Assam among top 5 fastest-growing states of India, claims CM Himanta Biswa Sarma

Syllad | The Rising MeghalayaJuly 26, 2024

Assam chief minister Himanta Biswa Sarma on Friday claimed that Assam has emerged as one of the top five fastest-growing states in the country with the state’s economy growing by 13.9 per cent at the end of the last fiscal.

Sarma was referring to the report of the Economic survey which was placed in the Parliament prior to the Union Budget.

Addressing a press conference at Janata Bhawan here on Friday, Sarma said: “The Economic Survey report mentioned that Assam’s GSDP growth hs touched 13.9 per cent at the end of the last fiscal. It indicated that our economy grew by 13.9 per cent.”

The chief minister cited the latest economic survey to underscore Assam’s economic strides. “In 2021, the state’s bank deposits were at Rs 1.71 lakh crore, which surged to Rs 2.24 lakh crore by 2023-24. This 30 per cent increase in bank deposits over three years is a significant economic indicator.

Highlighting the credit growth, Sarma mentioned, “In 2021, banks in Assam disbursed loans worth Rs 80,871 crore. This figure has risen to Rs 1.27 lakh crore in 2024, reflecting robust economic activity.”

Sarma also emphasized the improvement in the state’s Credit/Deposit (C/D) ratio, which traditionally stood at 32 per cent. “According to the economic survey, our C/D ratio has now increased to 58 per cent, indicating a healthier financial environment,” Sarma stated.

“Similarly, the unemployment rate of the state has also reduced from 8% in 2022-23 to 6.1 per cent in 2023-24. The state’s labour participation rate has also gone up from 36.5% in 2022 to 40.9 per cent at the end of the 2023-24 fiscal,” Sarma said.

The chief minister hoped that the state would go a higher level of economic growth in the coming years.

Talking about the Union Budget 2024-25, the chief minister said for the first time Union finance minister mentioned that the state has to suffer for water outside.

He said the Centre has released adequate funds to mitigate flood problems in the state in the last fiscal.

“In the last year, the Centre has allocated Rs 4,800 crore fund for flood management programmes. The figure will be much more than Rs 11,500 crore that has been allocated to Bihar this year if the centre grants funds for a permanent solution of the flood problem in the state,” he said.

He further said this budget has allocated 22 per cent additional funds for the rural sector, 33 per cent fund for urban local bodies, 50 per cent for health care projects and 5 per cent for SDRF and SDMF programmes. In addition to this, Rs 70,000 crore has been allocated under Jal Jeevan Mission (JJM) and Rs 54,000 crore under PMAY,

The chief minister said the Union Budget highlighted an innovative internship scheme for 500 top Indian companies to skill 1 crore youth over five years. It targets individuals aged 21-24 who are neither employed nor in full-time education. We will also announce a fiscal package for the intern from Assam under this scheme.

He added that as proposed earlier in the Budget Speech of 2021-22, Rs 1,000 crores would be provided for the PMCSPY and is aimed at making need-based interventions in tea garden areas for internal strengthening provisions of education and health services to the tea workers.

“During my meeting with Union finance minister Nirmala Sitharaman in Delhi I pleaded with her to start the unit IV of Namrup Fertilizer Project, expansion project of gas cracker, and setting up a defence corridor in the state,” he added.