Assam received investment proposals worth over Rs 5 lakh crore: Jayanta Mallabaruah

The Assam BJP on Wednesday, June 24 organised a pre-budget consultation meeting in Guwahati, bringing together economists, academicians, entrepreneurs, industry leaders and representatives from various sectors to gather suggestions ahead of the preparation of the upcoming Assam Budget.

Addressing the consultation, Assam BJP president Dilip Saikia said Assam’s economy has recorded significant growth between the financial years 2014–15 and 2024–25. He credited the leadership of Chief Minister Himanta Biswa Sarma for accelerating the state’s economic transformation, addressing public concerns and laying the foundation for sustained long-term development.

Saikia stated that Assam is steadily advancing towards becoming one of India’s leading states and said the state’s economic progress aligns with Prime Minister Narendra Modi’s vision of a “Viksit Bharat”.

Delivering the keynote address, Assam Finance Minister Jayanta Mallabaruah said the government aims to prepare a pragmatic, people-centric and growth-oriented budget by incorporating suggestions from stakeholders across multiple sectors.

He said the implementation rate of budgetary allocations under the current government has reached around 90 per cent and expressed confidence that the administration would continue efforts to ensure complete and effective execution of development initiatives.

Highlighting Assam’s growing prominence at the national level, Mallabaruah said the state has received greater attention from the Centre in recent years. He noted that Prime Minister Narendra Modi has visited Assam more than 35 times, which he said reflected the state’s increasing strategic and developmental importance.

The Finance Minister also pointed to a changing investment climate in Assam, stating that while attracting investments worth Rs 1–2 crore had once been challenging, the state has now received investment proposals exceeding Rs 5 lakh crore.

He further said that following the establishment of a semiconductor manufacturing unit in the state, two additional semiconductor facilities are expected to be developed, strengthening Assam’s position as an emerging destination for advanced manufacturing and industrial investment.

During the consultation, participants presented a range of recommendations for consideration in the upcoming budget.

Abhijit Baruah, Managing Director of Assam Air Products, called for enhanced focus on the MSME sector and proposed the launch of a “Make in Assam” initiative modelled on the Centre’s “Make in India” programme. He also recommended increasing the use of bamboo and cane products in government infrastructure projects.

Cotton University Vice-Chancellor Prof. Ramesh Chandra Deka urged the government to strengthen investment in higher education infrastructure, while Akashjyoti Gogoi, Managing Director of Bahubali, proposed insurance subsidies for small poultry and egg-producing farms to support the sector’s growth.

The consultation was attended by representatives of financial institutions, universities, business organisations and professional bodies, along with Cabinet ministers, Members of Parliament and senior BJP leaders.

Suggestions gathered during the meeting are expected to be taken into consideration during the formulation of the forthcoming Assam Budget.