Guwahati: In a disclosure made during the ongoing Budget Session in the Assam Legislative Assembly, State Finance Minister Ajanta Neog revealed that the Assam government is grappling with a total loan debt amounting to Rs 1,09,071.22 crore since 2016. Assuring transparency, Neog outlined the state’s commitment to clearing all remaining loan debts by the year 2025.
Addressing the assembly on the second day of the session, Ajanta Neog affirmed, “All debts regarding the state government’s loans will be paid by 2025. Loans taken from 2001 to 2015 have been cleared, and an ongoing audit is addressing the remaining loan debt from 2023, slated to be resolved by year-end.”
In response to a query by Sivasagar MLA Akhil Gogoi, the Finance Minister detailed that the total loans undertaken by the BJP government from April 1, 2016, to March 31, 2023, amount to Rs 1,09,071.22 crores. This figure encompasses the entire period of BJP rule in Assam, spanning the tenures of former Chief Minister Sarbananda Sonowal and the incumbent Chief Minister Himanta Biswa Sarma.
The breakdown of the loan figures indicates that during Sarbananda Sonowal’s tenure (2016-2021), the state borrowed Rs 66,020.65 crores, averaging Rs 13,204.13 crores annually. Conversely, under Himanta Biswa Sarma’s leadership (2021-2023), the government acquired loans amounting to Rs 43,050.57 crores, averaging Rs 21,525.285 crores annually.
The loans were primarily secured for the implementation of various development schemes, as outlined in the official document released by the Assam Assembly. Notably, the document highlighted a significant increase in loan debt from Rs 4,543 crore in 2014-15 to Rs 18,338 crore in 2022-23. This includes a 50-year interest-free CAPEX loan.
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The Finance Minister emphasised that on March 31, 2016, the total loan on the Assam government stood at Rs 35,690.22 crore. From 2001-02 to 2013-14, the total loan undertaken was Rs 35,433 crore, with Rs 22,790 crore repaid by 2022-23. The remaining amount is earmarked for repayment within the stipulated timeframe.
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