Rs 62,294 crore Vote on Account submitted
Staff Reporter
Guwahati: Ahead of the upcoming election in the state, Finance Minister Ajanta Neog today presented the Vote on Account for the financial year 2026-27.
The Finance Minister said in the house, “I seek a vote on account on the demand for grants for the initial months of the financial year 2026-27 amounting to Rs 62,294.78 crore to enable the government to carry on its normal services pending the full budget.”
Setting forth an account of the fiscal and development activities and economic transformations in the past five years, Minister Neog said, “With record cash reserves and a robust resource base, we have moved from a state of ‘survival’ to a state of ‘sovereign strength’. Our GSDP at current prices is projected to rise from Rs 4,10,724 crore in 2021-22 to Rs 7,45,293 crore in 2025-26, reflecting a staggering growth rate of over 17%. With this growth momentum, the state is poised to become a one-million-crore economy by 2028, well ahead of our commitment to achieve it by 2030.”
“I stand in this august house not merely to seek approval for expenditure but to speak about a transforming Assam. I express my sincere thanks to all our alliance partners, my colleagues seated in the opposition benches and especially to the people of Assam for their continuous support, trust and guidance to this government,” she said.
“The world is now looking at Assam with new eyes. We’ve breached the gap between local potential and global investment in record time. From the banks of the Brahmaputra to the boardrooms of Davos, Assam has arrived on the global stage. With the Tata semiconductor plant in Jagiroad, an investment of Rs 20,000 crores nearing its commission this year, we’ve leapt forth into the future. The visionary proposal to construct an underground railway track along a 40-kilometer Siliguri corridor, fortifying the Chicken’s Neck, will create a secure transportation route connecting the northeast to the rest of India. We’ve also requested the Government of India expand air connectivity by conducting a feasibility study for five new airports in Assam: Nagaon, Diphu, Umrangso, Majuli, and Manas,” Neog further said.
“The state’s debt-to-GSDP ratio stands at 25.5% in 2024-25, placing Assam at the 21st position among the 28 states, thereby reflecting a sustainable and controlled debt trajectory within permissible fiscal norms. Overall, the state’s own tax revenue increased by 75%, from Rs 17,134 crore in 2020-21 to Rs 30,052 crore in 2024-25. It has reduced our dependence on central transfers and ensures a stronger self-sustaining internal economy,” Finance Minister Neog added.
Also Read: Assam: Finance Minister Ajanta Neog Tabled Supplementary Budget