments by May 10 to mark the completion of two years of the Himanta Biswa Sarma-led government and fulfil the BJP's poll promise of giving one lakh government jobs.         "Our government already provided employment to about 42,000 youths across various departments... The remaining 18,000 are at various stages of recruitment, and this will also be completed very soon," Neog said.

The finance minister proposed the exemption of electricity duty on renewable energy generation. "Further, I propose the extension of the tax holiday on agricultural income tax for the next three years."

Neog said the GSDP is estimated to grow to Rs 5.5 lakh crore during the next financial year from Rs 3.93 lakh crore in 2021-22.

The aggregate receipts amount to Rs 3,21,742.71 crore for 2023-24, while the aggregate expenditure is estimated at Rs 3,21,081.75 crore, she said.

Thus, the transactions during the year will result in an estimated surplus of Rs 660.96 crore, she said.

"This, together with the opening deficit of Rs 1,596.19 crore will lead to a budget deficit of Rs 935.23 crore at the end of the year 2023-24," she added.