The Assam Assembly on Wednesday passed an amendment bill to increase its debt to Gross State Domestic Product (GSDP) ratio to 32% and enhance the additional borrowing ceiling by 0.50% of GSDP.
The Assam Fiscal Responsibility and Budget Management (AFRBM) (Amendment) Bill, 2022, was passed by voice vote after the Congress, AIUDF and lone Independent MLA in the House staged a walkout protesting against the rise in government loans.
With the passage of the bill, the Debt to GSDP ratio has been increased to 32% from the existing 28.5% for the next five financial years beginning from 2022-23.
