Assam’s Public Debt Doubles in Four Years: CAG Warns of Fiscal Risk

Assam’s outstanding debt has surged by over 103%, rising from ₹72,256 crore in 2019-20 to ₹1,46,927 crore in 2023-24, according to a CAG report tabled in the Assembly. The debt-to-GSDP ratio also increased from 20.83% to 25.77% due to higher market borrowings.

The report advised the government to boost revenue generation and control expenditure to avoid future repayment pressure. It noted that the State will need to repay nearly 99% of its current debt, along with interest, within the next 10 years.

The CAG also flagged undisclosed off-budget borrowings and warned that continued reliance on such mechanisms could distort the State’s true financial position.