Assam CM Sarma Highlights Economic Growth: Increased Bank Deposits, Lower Unemployment, and Rising GDP

Guwahati: Chief Minister Himanta Biswa Sarma said that statistics in the Economic Survey 2023–24 indicate that Assam is among the economically faster growing states.

Talking to the media here today, the CM said that in 2021, cash deposits in banks in Assam were Rs 1.73 lakh crore, which increased in 2024 to Rs 2.24 lakh crore, indicating an increase of around 30% in deposits. Against the deposits in 2021, the banks gave credit of around Rs 80,000 crore, which increased to Rs 1.27 lakh crore in 2024. The credit-deposit ratio (CDR) in Assam until recently was 32% on average. This has now jumped to 58%, he said.

In 2022–23, the unemployment rate in Assam was 8%, which has now decreased to 6.1%. On the other hand, the labour participant rate in 2022–23 was 36.5%, which has now increased to 40.9%. Similarly, the state’s GDP has grown and capital expenditure has increased, factors that indicate that Assam is growing fast economically, the CM asserted. The CM said, “For the first time, in relation to the floods, it was stated in the budget that Assam is suffering from water flowing in from outside. The Government of India has realized the gravity of Assam’s flood problem and will tackle the problem accordingly. For flood-related work, the Centre has released Rs 4,800 crore. In the future, we will get more funds, but it is difficult to say at this stage how much more money we will need to tackle the flood situation.”

He further said, “From the amount of Rs 1000 crore announced by the Centre for the Welfare of Tea Garden Workers in 2021, Assam will get Rs 685 crore. The tea workers in the state will greatly benefit from this. For the Jal Jeevan Mission (JJM) schemes, an allocation of Rs 70,000 crore has been made for the state in the Union Budget. Similarly, we will get another Rs 20,000 for the PM Awas Yojana. One crore internships for the youth have been announced in the budget recently, and I have requested the Finance Minister to allocate a substantial share of this for the youth of Assam.”

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