Himanta Biswa Sarma says, Assam's GDP growth at 14.7 per cent, state almost an economic powerhouse

Assam Chief Minister Himanta Biswa Sarma today said that the Assam's GDP for the 2023-24 period is reflecting 14.7 per cent growth. He said that this shows that Assam is almost an economic powerhouse. 

Speaking to the media on the first day of 2024, CM Sarma said that the GDP growth is projected to touch Rs 5 lakh 65 crore during the 2023-24 period. He further said that early projections for this year is Rs 6 lakh 38 thousand crore. The Assam CM further exuded confidence that before 2026, Assam's economy will be close to Rs 10 lakh crore.

"In terms of GDP during 2023-24 period, we could touch Rs 5 lakh 65 crore. This is unprecedented because it is reflecting 14.7 per cent growth. Today Assam is becoming almost an economic powerhouse. Early projections for this year are showing that Assam's GDP will be Rs 6 lakh 38 thousand crore. So I believe that before 2026, Assam's economy will be close to Rs 10 lakh crore. The way we are progressing right now, we can assume that Assam's economy will be somewhere close to Rs 10 lakh core. Today we are already at Rs 5.6s lakh crore. The projection for 2024-25 is Rs 6.5 lakh crore. And if we add 2025-26 and 2026-27 over that, by the end of this government we will be almost 9 to 10 lakh crore economy. We are progressing in a huge manner if we keep going like this," said CM Sarma. 

In terms of internal revenue buoyancy, CM Sarma said that Assam has achieved 18 per cent tax buoyancy, which is indicative of the peaceful conditions in the state.

"The internal revenue buoyancy indicates the peace that is prevalent in the state. If we look at the taxation revenue from all departments, then we have achieved 18 per cent tax buoyancy, which is again unprecedented. In 2022-23 upto November the tax revenue was Rs 16,631 crore. In the same time period, this time the tax collection in Assam is Rs 19,568 crore. If we go upto March, usually tax collection gathers speed in the later four months. So even in the initial phase upto November, we are showing 18 per cent growth in our tax collection, which also shows the peaceful situation where people are engaged in trade and other activities," said CM Sarma.

CM Himanta Biswa Sarma further stated that external aided projects in the state from agencies such as World Bank, ADB etc have touched Rs 58,000 crore in the last three years.

"The total investment from external aided projects has touched Rs 58,000 crore. This means that projects worth Rs 58,000 crore have been cleared and being worked upon. Projects such as bridges on Guwahati-North Guwhati, Palasbari-Sualkuchi bridge, 3000 solar power, road connectivity worth Rs 4000 crore in Dima Hasao, Guwahati water supply project through various means, So in the last three years, total projects sanctioned are worth Rs 58,000 crore," said CM Sarma.