"Debt Surge Alarming": Akhil Gogoi Slams Assam CM on Economic Policies

Raijor Dal chief and Sivasagar MLA Akhil Gogoi launched a scathing attack on Assam Chief Minister Himanta Biswa Sarma during a press conference on Saturday, alleging inconsistencies in Sarma's recent claims regarding the state’s economy.

Referring to data from the Reserve Bank of India’s Handbook of Statistics on Indian States, Gogoi presented a detailed comparison of economic indicators under different administrations.

Economic Comparisons Across Administrations

Gogoi highlighted that during Tarun Gogoi’s third term as Chief Minister, Assam’s GDP growth rate stood at 7.6%, with a debt growth rate of approximately 11%. In contrast, Ex-CM Sarbananda Sonowal’s tenure saw the GDP growth rate decline to 5.4%. Under Himanta Biswa Sarma, the GDP growth rate increased to 8.8%, but the debt growth rate surged to 19%.

“While the GDP growth under Himanta Biswa Sarma is marginally higher than that of Tarun Gogoi, the debt level has escalated alarmingly,” Gogoi said. He further pointed out that Assam's current debt stands at ₹1.5 lakh crore, amounting to 48% of the state’s GDP.

Declining Contribution to India’s Economy

Gogoi also referenced the Economic Advisory Council to the Prime Minister (EAC-PM), which revealed a steep decline in Assam’s contribution to India’s GDP.

“In 1960-61, Assam contributed 2.6% to India’s GDP. By 2023-24, this share has dropped to 1.9%. Among 20 major states, Assam now ranks fourth from the bottom in GDP contribution,” he stated.

Per Capita Income Comparison

Drawing attention to Assam’s per capita income, Gogoi said, “In 1960-61, Assam’s annual per capita income was ₹102.90. By 2023-24, it has dropped to ₹73.70, which is ₹26.30 less than the national average.”

Debt Accumulation and Transparency Demands

Highlighting Assam’s debt accumulation, Gogoi claimed, “Between 1947 and 2016, the state accumulated ₹41,964 crore in debt. Shockingly, in just three years of Himanta Biswa Sarma’s tenure, the debt has increased by ₹63,191 crore.”

Gogoi called for greater transparency and demanded the publication of a white paper on Assam’s economy. “The government must disclose details about loans from JICA, alleged corruption in the Louis Berger scandal, and irregularities in preparing Detailed Project Reports (DPRs), which were manipulated for commission benefits,” he said, urging a CBI investigation into these matters.

Criticism of Economic Models

Gogoi dismissed Sarma’s claim that Assam’s economy would soon match Punjab’s, stating, “Punjab’s financial condition has deteriorated since the Green Revolution, and comparing Assam to Punjab is misleading.” He also criticized the state’s reliance on welfare schemes like Orunodoi and the lack of progress in irrigation infrastructure.

Challenge to the Chief Minister

Accusing the Chief Minister of misleading the public, Gogoi said, “On January 1, Himanta Biswa Sarma made false claims about the state’s economy. I challenge him to present the truth in a public debate. If needed, let him debate on his channel, and I will expose the discrepancies point by point.”

Closing Remarks

Gogoi concluded by questioning the Chief Minister’s governance, saying, “Himanta Biswa Sarma acts not only as the Chief Minister but also as the SP and even the village headman. Assam’s future cannot be left in his hands.”

CM Sarma’s Claims on January 1

Earlier, on January 1, Chief Minister Dr. Himanta Biswa Sarma stated that Assam is making rapid economic progress and is on track to becoming a million-economy state by 2028. Speaking at the Koinadhora State Guest House in Guwahati, Sarma highlighted his government’s achievements, asserting that all loans taken by the Tarun Gogoi-led Congress government were repaid by 2014 and that Assam is now debt-free until that year.