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Assam's growth rate declines, fiscal deficit, debts rose in 2019-20: CAG

-PTI/ Business Standard

Assam has recorded a decline in its growth rate while its fiscal deficit, outstanding debt and public debt have increased significantly at the end of 2019-20, a CAG report said

Guwahati: Assam has recorded a decline in its growth rate while its fiscal deficit, outstanding debt and public debt have increased significantly at the end of 2019-20, a Comptroller and Auditor (CAG) report on state finance for the period said on Friday.

The report, laid in the state Assembly on the last day of the Winter Session, said the GSDP of the state grew from Rs 2,27,959 crore in 2015-16 to Rs 3,51,318 crore (quick estimates) in 2019-20 with Compounded Annual Growth Rate (CAGR) of 11.42 per cent against the national CAGR of 10.37 per cent.

However, there was a decline in the growth rate from 16.47 per cent in 2015-16 to 11.22 per cent in 2019-20, it added.

It further said the state could achieve revenue surplus only during two years in the five year period from 2015-16 to 2019-20, and in containing the fiscal deficit below 3 per cent of GSDP in three out of five years in the same period.

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