GUWAHATI | Assam has received investment proposals exceeding Rs 5 lakh crore, marking a significant shift in the state’s economic landscape, Finance Minister Jayanta Mallabaruah said during a pre-budget consultation meeting organised by the Assam BJP in Guwahati on June 24.

The consultation brought together economists, academicians, entrepreneurs, industry leaders and representatives from various sectors to provide inputs for the preparation of the upcoming Assam Budget.

Addressing the gathering, Mallabaruah said the state government is committed to preparing a pragmatic, growth-oriented and people-centric budget by incorporating suggestions from stakeholders across different sectors. He noted that the implementation rate of budgetary allocations under the current government has reached nearly 90 per cent and expressed confidence that efforts would continue to ensure effective execution of development programmes.

Highlighting Assam’s changing investment climate, the Finance Minister said that attracting investments worth even Rs 1-2 crore had once been a challenge, but the state has now emerged as a preferred destination for large-scale industrial investments.

“Assam has received investment proposals worth more than Rs 5 lakh crore,” Mallabaruah said, underscoring the state’s growing appeal to investors.

He also pointed to Assam’s rising prominence on the national stage, noting that Prime Minister Narendra Modi has visited the state more than 35 times in recent years. According to the minister, the frequent visits reflect the Centre’s increasing focus on Assam’s development and strategic importance.

Mallabaruah further highlighted developments in the semiconductor sector, stating that following the establishment of a semiconductor manufacturing unit in the state, plans are underway for two additional semiconductor facilities. He said these projects are expected to strengthen Assam’s position as an emerging hub for advanced manufacturing and technology-driven industries.

Speaking at the event, Assam BJP president Dilip Saikia said the state’s economy has witnessed substantial growth between the financial years 2014-15 and 2024-25. He credited Chief Minister Himanta Biswa Sarma’s leadership for accelerating economic transformation, addressing public concerns and creating a foundation for sustained long-term growth.

Saikia said Assam is steadily progressing towards becoming one of India’s leading states and added that its development trajectory aligns with Prime Minister Modi’s vision of a “Viksit Bharat”.

The consultation also featured recommendations from industry and academic leaders. Abhijit Baruah, Managing Director of Assam Air Products, called for greater support to the micro, small and medium enterprises (MSME) sector and proposed launching a “Make in Assam” initiative on the lines of the Centre’s “Make in India” programme. He also suggested increasing the use of bamboo and cane-based products in government infrastructure projects.

Meanwhile, Cotton University Vice-Chancellor Prof. Ramesh Chandra Deka urged the government to prioritise investment in higher education infrastructure, while entrepreneur Akashjyoti Gogoi, Managing Director of Bahubali, recommended insurance subsidies for small poultry and egg-producing farms to encourage growth in the sector.

The meeting was attended by representatives of financial institutions, universities, business organisations and professional bodies, along with Cabinet ministers, Members of Parliament and senior BJP leaders.

The suggestions received during the consultation are expected to be considered while formulating the state budget, which the government says will focus on balancing economic growth, industrial expansion and public welfare.