Baruah died of old age ailments, his family said.
Baruah, who was 87, leaves behind his wife, two sons and a daughter.
Baruah, who was the Chairman of the Assam Tribune Group since 1985, passed way at around 12.45 pm.
His body was cremated at the Nabagraha cremation groud later in the afternoon.
Among the group's publications are The Assam Tribune, the highest circulating English daily in Assam, the Assamese daily 'Dainik Asom' and the Assamese weekly paper 'Asom Bani', among others.
Assam Chief Minister Tarun Gogoi condoled the death of
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Baruah.
Gogoi said that Baruah's contribution to the growth of
journalism in the state would be remembered for generations to come.
"Inheriting a rich legacy from his illustrious father R G Baruah, Tulsi Govinda Baruah took the Assam Tribune Group to a new height through his administrative acumen and dexterity," Gogoi said.
State Congress President Bhubaneshwar Kalita and Asom Gana Parishad chief Prafulla Kumar Mahanta also expressed their grief.
Baruah's father had founded the group in the 1930s. Baruah's son Surajit Govinda Baruah is the director of Assam Tribune Group.