‘Assam’s debt hits 48% of GSDP’: Akhil Gogoi slams CM over rising debt, economic policies

Guwahati, Jan. 4: Raijor Dal chief Akhil Gogoi has raised concerns over the state’s growing debt, revealing that Assam’s debt stands at approximately 48% of its Gross State Domestic Product (GSDP), which is valued at Rs 3 lakh crore.

Gogoi made these remarks while addressing the press at his residence on Saturday, accusing Chief Minister Himanta Biswa Sarma of making false claims about the state’s economy earlier this year.

Gogoi compared Assam’s current financial situation with previous years, stating that while the state’s GDP growth has been impressive under Chief Minister Sarma—growing into 8.8—the debt level has reached an alarming 19.

He pointed out that during the previous governments, led by Tarun Gogoi and Sarbananda Sonowal, the GDP were 7.6 and 5.4, respectively, with lower debts.

“In Himanta Biswa Sarma’s tenure, the GDP has grown, but the debt has surpassed all previous records,” Gogoi said, explaining that the debt in 2019 stood at 20-25% of the GDP and has now shot up to 48%.

On Assam’s contribution to the national economy, Gogoi noted that the state’s share in India’s GDP had been steadily declining over the years.

From 2.6% in 1960-61, Assam’s contribution dropped to 1.9% in 2023-24, with the state ranking fourth from the bottom in terms of GDP contribution across India.

Furthermore, Gogoi highlighted the stagnation in Assam’s per capita income, which, although rising slightly from Rs 68.30 in 2020-21 to Rs 73.70 in 2023-24, still ranks among the lowest in the country.

Assam is fifth from the bottom in terms of per capita income, just ahead of Bihar, Uttar Pradesh, Jharkhand, and Manipur, he said.

The Sivasagar MLA also criticised the Chief Minister’s economic policies, accusing him of borrowing excessively while the state remains “neck deep in debt”.

“It seems the Chief Minister’s philosophy is to eat honey and ghee, even if it means borrowing money,” he said, sarcastically.