Assam tables Rs 62,294.78 Cr interim budget; eyes Rs 10L Cr economy by 2028
Finance Minister Ajanta Neog said Assam’s GSDP grew 45% in past five years, far outpacing national average growth of 29%
Ajanta Neog poses with CM Sarma and Ministers before presenting the budget. (Photo - @himantabiswa / X)
Guwahati, Feb 17: The Assam government, on Tuesday, tabled a Rs 62,294.78 crore interim budget for the financial year 2026–27, seeking a Vote on Account to meet expenditure for the initial months ahead of the Assembly polls.
Finance Minister Ajanta Neog tabled the budget in the state Assembly, outlining the government’s economic achievements and growth trajectory while projecting a robust outlook for the state’s economy.
“I seek a vote on account on the demands for grants for the initial months of the financial year 2026–27, amounting to Rs 62,29,478.30 lakh, to ensure that governance and welfare services continue uninterrupted,” she stated, in her 65-minute budget speech.
Highlighting Assam’s growth momentum, Neog said the state is currently the fastest-growing in the country as per data from the Reserve Bank of India.
She asserted that the state’s economic expansion over the past few years has significantly outpaced the national average.
According to the Finance Minister, Assam’s Gross State Domestic Product (GSDP) at constant prices expanded by 45% between 2019–20 and 2024–25, compared to the national average growth of 29% during the same period.
The government projected that Assam is on track to achieve a Rs 10-lakh-crore economy by 2028, ahead of its earlier target of 2030.
Neog also highlighted the sharp rise in per capita income, which, she said, has more than doubled over the past five years.
“The per capita income has increased from Rs 86,947 in 2020–21 to Rs 1,85,429 in 2025–26, marking a growth of 113%,” she said, attributing this to industrial expansion, infrastructure development and increased investments.
The interim budget presentation comes amid the government’s claims of improved fiscal discipline and efficient utilisation of funds.
As reflected in the data shared, budget utilisation has risen sharply from 58% in 2015–16 to 85% in 2024–25, indicating stronger implementation of development schemes and better administrative efficiency.
Neog said the government’s focus on infrastructure, connectivity, industry, and welfare schemes has driven Assam’s economic growth and positioned it as a key contributor to India’s growth story.
She stressed that sustained reforms, investments and policy stability will further accelerate growth in the coming years.
PTI