Assam’s Debt Surges by Over 107% in Five Years: CAG Report

The Assam government’s debt more than doubled, increasing by 107% from ₹59,425.61 crore in 2018-19 to ₹1,23,214.80 crore in 2022-23, according to a CAG report. The rise is linked to increased market borrowings, with the debt-to-GSDP ratio climbing to 24.98%. The report also highlights a 20% decline in capital expenditure in FY’23 and a significant growth in public debt, which now constitutes 81.98% of total borrowing. Despite a 12.27% GSDP growth rate, the state only achieved a revenue surplus in two of the five years reviewed.