The Congress party has raised alarms over the rapid borrowing practices of the Assam government under Chief Minister Himanta Biswa Sarma, revealing that the state took loans totaling Rs 2,250 crore within just 22 days (from September 17 to October 8).
Assam Congress President Bhupen Borah highlighted this during a press briefing, questioning the fiscal management of the state and demanding transparency on how these funds are being allocated.
Borah also drew a comparison, stating that from 1947 to 2016, Assam accumulated Rs 41,964 crore in loans, but under the Sonowal-led BJP government, the figure escalated to Rs 66,000 crore, raising concerns about the state’s growing debt burden.
According to state Finance Minister Ajanta Neog, Assam borrowed Rs 12,753 crore for development projects in the 2021-2022 fiscal year, and opposition parties claim that the state’s total outstanding debt now stands at over Rs 1.34 lakh crore.
Opposition parties allege that despite the large borrowings, the government has struggled to clear dues amounting to Rs 22,000 crore to contractors, further amplifying concerns about financial management.
This rise in borrowings has sparked debates over the sustainability of Assam’s fiscal policies, especially as the state aims to boost its GDP by investing in infrastructure.
The government has defended its borrowing under the Fiscal Responsibility and Budget Management (FRBM) Act, claiming it is essential for development.