Dispur received Rs 1,27,839 crore in loans from 2016 to 2024 and repaid Rs 35,935 crore
Staff Reporters
GUWAHATI: State Finance Minister Ajanta Neog said that no state government can take loans more than the amount fixed by the Government of India. She said the Centre fixes the total amount of loan for every state based on the GSDP of the state concerned and the recommendations of the Finance Commission.
During the Question Hour, the Finance Minister said that, according to the AFRBM (Assam Fiscal Responsibility and Budget Management) Act, the ratio between the amount of debt and the GSDP of Assam should be below 32 percent. “In 2023-24, this ratio in Assam was 24 percent. We spend the loan we take on capital expenditure, i.e., in the creation of assets. In 2023-24, our government spent Rs 21,000 crore on capital expenditure,” she said.
Neog informed the House that from 2016-17 to 2022-23, the state government had taken Rs 1,27,839 crore in loans with consent from the government of India and repaid Rs 35,935 crore in loans during the same period. She said, apart from this, the state government paid Rs 21,065 crore as interest on loans from 2021 to 2024.
“The centre released Rs 2,63,699 crore to Assam on different heads in the past five financial years. In 2019-20, the state government received Rs 21,721 crore as a share of central taxes, and that surged to Rs 35,331 crore in 2023-24,” she said.
Neog also informed the House that during 2021-22, the state government spent Rs 52,626 crore on the heads of salary, pension, and interest payments. The revenue expenditure on these heads surged to Rs 60,203 crore in 2023-24.
Neog said that the state government takes loans and repays them on time too, and this will continue in the future as well. “We spend the amount of loans we take for the construction of roads, bridges, etc., across the state. Such loans ensure the overall development of the state. However, a section of people criticises the government for taking loans without delving deep into the matter. A government cannot take loans from anyone and everyone. It takes loans by following the guidelines set by the Central Government and the RBI,” she said.
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