Public expenditure crossed Rs 1 lakh crore: Chief Minister Himanta Biswa Sarma

STAFF REPORTER

GUWAHATI: The State government scripted a record by spending over Rs 1 lakh crore in fiscal 2021-22.

Making this public on the floor of the Assembly today, Chief Minister Himanta Biswa Sarma said, "It is a historic milestone to cross the Rs 1 lakh crore mark in public expenditure in a financial year. State annual public expenditure was Rs 42,000 crore in 2015-16. It grew by around 20 per cent in the past five years. Rs 1 lakh crore public expenditure in a given financial year is a benchmark for any big state. We have joined that club of big states. Our target annual public expenditure is Rs 1.50 lakh crore now.

"Another milestone we achieved in the last fiscal is increasing capital expenditure and decreasing revenue expenditure. A rise in capital expenditure tantamounts to developing infrastructure. Capital expenditure in the state in 2015-16 was Rs 2,991 crore. It rose to Rs 16,339 crore in 2021-22.

"This speaks volumes of smooth fiscal management in the state, besides the efficiency of the departments. The central share transfer has also increased manifold. The state GST collection has also gone up, despite the Covid-19 situation. Revenue collection from own sources also increased. The Transport Department collected around Rs 1,000-crore revenue in fiscal 2021-22. The state GDP growth rates in the past three financial years were above the national average. Sound financial health in the state made us stay well within the limit set by the Reserve Bank of India for borrowing."

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