Guwahati, Aug 31: A report by the Comptroller and Auditor General (CAG) has exposed an alarming 107% increase in the Assam government’s outstanding debt from 2018-19 to 2022-23. The report, tabled in the state assembly on Friday, highlights a significant surge in borrowing from the open market, causing public debt to balloon to 81.98% of total borrowing.

The state’s outstanding debt has risen from Rs 59,425.61 crore in 2018-19 to Rs 1,23,214.80 crore in 2022-23, with the liability growth rate increasing from 20.60% to 23.32% over the same period. This drastic increase is expected to put pressure on interest payments.

Furthermore, the report reveals a 20% drop in capital expenditure in FY’23 compared to the previous year, raising concerns about the state’s fiscal management. The CAG’s findings have sparked concerns about the Assam government’s financial health and its ability to manage its debt burden.