Reserve Bank of India’s (RBI) Handbook of Statistics on Indian States 2023-24 has revealed concerning figures about Assam’s debt trajectory, especially during tenure of BJP government. Opposition MLA Akhil Gogoi brought these statistics to light, criticizing state administration for its borrowing practices and financial management.
Rising Debt Burden in Assam
RBI data shows significant growth in both interest payments and outstanding liabilities of Government of Assam over past eight years of BJP’s governance. Gogoi, armed with detailed charts, compared these figures with those from 15-year tenure of Congress-led government under Tarun Gogoi, highlighting a stark contrast.
| Time Period | Total Interest Payments (₹ in Crores) | Total Outstanding Liabilities (₹ in Crores) |
| 2001–2016 (Congress) | 26,369 | 41,964 |
| 2016–2021 (BJP, Sarbananda Sonowal) | 19,651 | 47,745 |
| 2021–2024 (BJP, Himanta Biswa Sarma) | 22,410 | 61,191 |
| Cumulative (1947–2016) | – | 41,964 |
| Cumulative (2016–2024) | 42,061 | 1,08,936 |
Analysis of Interest Payments
Akhil Gogoi presented data indicating that during 15 years of Congress governance (2001-2016), total interest payments made by state government amounted to ₹26,369 crore. However, during eight years of BJP rule (2016-2024), interest payments skyrocketed to ₹42,061 crore—an increase of nearly 60%.
Of this ₹42,061 crore, government under Sarbananda Sonowal paid ₹19,651 crore, while Himanta Biswa Sarma administration has paid ₹22,410 crore in just three and a half years.
Outstanding Liabilities and Debt Explosion
data also highlights sharp escalation in Assam’s total outstanding liabilities. During Congress government’s 69-year tenure from 1947 to 2016, total debt stood at ₹41,964 crore. In stark contrast, BJP government added ₹1,08,936 crore to Assam’s liabilities in just eight years.
- Under Sarbananda Sonowal (2016–2021), liabilities grew to ₹47,745 crore.
- Under Himanta Biswa Sarma (2021–2024), liabilities surged further to ₹61,191 crore.
- As of March 31, 2024, Assam’s total debt has reached an alarming ₹1,50,900 crore.
Political Reactions
Speaking at a press conference, Akhil Gogoi questioned state’s borrowing practices and criticized Chief Minister Himanta Biswa Sarma for failing to manage Assam’s finances responsibly. He stated, “BJP government has pushed Assam into a debt trap, prioritizing large-scale borrowings over sustainable fiscal policies.”
Gogoi also demanded transparency and accountability in how these funds are being utilized, arguing that state’s rising debt could jeopardize future development and financial stability.
Government’s Response
While BJP government has yet to issue a formal statement addressing Gogoi’s accusations, proponents of administration argue that increased borrowing has been essential to fund infrastructure and welfare projects. However, critics, including Gogoi, contend that returns on these investments have not been commensurate with level of debt incurred.
Broader Implications
rising debt levels in Assam reflect a broader national trend of increasing state liabilities. Experts have warned that unchecked borrowing by state governments could lead to fiscal crises, particularly if revenue generation fails to keep pace with repayment obligations.
figures highlighted by Gogoi have raised pressing questions about Assam’s fiscal health:
- Are borrowed funds being used effectively to generate long-term economic benefits?
- How will government manage its growing interest payment obligations without sacrificing essential services?
Public Sentiment and Media Coverage
revelations have sparked public concern, with many questioning long-term consequences of state’s debt burden. Social media platforms have been abuzz with debates, with citizens demanding greater financial transparency from government.
Conclusion
RBI data underscores need for Assam’s government to adopt more sustainable financial practices and ensure that borrowed funds are utilized effectively for state’s development. Akhil Gogoi’s exposé has brought critical attention to an issue that has far-reaching implications for Assam’s economic future.
Disclaimer
This article is based on publicly available data and statements from concerned parties. information has been presented with due diligence for accuracy and objectivity. Readers are encouraged to verify details independently and consider multiple perspectives for a comprehensive understanding.
