Assam among the least debt states in India, announces Pijush Hazarika

In an announcement on the microblogging site X, Assam Cabinet Minister Pijush Hazarika declared that Assam stands among the least debt-ridden states in India, hinting at a promising future where the state could achieve a debt-free status.

Accompanying his statement was an image showing Assam's impressive fiscal standing in a comparison of Projected Debt-to-GDP ratios across various states for the fiscal year 2023-24.

According to the data, Assam, with a projected Debt-to-GDP ratio of 24.4%, is positioned as one of the most financially stable states in the country. This significant feat places Assam ahead of several states, including more economically robust ones like Maharashtra and Gujarat.

Here is a snapshot of the states with their respective Projected Debt-to-GDP ratios and GSDP (Gross State Domestic Product) projections for the fiscal year 2023-24:

1.    Arunachal Pradesh: 53% (GSDP: ₹0.37 Lakh Crore)
2.    Punjab: 46.8% (GSDP: ₹6.98 Lakh Crore)
3.    Nagaland: 41.6% (GSDP: ₹0.37 Lakh Crore)
4.    Manipur: 40% (GSDP: ₹0.45 Lakh Crore)
5.    Meghalaya: 39.9% (GSDP: ₹0.46 Lakh Crore)
6.    Himachal Pradesh: 39% (GSDP: ₹2.14 Lakh Crore)
7.    Bihar: 37.8% (GSDP: ₹8.59 Lakh Crore)
8.    Mizoram: 37.8% (GSDP: ₹0.35 Lakh Crore)
9.    West Bengal: 37.7% (GSDP: ₹17.19 Lakh Crore)
10.    Rajasthan: 36.8% (GSDP: ₹15.7 Lakh Crore)
... and so on.

Notably, Assam's debt burden is considerably lower than the national average, showcasing the state's prudent fiscal management.