Guwahati, 6th February: During the Budget Session of the Assam Legislative Assembly, state Finance Minister Ajanta Neog addressed queries regarding the government’s total loan debt, which amounts to Rs 25,902.16 crore since 2016. Neog assured that all remaining loan debts would be repaid by 2025, highlighting the government’s commitment to financial responsibility.
Neog provided insights into the state’s loan debt, revealing that loans undertaken from the fiscal year 2016-17 to 2022-23, currently under audit, totaled Rs 25,902.16 crore. Notably, this period coincides with the tenure of both former Chief Minister Sarbananda Sonowal and current Chief Minister Himanta Biswa Sarma.
Data released by the Assam Assembly showcased the loan debt incurred during each fiscal year, with amounts ranging from Rs 5,649.45 crore in 2016-17 to Rs 17,148.41 crore in 2021-22. Neog emphasized that these loans were utilized for implementing various development schemes aimed at bolstering the state’s infrastructure and welfare programs.
The official document further highlighted the significant increase in loan debt over the years, with amounts rising from Rs 4,543 crore in 2014-15 to Rs 1,15,751 crore as of March 31, 2023. Neog reassured the Assembly that the government is diligently repaying its loan debts and remains committed to clearing the entire amount within the stipulated timeframe.
Despite the notable increase in loan debt, Neog reiterated the government’s efforts to manage its finances responsibly while ensuring continued investment in developmental initiatives. The commitment to timely repayment reflects the state’s dedication to fiscal discipline and financial stability.
As the fiscal year 2022-23 remains under audit, Neog’s statement underscores the importance of transparency and accountability in managing the state’s finances. The assurance provided by the Finance Minister instills confidence in the government’s ability to honor its financial obligations and sustainably manage its debt burden.
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