Guwahati, 16th December: Assam Cabinet Minister Pijush Hazarika announced on X that Assam is among the least debt-ridden states in India, signaling a potential path towards achieving a debt-free status. Hazarika shared an image illustrating Assam’s robust fiscal position, showcasing the Projected Debt-to-GDP ratios for various states in the fiscal year 2023-24.
According to the data, Assam stands out with a projected Debt-to-GDP ratio of 24.4%, positioning it as one of the financially stable states. This places Assam ahead of economically stronger states like Maharashtra and Gujarat. The comparison includes various states with their respective Projected Debt-to-GDP ratios and Gross State Domestic Product (GSDP) projections for the fiscal year 2023-24.
- Arunachal Pradesh: 53% (GSDP: ₹0.37 Lakh Crore)
- Punjab: 46.8% (GSDP: ₹6.98 Lakh Crore)
- Nagaland: 41.6% (GSDP: ₹0.37 Lakh Crore)
- Manipur: 40% (GSDP: ₹0.45 Lakh Crore)
- Meghalaya: 39.9% (GSDP: ₹0.46 Lakh Crore)
- Himachal Pradesh: 39% (GSDP: ₹2.14 Lakh Crore)
- Bihar: 37.8% (GSDP: ₹8.59 Lakh Crore)
- Mizoram: 37.8% (GSDP: ₹0.35 Lakh Crore)
- West Bengal: 37.7% (GSDP: ₹17.19 Lakh Crore)
- Rajasthan: 36.8% (GSDP: ₹15.7 Lakh Crore)
… and so on.
Assam’s lower debt burden, well below the national average, reflects the state’s prudent fiscal management.