Guwahati, Jan. 4: Raijor Dal chief Akhil Gogoi has sounded the alarm over Assam’s escalating debt, stating that it has reached approximately 48% of the state’s Gross State Domestic Product (GSDP), which totals Rs 3 lakh crore. During a press conference at his residence, Gogoi criticized Chief Minister Himanta Biswa Sarma for allegedly presenting a misleading portrayal of Assam’s economy earlier this year. Gogoi highlighted that while the GDP growth under Sarma’s leadership has been commendable, with an increase to 8.8, the surging debt has become a significant concern, marking an increase from 19 in prior years.
Gogoi contrasted this with the financial status during previous administrations, noting that under former Chief Ministers Tarun Gogoi and Sarbananda Sonowal, GDP growth rates were 7.6 and 5.4, respectively, coupled with more manageable debt levels. He remarked that the debt ratio was between 20-25% in 2019, but it has now grown to an unprecedented 48%. Additionally, Gogoi emphasized a worrying downward trend in Assam’s contribution to the national economy, which has decreased from 2.6% in 1960-61 to a mere 1.9% in 2023-24, placing Assam fourth from the bottom in national GDP contribution rankings.
Gogoi also pointed out the stagnation in Assam’s per capita income, which, despite a slight increase from Rs 68.30 in 2020-21 to Rs 73.70 in 2023-24, remains one of the lowest in the country. Assam ranks fifth from the bottom in per capita income, surpassing only Bihar, Uttar Pradesh, Jharkhand, and Manipur. Criticizing the Chief Minister’s economic strategies, Gogoi accused Sarma of excessive borrowing while the state is already “neck deep in debt.” He sarcastically remarked that Sarma’s approach seems to be “to eat honey and ghee, even if it means borrowing money.”
Original Source: https://assamtribune.com/assam/assams-debt-hits-48-of-gsdp-akhil-gogoi-slams-cm-over-rising-debt-economic-policies-1563393
Category : Assam,Featured
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Publish Date: 2025-01-04 18:41:00
