Guwahati, Sept 24: The Assam government has called for greater participation by banks in financing the wider industrial ecosystem, including MSMEs, vendors, transporters, component manufacturers and service providers in the state. Addressing the 13th SBI Banking & Economics Conclave at The Taj Mahal Palace in Mumbai, Finance Minister Jayanta Mallabaruah particularly emphasised cash-flow-based lending for first-generation entrepreneurs, saying banks could use verified digital trails such as GST data, digital payments, Udyam registration and invoices to assess businesses instead of relying only on traditional collateral.

1 per cent. 71 lakh crore,” he said.

Baruah said the government had proposed a Rs 2,000-crore Assam Industrial Momentum Fund and a High-Powered Industrial Promotion Board to strengthen industrial promotion. 0.

Sector-specific support has also been proposed for electronics and semiconductors, logistics and warehousing, aerospace and defence, and start-ups. “An Electronics City and Electronics Manufacturing Cluster is also being developed at Jagiroad,” he said.

69 lakh crore. 19 lakh crore, including Rs 42,449 crore from the state’s own resources and Rs 36,000 crore in own-tax revenue,” he said.

The Budget documents put total revenue receipts at Rs 1,18,562 crore, with Rs 42,449 crore coming from the state’s own resources. 258 per cent under the 16th Finance Commission for 2026-31.

The Union Budget 2026-27 provides approximately Rs 49,725 crore in tax devolution to Assam. Assam has budgeted a fiscal deficit of approximately Rs 26,186 crore, equivalent to 3 per cent of GSDP, while outstanding liabilities are estimated at around 24 per cent of GSDP, Mallabaruah said.

He also highlighted Assam’s improving road, rail, air and waterways connectivity, including the Brahmaputra and National Waterway-2, and said the state could emerge as a production and logistics platform for the Northeast and India’s engagement with neighbouring economies. “Assam today has economic momentum, a growing investment pipeline, improving infrastructure and a stronger institutional-credit environment.

But above all, we have our people, our human resources, who must ultimately become the greatest beneficiaries and drivers of this transformation,” he said. He also said the state’s industrial expansion needed to translate into employment and business opportunities for its young population.