Assam government under total loan debt of worth over Rs 1 lakh crore since 2016

The Assam government is under a total loan debt amounting to a total of Rs 1,09,071.22 crore since 2016. 

Replying to a query at the Assam Assembly today, state finance minister Ajanta Neog, with regards to the state government's loan debt, stated that all remaining loan debts owed by the state government will be repaid by 2025. 

Speaking at the floor of the house on the second day of the Budget Session of Assam Legislative Assembly, Ajanta Neog said that all debt regarding the state government's loans will be paid by 2025. 

"2001-2015 whatever loans were taken by the state government have been cleared off till date. Currently audit is underway for the remaining loan debt from 2023 which will be cleared off by the end of the year", said Ajanta Neog.

The Finance Minister, while replying to a query by Sivasagar MLA Akhil Gogoi, said that the total loans taken by the BJP govt from April 1, 2016, to 31st March 31, 2023, is Rs 1,09,071.22 crores. 

It has been revealed that the amount loan debt during the entire period of BJP rule in Assam since 2016, (under former CM Sarbananda Sonowal and current CM Himanta Biswa Sarma) the amount stands at Rs 1,09,071.22 crore. 

It was also stated that during the tenure of Sarbananda Sonowal it was Rs 66,020.65 crores from 2016 to 2021 which amounts to Rs 13,204.13 crores per year. And during the tenure of Himanta Biswa Sarma from 2021-23, the loans that were taken by the govt is Rs 43,050.57 crores which amounts to Rs 21,525.285 crores annually.

Noteworthy is that from April 1, 2023, till present date, the data was not provided by the government and during the debate in the Assembly today it has been revealed by the Finance Minister on the floor of the House. It has also been revealed that the Capital Expenditure amounts to only 7 per cent of the loans taken by the government from April 1, 2023, till date. 

Also Read: Assam government to clear off all loan debts by 2025, says minister Ajanta Neog 

It was also stated in the official document released by the Assam Assembly that the loans were undertaken for the implementation of various development schemes. 

It was also mentioned that the amount of loan debt amount of Rs 4,543 crore in 2014-15 has increased by four times in the year 2022-23 by Rs 1,6338 crore. Meanwhile, the loan debt that amounted to Rs 7,206 crore in 2015-16, while compared to this the loan debt increased by Rs 25902 crore in the year 2022-23. This amount includes the 50 years interest free CAPEX loan. 

It was also mentioned that on March 31, 2016, the total amount of loan on the Assam government Rs 35,690.22 crore. It has also been stated that since 2001-02 till 2013-14, the total loan undertaken stands at Rs 35,433 crore. From this, the loan that has been repaid till 2022-23 stands at Rs 22,790 crore. It was also stated that the remaining amount would be repaid within the stipulated time period. 

As against this data, the finance minister has stated in the Assembly today that the government is paying off all its loan debts on time and that the entire amount of loan debt would be paid off during the stipulated time period.