Guwahati, February 19 Assam Chief Minister Himanta Biswa Sarma stated on Thursday that the state will, for the first time in its history, be able to pay salaries and pension bills entirely from its own tax devolution in the 2026-27 fiscal year.
During the Motion of Thanks on the Governor's Address in the Assam Assembly, Sarma also said that the state will become a Rs 10 lakh crore economy by the 2027-28 financial year, two years ahead of its own target.
"In previous Finance Commission (FC) devolution allocations, Assam's share was shrinking, and it remained around three per cent. The 16th FC decided the state's share based on its contribution to the country's GDP. Accordingly, our devolution increased to 3.25 per cent," he said.
Sarma told the House that Assam will receive nearly Rs 50,000 crore as tax devolution in 2026-27.
"We will be able to completely pay the salaries and pensions of our employees through tax revenue. This is happening for the first time in 77 years that salary bills will be paid by our own tax revenue," he added.
Assam will require around Rs 48,000 crore in the next fiscal year to pay salaries and pensions to its working and retired employees, the CM said.
"In addition to the tax devolution, our own tax collection will be around Rs 30,000 crore in the next financial year," he added.
For the fiscal year 2026-27, the Union Budget has allocated Rs 49,725 crore towards tax devolution to Assam.
Sarma further stated that Assam had set a target to become a Rs 10 lakh crore economy by 2030.
"Next year, we will have an economy of Rs 8.71 lakh crore. I am happy to announce that Assam will achieve the significant milestone of a Rs 10 lakh crore economy in 2027-28, two years ahead of our target," he added.
The CM said that according to the RBI, the Indian economy grew by 29 per cent during 2021-2025, while Assam grew by 45 per cent in the same period.
"Today, Assam is officially recognized as the fastest-growing economy in the country. Previously, we were considered the fastest-growing in the Northeast only. This is a matter of pride for me," he added.
Sarma said that the per capita income of the state also rose to Rs 1,85,429 in 2025-26 from Rs 86,947 in 2020-21.
"The gap with West Bengal in per capita income is narrowing. I believe that in the next one year, we will be able to surpass West Bengal in per capita income," he added.
