Guwahati, Assam – Chief Minister Himanta Biswa Sarma today announced a significant milestone for the state, revealing that Assam has ascended to become the third fastest-growing state in India. The state’s Gross Domestic Product (GDP) has registered an impressive growth rate of 7.94% at constant prices, a testament to recent economic advancements.
Chief Minister Sarma attributed this transformative growth to the implementation of investor-friendly policies coupled with sustained investments across crucial sectors, including infrastructure development, institutional strengthening, and human capital enhancement. He emphasized the remarkable nature of this economic surge, stating that such momentum would have been considered “unthinkable” in the recent past.
Addressing the Assam Legislative Assembly earlier this month, the Chief Minister had already signaled the state’s strong economic performance, noting consistent growth rates in the range of 14–15%. He highlighted that this figure significantly surpasses the national average of 9–10%, firmly placing Assam among the top five fastest-growing states nationwide.
Government data further substantiates this upward trajectory, revealing that Assam’s Gross State Domestic Product (GSDP) has consistently outperformed the national growth rate over the past several fiscal years. The data indicates growth rates of 21% in 2021–22, 17% in 2022–23, and 19% in 2023–24, with a projected growth of 13% for the current fiscal year, 2024–25.
The Chief Minister also pointed to the resounding success of the Advantage Assam 2.0 summit as a clear indicator of the state’s robust and promising economic trajectory, attracting significant interest and investment.
Furthermore, Assam has witnessed a substantial increase in its capital expenditure, soaring from ₹2,951 crore in the fiscal year 2015–16 to a projected ₹24,964 crore in the current fiscal year 2024–25. This massive expansion in developmental spending, according to Sarma, positions Assam as a leading state in terms of capital investment.
Underscoring the state’s sound financial standing, Chief Minister Sarma reported that Assam’s debt-to-GDP ratio currently stands at a healthy 25%. Additionally, the state boasts 17 profitable public sector undertakings (PSUs) that collectively contribute to a net wealth of ₹40,000 crore. The state also holds liquidable assets worth ₹58,000 crore, further bolstering its financial security.