Staff Reporter
GUWAHATI: Chief Minister Himanta Biswa Sarma said that Assam is set to be a ‘million crore economy’ in the next three years.
The Chief Minister said this during his interactions with journalists on the first day of the New Year, 2025. By virtue of various factors, the financial health of Assam has been improving at a fast pace, he said. “The GDP of the state was Rs 3.40 lakh crore in 2020-21, and that has risen to Rs 7.12 lakh crore now. At the present growth rate, it is estimated that the GDP of the state will cross Rs 10 lakh crore, i.e., the state is set to have a ‘million crore economy’ in 2028. Insofar as GDP is concerned, Assam is in the 16th position. We are trying to attain the 17th position, toppling the GDP of Punjab,” the CM asserted.
On the state government taking huge loans, the Chief Minister said, “Loans are a source of finance. All states take loans. The Government of India also takes loans. Taking loans has some guidelines. We are taking loans by staying within those guidelines. In 2024, the Government of India permitted us to take Rs 27,000 crore worth of loans. We, however, took only Rs 17,000 crore as loans. Loans and GDP growth are correlated. The increase of GDP growth leads to an increase in loan slab. We took loans and spent them on the development of infrastructure that has led to the growth in GDP. Though we can take 32 percent of GDP as loans, we have taken only 24 percent. We have repaid all the loans taken by the previous government till 2014.”
He said, “The almost absence of protests and bandhs in the state has led to this growth in fiscal health. The peaceful atmosphere in the state sends a positive note to the rest of India and abroad. The arrival of the Rs 27,000-crore semiconductor plant in the state has brought a sea change in the economy of the state. The steep fall in insurgency-related killings and violence in the past few years has sent a positive signal to the investors. The eco-friendly policies adopted by the state government also continue to woo investors.”
On the prospects of the setting up of a megacity at Gelephu by the Bhutanese government, the Chief Minister said, “It will bring a sea change in the economy of Assam. The King of Bhutan also wants Assam to benefit from the megacity project. The Government of India also wants Assam and Bhutan to work in tandem with each other. The megacity at Gelephu will lead to huge investment in the hinterland of Assam, like Kokrajhar, Chirang, Baksa, etc. A lot of potential is coming from the proposed megacity, and we need to grab that.”
On the Orunudoi Scheme, he said, “This scheme is playing a crucial role in poverty alleviation in Assam. Many states have come forward to get details of this scheme. Three years ago, 36 percent of people in the state were below the poverty line (BPL). After this government came to power, it upgraded 25 percent of the 36 percent of BPL people to lower middle class. We are extending financial assistance to women to make them entrepreneurs. The aim is to create 30 lakh women entrepreneurs in the state. Through the Mukhya Manrir Atmonirbhor Asom Abhiyan, this government is providing Rs 2-5 lakh to the youths. These will add to the growth in the fiscal health of the state.”
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