GUWAHATI: Assam Chief Minister Himanta Biswa Sarma on Friday said in the Assembly that the total expenditure for the state has crossed Rs one lakh crore for the first time in 2021-22, placing it in the league of 'big states' with high spending capacity.
He also said that during 2015-16 to 2019-22, the state has achieved an annual average growth rate of 8.9 per cent in terms of gross state domestic product (GSDP) at a constant price, which is higher than the average GDP growth of the country at 6.7 per cent.
"The total expenditure of Assam has crossed the Rs one lakh crore-mark during 2021-22 and its total expenditure is likely to be over Rs 1,02,000 crore for the first time in the history of Independent India," Sarma said.
"This has put us in the league of the big states which has the capacity to make large spendings," he added.
Excluding COVID-hit 2020-21, Assam's total expenditure has grown on an average of 20.9 per cent per year from Rs 41,931 crore in 2015-16 to Rs 1,02,097 crore in 2021-22.
Similarly, the capital expenditure has also increased from Rs 2,951 crore in 2015-16 to Rs 16,339 crore in 2021-22, thereby registering a growth of 36.
8 per cent at an average, including the negative growth recorded during 2020-21 due to the pandemic, the chief minister said.
He also said the revenue expenditure has also increased to Rs 74,400 crore in 2020-21 from Rs 37,011 crore in 2015-16, recording a slower growth at 16 per cent.
He said, "We have restored the balance between capital expenditure and revenue expenditure, which was a long-felt need in Assam."
He also said that during the period 2015-16 to 2019-22, the state has achieved annual average growth rate of 8.9 per cent in terms of GSDP at a constant price, which is higher than the average GDP growth of the country at 6.7 per cent.
"Our growth rate during the last three years is higher than the national average. During 2020-21, the state had achieved a near positive growth despite the COVID-19 repercussions. Ours is among the few states which has achieved positive growth in the last financial year. During 2021-22, Assam is again likely to record a significant growth of 9.1 per cent," Sarma said.
The chief minister claimed that the state has been able to significantly rationalise its non-development expenditure and increase capital expense.
He said, "The Government of Assam has been able to meet the significant increase in revenue and capital expenditure through increased transfer from Government of India towards tax devolution, finance commission grant and other grants in addition to the special assistance for capital expenditure during 2020-21."
Central transfer to the state through tax devolution as well as other transfers, including toward externally aided projects, have also registered increase over the years, he added.
He also underlined that the state has not utilised its full capacity for borrowing as it has adopted constructive and conductive measures to boost its own revenue earnings.