Guwahati: The Chairman of Ministry of Himanta Buswa Sarma, faced with an accusation of opposition which because the deterioration of the financial health of the state government pushed the debt burden, on Wednesday told the house that the accountant General said “stable debt-GDP ratio.” Sarma shows that the planned Assam loan was only a small part of the total expenditure that he was made in that year.
“This year, we will spend between Rs 1 Lakh Crore and Rs 96,000 Crore and our loan components are only Rs 14,000 Crore.
This loan is intended to build our capital project.
We need to take more loans for capital expenditure if we match the countries others, “he said.
Giving an instance, Sarma told the house, “We have a target to build medical colleges in each district but if you do not allow me to take a loan for the capital project, this cannot happen.
Capital investment will make Assam Richer,” he said.
“In the last 70 years, we are stuck with only three medical colleges because of such a conservative attitude.
We have changed this government policy because people have chosen us for this,” he added.
“Those (critics) talk about loans in terms of absolute number but (in terms of percentage) our loans are the same as the previous Congress government,” Sarma said and added that the accusations said to the government seeking to mislead people and conspiracies to thwart the ongoing development process .
“We are a growing economy and in a convenient position to take loans.
This house takes place April unanimously increases the border form of 3% of the 3% of the country’s GDP.
In the past three years, our GDP has soared and this year Maybe it will end up with a 12.5% ​​growth.
This is not a small achievement at the time of a pandemic, “Sarma said.
He added, “We are in a convenient position to take loans and we will take more loans for our capital investment and not for income expenditure.
This house last April has ratified the loan limit of the RS 16,000 Crore.
But, I took Rs 14,000 Crore .
Next year, I will take RS 18,000 crore and in the year after that, it will take a loan of Rs 22,000 Crore as guided by 3.5% of the country’s GDP formula.
“The national boundary to borrow will change with changes in the country’s GDP – higher in the country’s GDP , higher will be a loan limit because it is calculated as 3.5% of the country’s GDP, Sarma said.
“As long as Himanta Buswa Sarma is the main minister, he is proud to take a loan and return it proudly too.
This year I will pay Rs 25,000 Crore,” he said.
Sarma explained that loans by countries are regulated by Article 293 of the Constitution.
The state cannot take loans without separate approval from each legislative assembly, the Central Government and Indian reserve banks.