Assam on Track to Be 'Net Contributor', GSDP Growth Beats National Average: CM

Asserting that Assam is now among the best fiscally-managed states in India, Chief Minister Himanta Biswa Sarma stated that the state is on course to becoming a 'net contributor' with its Gross State Domestic Product (GSDP) growth surpassing the national average.

Addressing a press conference following the presentation of the state budget by Finance Minister Ajanta Neog on Monday, CM Sarma noted that Assam's total expenditure for 2024-25 is projected to exceed Rs 1.75 lakh crore, a substantial increase from the Rs 41,000 crore expenditure recorded in 2015-16.

A Future-Driven Budget

Highlighting the government's approach, Himanta Biswa Sarma emphasized that the budget lays out a roadmap for Assam's future. "This budget has the future roadmap for Assam. There is no new tax imposed, rather relief to some sectors has been continued," he said.

Referring to the election year, he stated, "When elections come, political parties present budgets that are beneficiary-driven. We are continuing with our efforts to empower the poor and middle class, but at the same time we have not deviated from our commitment to make Assam among the front-ranking states."

The chief minister pointed out that Assam's GSDP grew by 13% in the last fiscal year, surpassing the national average of 10%. He also noted that the state ranks among the lowest in terms of debt-to-GSDP ratio. "We are now becoming a net contributing state," he said.

Strengthening Financial Foundations

The government is working to create a robust financial base, the Chief Minister asserted, adding that Assam's net worth stands at approximately Rs 60,000 crore, factoring in investments such as the asset value of public sector enterprises and allocations to various funds.

Among key welfare initiatives, the government plans to expand the beneficiary base of the 'Orunodoi' scheme to 37 lakh women, who receive Rs 1,250 per month. Addressing potential disruptions due to the 2026 elections, Sarma assured, "State elections are likely to be announced in February next year, and it could lead to confusion over the release of monthly Orunodoi instalments till May. If needed, we will release funds for four months in February itself."

As per the committee’s recommendations, legislative drafting is underway to allow land transactions in select revenue circles only among ‘indigenous people.’ Sarma clarified that while a survey of 'char' lands will be conducted, settlement decisions will be made after consultations with stakeholders.

In a cultural initiative, the state government will also launch its own OTT platform to showcase Assam’s rich heritage, the chief minister announced.

Neog tabled a Rs 2.63 lakh crore budget for the fiscal year 2025-26, with a deficit of Rs 620.27 crore. This marks the last full budget before the state assembly elections in 2026.