<p>Assam Chief Minister Himanta Biswa Sarma on Wednesday said the state will borrow nearly Rs 11,000 crore in the near future to implement various projects, while the gross state domestic product (GSDP) is likely to grow by 12.5 per cent during 2021-22.</p>.<p>Replying to a heated discussion in the assembly over the state's rising debt, Sarma said Assam's borrowings are within limit and the debt-to-GDP ratio is 22 per cent, which is the lowest in the country.</p>.<p>Despite criticism from the Congress, AIUDF, CPI(M), and the Raijor Dal, he said the state is mulling raising more debt in the near future to implement capital expenditure projects.</p>.<p>The chief minister said, "We have already negotiated to raise Rs 5,000 crore loan to construct 1,900 bridges on our rivers. To add super speciality blocks in each medical college of the state, we will borrow another Rs 3,000 crore.</p>.<p>"To build and upgrade the district hospitals where there are no medical colleges, we will take a debt of Rs 2,500 crore. To construct a road from Sivasagar to Charaideo, we will borrow Rs 250 crore. We are also talking to ADB to take loans for four embankments."</p>.<p>He said the total borrowing during 2021-22 will be Rs 14,000 crore against the assembly nod of Rs 16,000 crore and Rs 7,500 crore have been raised so far in this fiscal. The state will also repay Rs 2,500 crore this year.</p>.<p>"Next year, we plan to borrow Rs 18,000 crore and Rs 22,000 crore in the successive year. Till last year, the debt-to-GDP ratio was 19 per cent and it will be around 22 per cent in this fiscal. This is the lowest in the country. We are expecting the GSDP to touch Rs 4,15,000 crore this year," he added.</p>.<p>Sarma claimed that the debt-to-GDP ratio in opposition ruled states is “very high’. The ratio is 33 per cent in Rajasthan, 35 per cent in West Bengal, and 52.5 per cent in Punjab, the chief minister said.</p>.<p>"Kerala is a Leftist state and it took the highest loan. The Kerala finance minister asked me to take loans up to 4.5 per cent of GSDP. Kerala's debt-to-GDP ratio is 55 per cent, but we consider it as a model state. The health sector of that state is a model and we all follow it," he added.</p>.<p>The chief minister slammed the opposition for questioning the government over its debt management and said that the House had unanimously allowed the government to borrow up to 3.5 per cent of Assam's GSDP.</p>.<p>"Then why are you questioning us now on taking loans? We are well within that limit. Our state GDP has grown very fast in the last three years and this year we will probably grow by 12.5 per cent despite the impact of Covid-19," he added.</p>.<p>Sarma said that Assam will spend around Rs 96,000-1,00,000 crore in 2021-22 and only Rs 14,000 crore of that amount will be in the form of debt.</p>.<p>"We are taking debt because our assets are increasing. We are boldly returning our loans without a single-day default. We are comfortable with our loans and our tax-GDP ratio is also stable," he added.</p>.<p>The chief minister said Assam will have to take debt if it wishes to progress and for raising borrowings, the state needs permission from the Centre, state assembly, and the RBI.</p>.<p>"I think it is a deliberate conspiracy to talk about loans so that Assam moves backward. But as long as I am there and BJP is in the government, we will take loans and develop the state," he added.</p>.<p>The chief minister informed the House that the current debt of Assam stands at Rs 84,000 crore, while the same is Rs 5,35,000 crore in West Bengal, Rs 2,74,000 crore in Kerala, and Rs 2,82,000 crore in Punjab.</p>.<p>"Let there be a five-member House committee to visit different states like Karnataka and Kerala. Let the team meet the finance ministers of these states and ask them why they have taken so much debt," he told the Speaker.</p>.<p>On Independent MLA Akhil Gogoi's demand, Sarma said he will present a 'White Paper' on the state's debt and financials during the next session of the Assembly.</p>.<p>"Today is a historic day. The Assam CM helplessly accepted that the state is running on loans. The per capita income of Assam is Rs 60,600, while the same for Goa is over Rs 3,00,000. Assam's position among the 33 states is at 27," Gogoi said, evoking sharp reactions from the ruling MLAs.</p>.<p>CPI(M)'s Manoranjan Talukdar said Kerala, Maharashtra, and Punjab, which have borrowed huge amounts of money, are strong states and have created infrastructure, which is not seen in Assam. Finance Minister Ajanta Neog said Assam witnessed the highest ever tax collection in its history from 2015-16 to 2019-20 and GST collection witnessed 40 per cent growth during the second wave of the Covid-19 pandemic.</p>.<p>Earlier, Congress MLA Kamalakhya Dey Purkayastha criticised the government for "destroying" all assets of the state, inviting vociferous protests from the treasury bench. "There is only revenue expenditure and nothing on the front of CAPEX. There is no money in the MLA fund and development has stopped. Nowadays, politics is being played over language and religion," he added. AIUDF's Aminul Islam said the state's economy is on "oxygen support". </p>.<p><strong>Watch the latest DH videos:</strong></p>
<p>Assam Chief Minister Himanta Biswa Sarma on Wednesday said the state will borrow nearly Rs 11,000 crore in the near future to implement various projects, while the gross state domestic product (GSDP) is likely to grow by 12.5 per cent during 2021-22.</p>.<p>Replying to a heated discussion in the assembly over the state's rising debt, Sarma said Assam's borrowings are within limit and the debt-to-GDP ratio is 22 per cent, which is the lowest in the country.</p>.<p>Despite criticism from the Congress, AIUDF, CPI(M), and the Raijor Dal, he said the state is mulling raising more debt in the near future to implement capital expenditure projects.</p>.<p>The chief minister said, "We have already negotiated to raise Rs 5,000 crore loan to construct 1,900 bridges on our rivers. To add super speciality blocks in each medical college of the state, we will borrow another Rs 3,000 crore.</p>.<p>"To build and upgrade the district hospitals where there are no medical colleges, we will take a debt of Rs 2,500 crore. To construct a road from Sivasagar to Charaideo, we will borrow Rs 250 crore. We are also talking to ADB to take loans for four embankments."</p>.<p>He said the total borrowing during 2021-22 will be Rs 14,000 crore against the assembly nod of Rs 16,000 crore and Rs 7,500 crore have been raised so far in this fiscal. The state will also repay Rs 2,500 crore this year.</p>.<p>"Next year, we plan to borrow Rs 18,000 crore and Rs 22,000 crore in the successive year. Till last year, the debt-to-GDP ratio was 19 per cent and it will be around 22 per cent in this fiscal. This is the lowest in the country. We are expecting the GSDP to touch Rs 4,15,000 crore this year," he added.</p>.<p>Sarma claimed that the debt-to-GDP ratio in opposition ruled states is “very high’. The ratio is 33 per cent in Rajasthan, 35 per cent in West Bengal, and 52.5 per cent in Punjab, the chief minister said.</p>.<p>"Kerala is a Leftist state and it took the highest loan. The Kerala finance minister asked me to take loans up to 4.5 per cent of GSDP. Kerala's debt-to-GDP ratio is 55 per cent, but we consider it as a model state. The health sector of that state is a model and we all follow it," he added.</p>.<p>The chief minister slammed the opposition for questioning the government over its debt management and said that the House had unanimously allowed the government to borrow up to 3.5 per cent of Assam's GSDP.</p>.<p>"Then why are you questioning us now on taking loans? We are well within that limit. Our state GDP has grown very fast in the last three years and this year we will probably grow by 12.5 per cent despite the impact of Covid-19," he added.</p>.<p>Sarma said that Assam will spend around Rs 96,000-1,00,000 crore in 2021-22 and only Rs 14,000 crore of that amount will be in the form of debt.</p>.<p>"We are taking debt because our assets are increasing. We are boldly returning our loans without a single-day default. We are comfortable with our loans and our tax-GDP ratio is also stable," he added.</p>.<p>The chief minister said Assam will have to take debt if it wishes to progress and for raising borrowings, the state needs permission from the Centre, state assembly, and the RBI.</p>.<p>"I think it is a deliberate conspiracy to talk about loans so that Assam moves backward. But as long as I am there and BJP is in the government, we will take loans and develop the state," he added.</p>.<p>The chief minister informed the House that the current debt of Assam stands at Rs 84,000 crore, while the same is Rs 5,35,000 crore in West Bengal, Rs 2,74,000 crore in Kerala, and Rs 2,82,000 crore in Punjab.</p>.<p>"Let there be a five-member House committee to visit different states like Karnataka and Kerala. Let the team meet the finance ministers of these states and ask them why they have taken so much debt," he told the Speaker.</p>.<p>On Independent MLA Akhil Gogoi's demand, Sarma said he will present a 'White Paper' on the state's debt and financials during the next session of the Assembly.</p>.<p>"Today is a historic day. The Assam CM helplessly accepted that the state is running on loans. The per capita income of Assam is Rs 60,600, while the same for Goa is over Rs 3,00,000. Assam's position among the 33 states is at 27," Gogoi said, evoking sharp reactions from the ruling MLAs.</p>.<p>CPI(M)'s Manoranjan Talukdar said Kerala, Maharashtra, and Punjab, which have borrowed huge amounts of money, are strong states and have created infrastructure, which is not seen in Assam. Finance Minister Ajanta Neog said Assam witnessed the highest ever tax collection in its history from 2015-16 to 2019-20 and GST collection witnessed 40 per cent growth during the second wave of the Covid-19 pandemic.</p>.<p>Earlier, Congress MLA Kamalakhya Dey Purkayastha criticised the government for "destroying" all assets of the state, inviting vociferous protests from the treasury bench. "There is only revenue expenditure and nothing on the front of CAPEX. There is no money in the MLA fund and development has stopped. Nowadays, politics is being played over language and religion," he added. AIUDF's Aminul Islam said the state's economy is on "oxygen support". </p>.<p><strong>Watch the latest DH videos:</strong></p>