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Assam Budget 2024-25 – Highlights and Analysis

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Highlights of Assam Budget 2024-25 – Detailed Analysis and Important Points

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Highlights of Assam Budget 2024-25

Assam Finance Minister, Ms. Ajanta Neog presented the state’s ₹774.47 cr deficit annual Budget for the financial year 2024-25 on February 12, 2024. With no new taxes proposed,  Neog mentioned that the total budget for the coming financial year will be ₹2.9 lakh crore.

Budget estimates for 2024-25 show receipt of ₹143,605.56 crore under consolidated fund of the state. With receipt of ₹144,550.08 crore under public account and ₹2,000 crore from contingency fund, the aggregate receipts amount to ₹290,155.65 crore. The minister mentioned that total expenditure from the consolidated fund in 2024-25 is estimated at ₹143,890.62 crore.

Important Policies/Yojana announced in Assam Budget 2024-25

Punya Tirtha Yojana: Among the budget’s key highlights was the announcement of Punya Tirtha Yojana scheme to send 25,000 pilgrims to visit the Ram Mandir at Ayodhya, with an earmarked budget of ₹25 crore.

Mukhya Mantri Nijut Moina: The government will support 10 lakh girls with financial grants as admission incentives for their higher education. Each girl student who joins class 11 will receive One-time incentives of ₹10,000 and those joining first year of graduation will be given ₹12,500. One-time incentives of Rs 15,000 will be paid to 10 lakh girl students for joining post-graduation (first year). This will be available for students taking admission in government colleges and institutions. A total outlay of ₹240 crore has been allocated for this in the budget. Aimed at eliminating child marriages, the incentive is only for unmarried girls who study in any government-run educational institution.

Mukhya Mantri Mahila Udyamita Abhiyaan: A minimum amount of Rs 47,500 will be provided to each woman member of self-help groups in rural and urban areas. This will be provided by a combination of grant, subsidy, and loan.

Mukhya Mantri Awaas Yojana (Gramin): 13,000 houses each will be allocated to eligible beneficiaries from tea garden communities and poorest of poor beneficiaries who were not included under the socio-economic caste census.

Rooftop solar: All new private and public buildings constructed in Assam will have to mandatorily install rooftop solar facility.

Farm mechanisation: The state government will distribute power tillers, tractors, threshers, and other farm equipment to support agricultural activities.

Social Equity in Government Recruitment: To bring social equity in Govt recruitment for all grade III and grade IV posts without compromising the quality of selection, from the 2024-25 fiscal, the government will provide 5% weightage in total marks to job applicants from families without any member in government service.

Safeguard for iconic sites: Budget proposals included bringing in legislation to ensure that the land surrounding “iconic and heritage locations” in Barpeta, Batadrava, Majuli, and Narayanpur is transferred only to indigenous persons or institutions. The move is to “safeguard the cultural significance” of these places.

Mukhya Mantri Sangrahalaya: The government has also decided to set up ‘Mukhya Mantri Sangrahalaya’ in Guwahati to document the legacies of all former Chief Ministers of the State.

 

ASHTADASH MUKUTOR UNNOYONEE MAALA:

Flagship Schemes 2024-25

  • Mukhya Mantri Nijut Moina (MMNM)
  • Mukhya Mantri Mahila Udyamita Abhiyaan
  • Orunodoi 2.0 – Expanding and More Inclusive
  • Assam Micro Finance Incentive and Relief Scheme – Category III 
  • Chief Minister’s Atmanirbhar Assam Abhijan
  • One Lakh Plus Jobs
  • Projects for Amrit Kaal
  • Creating Growth Corridors
  • Mukhya Mantri Awaas Yojana (Gramin)
  • Innovative integration of wetlands with River Brahmaputra
  • Green Growth for Greener Assam
  • Welfare of Tea Tribe Community 
  • Quest for Cultural Identity
  • Punya Tirth Yojana – Ayodhya Pilgrimage
  • Future for Children
  • Khel Maharan and Youth Clubs in 126 LACs 
  • Global Investors’ Summit in November, 2024 
  • Mukhya Mantri Sangrahalaya

 

Major Announcements for FY 2024-25

  • Reservation for Agniveers in Assam Police 
  • Self-sufficiency in egg, milk and fish production 
  • Promotion of small tea growers
  • Start-up Mission 
  • Setting up of Training Centre at Padmashree Hemaprova Chutia’s residence 
  • PM Vishwakarma Yojana 
  • Farm Mechanization 
  • Rooftop solarisation 
  • Climate Action 
  • Amrit-Guwahati Integrated Global City (Amrit-GiG City)
  • Ayushman Asom : A comprehensive healthcare initiative 
  • Comprehensive School health Programme under Chief Minister’s Ayushman Asom 
  • Village and Community Outreach Programme for MBBS Students in Assam under Chief Minister’s Ayushman Asom 
  • Championing Digital Transformation & Artificial Intelligence 
  • Gyan-Dhara – Integrating virtual reality technology with for experiential learning 
  • Third Assam Bhawan in New Delhi 
  • Standing with our employees – Apun Ghar, Apun Bahan 
  • Supporting the Employees of Different Societies (Ex-Gratia) 
  • Jeevika Sakhi Express 
  • Monthly remuneration to honorary Gaon Pradhans in the Forest areas 

 

Expenditures & Receipts of Govt of Assam

  • Expenditure (excluding debt repayment) in 2024-25 is estimated to be Rs 1,36,699 crore, a decrease of 9% from the revised estimates of 2023-24. In addition, debt of Rs 7,192 crore will be repaid by the state.
  • Receipts (excluding borrowings) for 2024-25 are estimated to be Rs 1,14,165 crore, a decrease of 5% as compared to the revised estimate of 2023-24.
  • Revenue surplus in 2024-25 is estimated to be 0.3% of GSDP (Rs 1,852 crore), as compared to a revenue deficit of 0.2% of GSDP (Rs 1,396 crore) at the revised estimate stage in 2023-24. Assam had budgeted a revenue surplus of 0.5% of GSDP in 2023-24.
  • Fiscal deficit for 2024-25 is targeted at 3.5% of GSDP (Rs 22,534 crore). In 2023-24, as per the revised estimates, fiscal deficit is expected to be 5.2% of GSDP.

 

Receipts in 2024-25 

  • Total revenue receipts for 2024-25 are estimated to be Rs 1,11,944 crore. Of this, Rs 43,020 crore (38%) will be raised by the state through its own resources, and Rs 68,924 crore (62%) will come from the centre. Resources from the centre will be in the form of state’s share in central taxes (36% of revenue receipts) and grants (26% of revenue receipts). 
  • Devolution: In 2024-25, state’s share in central taxes is estimated at Rs 40,000 crore.
  • Grants from the centre in 2024-25 are estimated at Rs 28,924 crore.

 

Assam’s own tax revenue


Assam’s total own tax revenue is estimated to be Rs 34,148 crore in 2024-25, an increase of 13% over the revised estimate of 2023-24. Own tax revenue as a percentage of GSDP is estimated at 5.3% in 2024-25, same as the revised estimates for 2023-24. As per the actual figures for 2022-23, own tax revenue as a percentage of GSDP was 5%.

In 2024-25, State GST is estimated to be the largest source of own tax revenue (50% share).

 

Assam’s expenditure on key sectors

  • Education: Assam has allocated 17% of its expenditure on education in 2024-25. This is higher than the average allocation for education by states in 2023-24 (14.7%). 
  • Health: Assam has allocated 6.1% of its total expenditure towards health, which is broadly similar to the average allocation for health by states (6.2%). 
  • Rural development: Assam has allocated 3.7% of its expenditure on rural development. This is lower than the average allocation for rural development by states (5%). 
  • Roads and bridges: Assam has allocated 7% of its expenditure towards roads and bridges. This is higher than the average allocation towards roads and bridges by states (4.6%). 
  • Agriculture: Assam has allocated 4.5% of its total expenditure towards agriculture. This is lower than the average expenditure on agriculture by states (5.9%). 
  • Irrigation: Assam has allocated 2.8% of its total expenditure towards irrigation, which is lower than the average allocation by states (3.4%).

 

Deficits, Debt, and FRBM Targets for 2024-25

The Assam Fiscal Responsibility and Budget Management Act, 2005 provides annual targets to progressively reduce the outstanding debt, revenue deficit and fiscal deficit of the state government. 

Revenue balance: It is the difference of revenue expenditure and revenue receipts. A revenue deficit implies that the government needs to borrow to finance those expenses which do not increase its assets or reduces its liabilities. The budget estimates a revenue surplus of Rs 1,852 crore (or 0.3% of the GSDP) in 2024-25. 

Fiscal deficit: It is the excess of total expenditure over total receipts. This gap is filled by borrowings by the government and leads to an increase in total liabilities. In 2024-25, the fiscal deficit is estimated to be 3.5% of GSDP. For 2024-25, the central government has permitted fiscal deficit of up to 3.5% of GSDP to states, of which 0.5% of GSDP will be available upon carrying out certain power sector reforms. As per the revised estimates, in 2023-24, the fiscal deficit of the state is expected to be 5.2% of GSDP. This is higher than the budget estimate of 3.7% of GSDP. Fiscal deficit is projected to be lowered to 1.4% of GSDP by 2029-30. 

Outstanding debt: Outstanding debt is the accumulation of total borrowings at the end of a financial year. At the end of 2024-25, the outstanding debt is estimated to be 25.2% of GSDP, higher than the budget estimate for 2023-24 (24.4% of GSDP).

Outstanding Government Guarantees: Outstanding debt of states do not include a few other liabilities that are contingent in nature, which states may have to honour in certain cases. State governments guarantee the borrowings of State Public Sector Enterprises (SPSEs) from financial institutions. As of March 31, 2023, the state’s outstanding guarantee is estimated to be Rs 1,167 crore, which is 0.2% of Assam’s GSDP in 2022-23.

 

GREEN BUDGETING

Green Budgeting is a Public Finance Management (PFM) tool to enable evidence and output based budgeting towards achieving climate and sustainability targets allowing for effi cient resource allocation towards Climate Change mitigation, adaptation, and environment sustainability. 

A Green Budget contributes to achieving various Sustainable Development Goals (SDGs), such as SDG 13 (Climate Action), SDG 11 (Sustainable Cities and Communities), SDG 7 (Aff ordable and Clean Energy), and other SDGs, fostering a more sustainable and resilient future in line with the United Nations’ Sustainable Development Goals (SDGs) and India’s Nationally Determined Contributions (NDCs) under the Paris Agreement and other national and state commitments. Green Budget share is 10.02% of total budget of 18 key departments amounting to Rs. 4636 Crore in FY 2024-25.

 

Highlights of Assam Economy 2024

The Gross State Domestic Product (GSDP) of Assam for 2024-25 (at current prices) is projected to be Rs. 6,43,089 crore, amounting to growth of 13% over 2023-24.

In 2022-23, Assam’s GSDP (at constant prices) is estimated to grow by 10.2% over the previous year. In comparison, India’s GDP is estimated to grow by 7.2% in 2022-23.

Sectors contribution: In 2022-23, agriculture, manufacturing, and services sectors are estimated to contribute 35%, 19%, and 45% of Assam’s economy, respectively (at current prices).

Per capita GSDP: In 2022-23, Assam’s per capita GSDP (at current prices) is estimated to be Rs 1,36,819, an increase of 17% over 2021-22. In 2022-23, India’s per capita GDP is estimated to increase by 15% over 2021-22 to Rs 1,96,983.

Important MCQ Questions on Assam Budget 2022-23

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Earlier Assam Budgets

Study Materials & Notes | Assam Current Affairs | Assam Current Affairs Quiz

Union Budget 2023-24: Provisions & Fund Allocation for Assam and North East India

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Union Budget 2023-24 – Fund Allocation & Provisions for Assam and North East India

 

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On February 21, 2023, Union Finance Minister Nirmala Sitharaman presented the Union Budget 2023, which has provided much higher outlays for the Ministry of Development of North Eastern Region (MDoNER) during the Financial Year 2023-24.

With the objective of seeking a significant impact in the North Eastern Region (NER), emphasis has been laid on enhancing capital expenditure in the NE Region. By way of devolution Northeast India will get Rs 78,500 Crore. For flagship schemes the budget has allocated Rs 5000 Crore more this year.

  • Enhanced outlays are provided towards supporting the initiatives with special focus for the ST and SC communities; and the livelihoods of the women and the youth in NE Region.
  • There have been significant increases in the MDoNER Scheme-wise outlays also, that will increase the impact in infrastructure, social-development and livelihood sectors in the NER.
  • The quantum of funds to be earmarked by the various Central Ministries / Departments in the NER as per the 10% Gross Budgetary Support (GBS) stipulations have also been significantly enhanced.
  • Some of the major ongoing infrastructure projects in NER such as Capital Connectivity Roads and Rail-Lines, Air Connectivity, Power, Telecom, Petroleum & Natural Gas etc. are financed under 10% GBS.

Some of the announcements related to the Ministry of Development of North Eastern Region (DoNER) are: 

  • There is a step-jump in the budget outlay for the MDoNER during the Financial Year 2023-24. The total B.E. 2023-2024 allocation is Rs. 5892.00 crore; well over twice (~114% higher than) the RE 2022-23 allocation of Rs. 2755.05 crore.
  • Out of this, Rs 4093.25 crore (~70%) is provided for Capital expenditure. In addition, Rs. 1,324.03 crore further from within the amount of Rs. 1,798.75 crore provided for Revenue Expenditure is as grants for creation of capital assets.
  • This is tantamount to provisioning of Rs. 5,417.28 crore (~92%) out of Rs. 5,892.00 crores as B.E. 2023-24 outlay for MDoNER towards expenditure of capital nature.  
  • The total B.E. 2023-2024 allocation for the infrastructure targeted North East Special Infrastructure Development (NESID) Scheme is Rs. 2,491.00 crore; well over (~67% higher than) the RE 2022-23 allocation of Rs. 1,493.30 crore.
  • The total B.E. 2023-2024 allocation for the infrastructure, social development and livelihoods targeted Prime Ministers Development Initiative for North-East (PMDevINE) Scheme is Rs. 2,200.00 crore; four and a half times the RE 2022-23 allocation of Rs. 400.00 crore. PM-DevINE was announced in the union budget to address developmental gaps in the northeastern region.
  • The total B.E. 2023-2024 allocation for the overall wholistic development, social infrastructure and social development targeted Schemes of North Eastern Council (NEC) is Rs. 800.00 crore ; (~20% higher than) the RE 2022-23 allocation of Rs. 666.87 crore. 
  • As per Expenditure Profile of Union Budget 2023-24 Statement-11, the 10% GBS share for the NER comes to Rs. 94,679.53 (~31% higher than) the RE 2022-23 allocation of Rs. 72.540.28 crore under 10% GBS share of the 55 non-exempt Ministries / Departments.
  • The allocation for Tribal Sub Plan (TSP) out of the B.E. outlay for 2023-24 has been enhanced to Rs. 1690.00 crore or over twice (~101% higher than) the RE 2022-23 allocation of Rs. 839.95 crore for TSP. 
  • The allocation for Scheduled Caste Sub Plan (SCSP) out of the B.E. outlay for 2023-24 has been enhanced to Rs. 488.00 crore or nearly one and a half times (~48% higher than) the RE 2022-23 allocation of Rs. 330.54 crore for SCSP.
  • In comparison to the actual expenditure of Rs. 24,819.18 crore in 2014-15, the B.E. 2023-24 provision for 10% GBS shows an increase of Rs. 71,860.35 crore ; nearly thrice ( ~281% higher than) the actual expenditure in 2014-15.
  • In aggregate,  a total of Rs. 3,37,000 crore was spent in the period from 2014-15 to 2021-22. Together with the anticipated expenditures of Rs. 72,540.28 crore in 2022-23 and Rs. 94,679.53 crore in 2023-24, the aggregate expenditure in NER under the 10% GBS stipulation is likely to reach Rs. 5,00,000 crore in the decade from 2014-15 to 2023-24.
  • For the first time an amount of Rs 1.20 lakh crore has been earmarked for connecting the hilly and border areas of the region.

 

Read Highlights of Union Budget 2023-24

 

Funds for Railway Development in Assam & North East States

Adequate fund has been allotted for the overall development of railway infrastructure in all Northeastern states. Union Budget 2023 has allocated 19 projects of Rs. 75,795 crore for the Railways in Assam and NorthEast. 19 projects covering 2,008 Km is are currently in process at Assam and other Northeastern regions. 

Under Amrit Bharat Station Scheme, 59 stations in the North East will be developed with world-class amenities/facilities. The list of stations that will be benefited under the scheme are: Naharalagun (Itanagar), Amguri, Arunachal, Chaparmukh, DhemajiDhubriDibrugarh, Diphu, Duliajan, Fakiragram Jn., Gauripur, Gohpur, Golaghat, Gosaigaon hat. Haibargaon, Harmuti, HojaiJagiroad, Jorhat Town, Kamakhya. Kokrajhar, Lanka, Ledo, Lumding, Majbat, MakumJn, Margherita, Mariani, Murkongsolek, Naharkatia, Nalbari. Namrup, Narangi, New Bongaigaon, New Haflong, New Karimganj, New Tinsukia, North Lakhimpur, Pathshala, Rangapara North, RangiyaJn, SarupatharSilapathar, Silchar, Simalguri, Sivasagar Town, Tangla, Tinsukia, Udalguri, ViswanathChariali, Imphal, Sairang (Aizawl), Dimapur, Rangpo, Agartala, Dharmanagar, Kumarghat, Udaypur.

15 stations each in all divisions of NFR to be developed under Amrit Bharat Station Scheme.

The Union Budget 2023-24 has earmarked Rs 10,988.80 crore for the development of railways in the North East. It is 13.75 per cent more than the previous year’s allotment (Rs 9,660.14 crore). 

Total railway infrastructure projects of Rs 75,795 crore are going on in the entire Northeastern region. An adequate allocation has been made for the early execution of all the ongoing works. Around Rs 1,100 crore has been allocated for Dimapur-Kohima new line projects while Rs 800 crore is earmarked for the execution of the Jiribam-Imphal new line projects.

  • Other capital connectivity projects in the Northeastern states such as Sivok – Rangpo new line projects in Sikkim gets Rs 2,350 crore while Rs 915 crore has been allocated for Bairabi-Sairang new line projects in Mizoram.
  • Among other new line projects, Rs 200 crore for Agartala-Akhaura international connectivity project between India and Bangladesh and around Rs 700 crore is allocated for Araria – Galgalia project.
  • Rs 600 crore for New Bongaigaon – Rangiya-Kamakhya and Rs 500 crore for New Bongaigaon-Goalpara-Kamakhya has been allocated for speedy execution of the ongoing track doubling works, he also said.
  • Moreover, Rs 115 crore has been allocated for the doubling works between Katihar-Kumedpur and Katihar-Mukuria sections to further improve train connectivity to and from Northeast.
  • Agthori station near Guwahati will be redeveloped with world-class facilities for Rs 517 crore.

 

Acknowledgment

Assam Chief Minister Himanta Biswa Sarma “Assam Govt will be richer by Rs 10,000 Crore following the Union budget 2023-24. CM Sarma said, “We have calculated and Assam will be richer by Rs 10,000 following the budget. This part only relates to untied fund. Once we calculate the money from the schemes it will be much more.”

While grant of Panchayats is increased by 15 percent grant of town committees is increased by 61 percent. “SDRF grant is increased by 5 percent and Central sector allocation is enhanced by 5 percent. The interest free loan amount of Assam is increased to Rs 6000 Crore.”

Assam will get an additional Rs 6400 crore of untied funds from the budget than the previous year. From some Rs 25,000 crore annually, this budget has allocated Rs 31, 950 Crore for Assam which is a hike of Rs 6,400 Crore. That means that now the state government will get around Rs 550 Crore more from the Centre monthly.”

Currently, the state government receives around Rs 18,000 Crore monthly from the Centre as untied funds which the state government can utilize at its own will.

 

Federation of Industry and Commerce of North Eastern Region (FINER) has hailed the Budget 2023, welcoming the budget, Bajrang Lohia said that the Finance Minister presented a citizen-centric, growth-oriented budget, which clearly sets the priorities going ahead, aiming at a stable tax regime. The budget focuses on the youth, women, and disadvantaged in general, and strives for enabling opportunities among the people.

The announcement of laying Rs.2491 crore for the North East Special Infrastructure Development Scheme is a huge relief to the industry fraternity of the region. Under the scheme, 100 percent centrally funding is provided to the State governments of North Eastern Region for the projects of physical infrastructure relating to water supply, power and connectivity enhancing tourism and social infrastructure relating to primary and secondary sectors of education and health.

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Assam Current Affairs – October 07-09, 2022

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Assam & NE Current Affairs & GK – October 07-09, 2022

( Covers all important Current Affairs & GK topics for the October 07-09, 2022)

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Current Affairs GK & Quiz Monthly – July 2022

Assam Current Affairs and GK Quiz – Set 316: July 2022, Week 4 

October 07-09, 2022

Kerala’s Pullampara named first fully digital literate panchayat

The Pullumpara village panchayat in the Thiruvananthapuram district of Kerala has become the first digitally literate panchayat in the country. 

Digital literacy was imperative for the public to get government services as well as connect with the global knowledge network.

Key Points

  • The project was started on August 15, 2021 with the plans to impart digital literacy to all residents of the panchayats under the Digi Pullampara project. 
  • The project mission is to achieve total digital literacy and empower the residents to get access to government services available through the online mode. 
  • Full digital literacy was gained by Pullampara panchayat’s ‘DigiPullampara’ project. 
  • The left democratic front (LDF) government in Kerala had announced to extend digital literacy to all the residents. The government has also created Kerala – Fibre Optic Network (K-FON) to provide an internet connection to all and to ensure its promise of making access to the internet a basic right.

World’s largest jungle safari park will be set up in Haryana

Chief Minister of Haryana, Manohar Lal Khattar announced that the world’s largest safari park will be set up in the state. The safari park will be spread across an area of 10000 acres in the Aravalli Mountain Range of Gurugram and Nuh District.

Key Points

  • Haryana’s Jungle Safari project will be a joint project of the Ministry of Environment, Forest and Climate Change, Government of India and the Government of Haryana. The central government will also help with the funds to Haryana for the project.
  • The proposed Aravalli Park will be 5 times the size and will include a large herbarium, an aviary, four zones for big cars, a large area for herbivores, an area for exotic animal/birds, an underwater world, natural trails, visitors, tourism zones, botanical garden, biomes, equatorial, tropical, coastal, desert, etc.
  • The Jungle safari scheme will not only boost tourism but also provide employment opportunities to local residents.
  • This project will be the largest such project in the world. Currently, Sharjah is the home to the largest curated safari park outside Africa, which covers an area of about 2,000 acres. The park was opened in February 2022.

Union Environment Ministry set up Cheetah task force

The Ministry of Environment, Forest and Climate Change has constituted a Task Force for monitoring Cheetah introduction in Kuno National Park, Madhya Pradesh and other suitable designated areas.

The National Tiger Conservation Authority (NTCA) would facilitate the working of the Cheetah Task Force and render all necessary help.  

Key Points

  • According to the ministry the task force has been constituted for a period of 2 years.
  • The Task Force has been constituted to review, progress and monitor the health status of Cheetah.
  • It will also look over the upkeep of the quarantine & soft release enclosures, protection status of the entire area, adherence to the defined protocols by forest & veterinary officials.
  • It will suggest and advise on development of tourism infrastructure in the fringe areas of Kuno National Park and other Protected Areas. 
  • The Task Force regularly interacts with Cheetah mitras and local communities for their awareness raising and also involvement in protection of Cheetahs in particular & area in general.
  • In addition to these, the task force will also be responsible for monitoring hunting skills and adaptation of Cheetahs to the habitat of Kuno National Park.
  • Cheetah restoration is part of a prototype or model for restoration of original cheetah habitats and their biodiversity, which aimed at putting a check to degradation and rapid loss of biodiversity. 

Pankaj Advani wins gold at IBSF World Billiards Championships in Kuala Lumpur

India’s Pankaj Advani has won a gold medal at the 2022 IBSF World Billiards Championship in Kuala Lumpur. This is Pankaj Advani’s 25th world title. 

He defeated compatriot Sourav Kothari  by ‘4-0’ in the 150-up billiards final at the World Championships in Kuala Lumpur. This is Advani’s  title for the fifth time in a row.

Advani’s last world title came over 12 months ago in Qatar where he won the IBSF 6-Red Snooker World Cup.

RBI Releases Concept Note On Central Bank Digital Currency

The Reserve Bank of India has released a Concept Note on Central Bank Digital Currency (CBDC). The purpose of this Concept Note is to create awareness about CBDCs in general and the planned features of the digital Rupee, in particular. 

It is a sovereign currency issued by Central Banks in alignment with their monetary policy.

Key Points

  • The Reserve Bank defines CBDC as the legal tender issued by a central bank in a digital form. 
  • It is substantially not different from banknotes, but being digital it is likely to be easier, faster and cheaper. 
  • It also has all the transactional benefits of other forms of digital money.
  • It’s a digital bearer instrument that can be stored, transferred, and transmitted by all kinds of digital payment systems and services.
  • The concept note also discusses key considerations such as technology and design choices, possible uses of Digital Rupee, issuance mechanisms, etc. 
  • It examines the implications of the introduction of CBDC on the banking system, monetary policy, financial stability, and analyses privacy issues.