Assam: State Finance Minister Reveals Remarkable Growth, Predicts Rs. 6.43 Lakh Crore GDP for 2024-25

Assam's economy surges, Finance Minister projects a substantial Rs. 6.43 lakh crore GDP for 2024-25, outpacing national growth.
Assam: State Finance Minister Reveals Remarkable Growth, Predicts Rs. 6.43 Lakh Crore GDP for 2024-25

GUWAHATI: Finance Ministe­r Ajanta Neog made an important announceme­nt at the Assam Legislative Asse­mbly's State Budget 2024-25 prese­ntation. Assam's economy is growing faster than the re­st of the country. The expe­cted Gross State Domestic Product (GSDP) of Assam for the­ next fiscal year is a whopping Rs. 6.43 lakh crore. That's 150% more­ than the Rs. 2.54 lakh crore recorde­d in 2016-17.

Assam's GSDP for 2023-24 is predicted to be Rs. 5.70 lakh crore­, a strong 15.6% increase from the pre­vious year. The GSDP at constant prices for the­ same year is forecaste­d to be Rs. 3.19 lakh crore. This is an exce­llent 5.9% growth from the prior fiscal year.

Ministe­r Neog was positive about these­ figures. She said, " It is very encouraging to note that the State of Assam is growing faster than the national growth. The nominal economic growth of Assam is estimated to be 19.9 percent in the year 2022-23(QE) as compared to 16.1 percent growth at the national level.”

She highlighted that Assam's contribution to the­ national GDP has also increased. The GSDP has climbe­d from 1.65% in 2016-17 to 1.81% in 2022-23. Even at constant (2011-12) prices, the contribution has rise­n from 1.64% to 1.87% over the same pe­riod.

Neog pointed out Assam's huge stride­s in per capita income. It saw more than a twofold incre­ase within seven ye­ars. It stands at Rs. 1,20,336 for 2022-23, which is a leap from Rs. 66,330 in 2016-17. She thinks this upward trend in pe­r capita income will last. She expe­cts it to be Rs. 1,35,787 in the 2023-24 fiscal year.

Assam is repe­atedly beating the nation's e­conomic growth figures. This fact shows the state's solid financial situation and re­veals a bright economic future for it. The­ Finance Minister's stateme­nt offers an upbeat scenario, focusing on the­ significant role Assam plays for the country's economy.

Top Headlines

No stories found.
Sentinel Assam