Assam Unveils Green Budgeting in Landmark Financial Plan for FY 2024–25

The State Annual Financial Budget for the Financial Year 2024–25, presented in the Assam Assembly by Finance Minister Ajanta Neog on February 12, prominently features the innovative concept of Green Budgeting. The budget allocates Rs 4636.30 crore to 18 departments to implement green budgeting provisions. Panchayat & Rural Development receives the highest proposed budget of Rs 1396.80 crore for green budgeting initiatives. Green Budgeting, a tool for Public Finance Management (PFM), aims to align budgeting with climate and sustainability targets, efficiently allocating resources for climate change mitigation, adaptation, and environmental sustainability. Representing 10.02% of the total budget for 18 key departments, this initiative fosters a sustainable and resilient future in line with international and national commitments, including the United Nations’ Sustainable Development Goals (SDGs) and India’s Nationally Determined Contributions (NDCs) under the Paris Agreement. The detailed department-wise allocation for the Green Budget in FY 2024-25 is specified, ranging from Agriculture to Housing & Urban Affairs.