Assam Accelerates Towards Economic Growth: Expects to Touch Rs 10 Lakh Crore Economy by 2026

Guwahati, 20th February: Assam is making significant strides towards becoming a contributing state to India’s growth narrative by bolstering its own revenue base. According to official data shared by the Chief Minister’s Office (CMO) Assam, the total internal revenue collected for the Financial Year 2023-24 (April-November) has witnessed a commendable 14% increase compared to the previous year, reaching Rs 22,104 crore from Rs 19,446 crore.

Earlier, in January, Assam Chief Minister Himanta Biswa Sarma announced that Assam’s GDP for the 2023-24 period reflects an impressive 14.7% growth, positioning the state as an emerging economic powerhouse. Sarma expressed optimism, projecting Assam’s GDP to touch Rs 5,65,000 crore during the 2023-24 period, with early projections for the following year indicating Rs 6,38,000 crore. He further envisioned Assam’s economy nearing Rs 10 lakh crore before 2026.

CM Sarma emphasized the state’s remarkable progress, stating, “Today Assam is becoming almost an economic powerhouse.” He outlined projections for Assam’s GDP, indicating a steady growth trajectory from Rs 5.65 lakh crore in 2023-24 to Rs 6.5 lakh crore in 2024-25. Sarma underscored the significant progress, estimating the state’s economy to reach nearly 9 to 10 lakh crore by the end of his government’s tenure.

Assam’s internal revenue buoyancy further reflects the peaceful conditions prevailing in the state, with CM Sarma highlighting an 18% tax buoyancy. He attributed this growth to the conducive environment for trade and other activities, as evidenced by the tax revenue reaching Rs 19,568 crore for the period up to November, showcasing an 18% growth compared to the previous year.

As Assam continues its trajectory of economic growth and revenue enhancement, the state aims to play a pivotal role in India’s economic landscape, contributing significantly to the nation’s progress and development.

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