Cabinet clears ₹1.22 lakh crore MoUs, nixes Rs 45,000 cr for Advantage Assam 2.0

Guwahati, Feb. 23: Assam Chief Minister Himanta Biswa Sarma on Sunday said that the state government, following a cabinet meeting in Lok Sewa Bhawan, has approved Memorandums of Understanding (MoUs) worth Rs 1 lakh 22 thousand crores ahead of Advantage Assam 2.0.

While addressing the press after the cabinet meeting Sarma highlighted that the cabinet has rejected MoUs worth Rs 45 thousand crores.

“The beginning is very bright. Today, the Cabinet has approved proposals worth Rs 1 lakh 22 thousand crores. The proposals include both government and non-government proposals. We have had a very tight scrutiny of all the proposals we received and in that tune, we have also rejected proposals worth Rs 45 thousand crores on grounds of being flimsy or casual. We wish to be rational and reasonable,” the Chief Minister said.

The Chief Minister also emphasised that proposals by small scale and medium investors between Rs 5 lakhs to Rs 50 crores from across Assam will be signed in various district on February 25 and 26.

Notably, MoUs worth Rs 15,911 crores have been finalised to be signed during Advantage Assam 2.0.

“2,590 MoUs will be signed. MoUs worth Rs 15,911 crores will be signed which are from the local investors. This exlcudes the MoUs worth Rs 1 lakh 22 thousand crores that the Cabinet has approved today,” Sarma said.

On being asked by the press about the expansion of Assam’s economy by 2029, the Chief Minister said, “If our economy touch Rs 10 lakh crores by March 2029, I think it will be a game changer. I do not wish to create any euphoria around it. We have to approach this in a realistic manner. Advantage Assam 2.0 will receive a number of MoUs, but implementation will be key.”

Earlier, in January, the Chief Minister had said that 2026 and 2027 will be decisive years for Assam’s economy.

He had expressed optimism for future summits, saying, “We will perform well this time, but I am not overly optimistic about this year’s summit as it is an election year. Next year, we can take it to the next level.”

Other key decisions taken during the cabinet meeting today include-

• The 6th Assam Finance Commission to see an extension of term to March 31, 2026
• The government has also decided to take loans worth Rs 55 crores from National Housing Bank for Dibrugarh and Sivasagar for infrastructure-related work.
• The government has earmarked funds worth Rs 157 crores for the construction of Amolapatty flyover in Dibrugarh
• The government has decided to amend the Biotechnology Policy
• The Textile and Apparel Policy 2025 has been framed by the government to invite more investment
• Career Progression plan for medical professionals