Government loans are within limits fixed by Centre: Finance Minister Ajanta Neog

‘Dispur took Rs 1.02 lakh crore loans in ten years and paid Rs 34,961 crore in interest’

 STAFF REPORTER

GUWAHATI: Finance Minister Ajanta Neog has informed the State Assembly that the State Government took Rs 1.02 lakh crore in loans from various sources in the past ten years.

In a written reply to a question from AIUDF MLA Aminul Islam today, Neog said, “Taking loans by a government from various sources is a continuous process. The Central Government fixes the highest limit of loans a state government can take based on its GDP (gross domestic product). Under that fixed limit, the State Government is taking loans.”

She said, “During the period from 2012–13 to 2021–22, the State Government took around 1.02 lakh crore in loans from various sources. During the period, the State Government paid around Rs 34,961 crore in interest against the loan. We spend the loans that we take from the market on developmental schemes. We use the loans that we take from financial institutions for the development of infrastructure, especially in rural areas. We spend the loans that we take from the Central Government on the creation of assets. The loans that we take from the state PF (Provident Fund) go for the implementation of welfare schemes.”

She also told the Assembly that in 2020–21, the State Government had spent Rs 850 crore on the Orunodoi Scheme, Rs 1,825 crore in 2021–22, and Rs 2,501 crore in 2022–23.

Replying to a question from BJP MLA Teros Gowala on the revenue the State Government gets from tea estates, she said, “Under the Assam Goods and Services Tax Act, 2017, the State Government received around Rs 573 crore in revenue from tea estates in 2018-19, Rs 622 crore in 2019-20, Rs 924 crore in 2020-21, Rs 992 crore in 2021-22, and Rs 1063 crore in 2022-23.”

Under the Agriculture Income Tax head, the State Government did receive a good amount from the tea estates. However, after the exemption of this tax, this tax for the government is falling drastically. For instance, in 2014–15, the State government received Rs 51 crore and only Rs 1.9 crore in 2022–23.

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