Currency | Indian rupee (INR, ₹) |
---|---|
1 April – 31 March | |
Country group |
|
Statistics | |
GDP | ₹6.43 lakh crore (US$77 billion) (2024–25 est.) [3] |
GDP rank | 17th |
GDP growth | 10.2% (2022-23 est.) [3] |
GDP per capita | ₹182,600 (US$2,200) (2024-25) [3] |
GDP per capita rank | 28th |
GDP by sector | Agriculture 25% Industry 30% Services 45% (2021-22) [3] |
Population below poverty line | 31.98% in poverty (2017–18) [4] |
0.597 medium (2018) (30th) | |
Unemployment | 4.0% (Nov 2020) [5] |
Public finances | |
25.74% of GSDP (2022-23 est.) [3] | |
₹−15,354 crore (US$−1.8 billion) (3.19% of GSDP) (2022-23 est.) | |
Revenues | ₹99,674 crore (US$12 billion) (2022-23 est.) [3] |
Expenses | ₹1.15 lakh crore (US$14 billion) (2022-23 est.) [3] |
All values, unless otherwise stated, are in US dollars. |
The Economy of Assam is largely agriculture based with 69% of the population engaged in it.
The economy of Assam today represents a unique juxtaposition of backwardness amidst plenty. [6] Growth rate of Assam's income has not kept pace with that of India's during the Post-British Era; differences increased rapidly since the 1970s. [7] While the Indian economy grew at 6 percent per annum over the period of 1981 to 2000, the same of Assam's grew only by 3.3 percent. [8] In the Sixth Plan period Assam experienced a negative growth rate of 3.78 percent against a growth rate of 6 percent of India's. [7] In the post-liberalised era (after 1991), the gaps between growth rates of Assam's and India's economy widened further.
In the current decade, according to recent analysis, Assam's economy is showing signs of improvement. In the year 2001–2002, the economy grew in 1993-94 constant prices at 4.5 percent, falling to 3.4 percent in the next financial year. [9] During 2003-2004 and 2004–2005, in the same constant prices, the economy grew more satisfactorily at 5.5 and 5.3 percent respectively. [9] The advanced estimates placed the growth rate for the year 2005–2006 at above 6 percent. [10]
In the 1950s, soon after the independence, per capita income in Assam was little higher than that in India; [11] it is much lower today. In the year 2000–2001, per capita income in Assam was INR 6,157 at constant prices (1993–94) and INR 10,198 at current prices, which is almost 40 percent lower than that in India. [12] According to the recent estimates, [10] per capita income in Assam at 1993-94 constant prices has reached INR 6520 in 2003-2004 and INR 6756 in 2004–2005, which is still much lower than the same of India.
This is a chart of trend of gross state domestic product of Assam at market prices estimated by Ministry of Statistics and Programme Implementation with figures in millions of Indian Rupees.
Year | Gross State Domestic Product |
---|---|
1980 | 25,160 |
1985 | 56,730 |
1990 | 106,210 |
1995 | 194,110 |
2000 | 314,760 |
Assam's gross state domestic product for 2004 is estimated at $13 billion in current prices.
Sectoral analysis again exhibits a dismal picture. The average annual growth rate of agriculture, which was only 2.6 percent per annum over 1980s fell to 1.6 percent in the 1990s. [13] The manufacturing sector showed some improvement in the 1990s with a growth rate of 3.4 percent per annum than 2.4 percent in the 1980s. [13] In the past five decades, the tertiary sector has registered the highest growth rates than the primary and secondary sectors, which have slowed more in the 1990s than in the 1980s. [13]
Agriculture accounts for more than a third of Assam's income [11] and employs 69 percent of total workforce. [14] Assam's biggest contribution to the world is its tea. Assam produces some of the finest and most expensive teas in the world. Other than the Chinese tea variety Camellia sinensis , Assam is the only region in the world that has its own variety of tea, called Camellia assamica . Assam tea is grown at elevations near sea level, giving it a malty sweetness and an earthy flavor, as opposed to the more floral aroma of highland (e.g. Darjeeling, Taiwanese) teas. Assam also accounts for fair share of India's production of rice, rapeseed, mustard, jute, potato, sweet potato, banana, papaya, areca nut and turmeric. Assam is also a home of large varieties of citrus fruits, leaf vegetables, vegetables, useful grasses, herbs, spices, etc. which are mostly subsistence crops.
Given below is a table of 2015 national output share of select agricultural crops and allied segments in Assam based on 2011 prices [15]
Segment | National Share % |
---|---|
Tea | 60.0 |
Pineapple | 18.1 |
Arecanut | 14.8 |
Narcotics | 12.7 |
Jackfruit | 10.4 |
Garlic | 9.8 |
Ginger | 9.3 |
Cabbage | 9.1 |
Inland fish | 9.0 |
Radish | 8.5 |
Cucumber | 7.4 |
Orange | 7.0 |
Niger seed | 6.5 |
Litchi | 6.1 |
Carrot | 6.0 |
Jute | 5.9 |
Condiments and spices | 5.6 |
Coffee | 5.3 |
Betel | 5.1 |
Bitter gourd | 5.1 |
Assam's agriculture has yet to experience modernisation in a real sense and is lagging behind. [11] With implications to food security, per capita food grain production has declined in past five decades. [16] On the other hand, although productivity of crops increased marginally, still these are much lower in comparison to highly productive regions. For instance, yield of rice, which is staple food of Assam, was just 1531 kg per hectare against India's 1927 kg per hectare in 2000-2001 [16] (which itself is much lower than Egypt’s 9283, United States's 7279, South Korea’s 6838, Japan's 6635 and China's 6131 kg per hectare in 2001 [17] ). On the other hand, although having a strong domestic demand, 1.5 million hectares of inland water bodies and numerous rivers and streams and 165 varieties of fishes, [18] fishing is still in its traditional form and production is not self-sufficient. [19]
Assam is a major producer of crude oil and natural gas in India. [11] It was placed as the second in the world, (after Titusville in the United States) where petroleum was discovered. Asia's first successful mechanically drilled oil well was drilled in Makum (Assam) way back in 1867. The second oldest oil well in the world still produces crudes oil. Most of the oilfields of Assam are located in the Upper Assam region of the Brahmaputra Valley. Assam has four oil refineries located at Guwahati, Digboi, Numaligarh and Bongaigaon with a total capacity of 7 million tonnes per year. The Bongaigaon Refinery and Petrochemicals Limited (BRPL) is the only S&P CNX 500 conglomerate with a corporate office in Assam. [20] One of the biggest public sector oil company of the country, Oil India Ltd., has its plant and headquarters in Duliajan. [21]
Apart from tea and petroleum refineries, [11] Assam has few industries of significance. Industrial development is inhibited by its physical and political isolation from neighbouring countries such as Myanmar, China and Thailand and from the other growing South East Asian economies. The region is landlocked and situated in the easternmost periphery of India and is linked to the central India by a flood and cyclone prone narrow corridor with weak transportation infrastructure. The international airport in Guwahati finds airlines providing better direct international flights. The Brahmaputra suitable for navigation does not have sufficient infrastructure for international trade and success of such a navigable trade route will be dependent on proper channel maintenance, and diplomatic and trade relationships with Bangladesh.
Although having a poor overall industrial performance, there are several other industries, including a chemical fertiliser plant at Namrup, petrochemical industries at Namrup and Bongaigaon, paper mills at Jagiroad, Panchgram and Jogighopa, sugar mills at Barua Bamun Gaon, Chargola, Kampur, cement plant at Bokajan, cosmetics plant of Hindustan Unilever(HUL) at Doom Dooma, etc. Moreover, there are other industries such as jute mill, textile and yarn mills, silk mill, etc. Many of these industries are facing loss and closer due to lack of infrastructure and improper management practices.
Paper mills at Jogighopa, Jagiroad and Panchagram are no longer functioning.
The economy of Iraq is dominated by the oil sector, which has provided about 99.7% of foreign exchange earnings during its modern history. As of 2021, the oil sector provides about 92% of foreign exchange earnings. Iraq's hitherto agrarian economy underwent rapid development following the 14 July Revolution (1958) which overthrew the Hashemite Iraqi monarchy. It had become the third-largest economy in the Middle East by 1980. This occurred in part because of the Iraqi government's successful industrialization and infrastructure development initiatives in the 1970s, which included irrigation projects, railway and highway construction, and rural electrification.
The economy of Namibia has a modern market sector, which produces most of the country's wealth, and a traditional subsistence sector. Although the majority of the population engages in subsistence agriculture and herding, Namibia has more than 200,000 skilled workers and a considerable number of well-trained professionals and managerials.
The economy of Nicaragua is focused primarily on the agricultural sector. Nicaragua itself is the least developed country in Central America, and the second poorest in the Americas by nominal GDP. In recent years, under the administrations of Daniel Ortega, the Nicaraguan economy has expanded somewhat, following the Great Recession, when the country's economy actually contracted by 1.5%, due to decreased export demand in the American and Central American markets, lower commodity prices for key agricultural exports, and low remittance growth. The economy saw 4.5% growth in 2010 thanks to a recovery in export demand and growth in its tourism industry. Nicaragua's economy continues to post growth, with preliminary indicators showing the Nicaraguan economy growing an additional 5% in 2011. Consumer Price inflation have also curtailed since 2008, when Nicaragua's inflation rate hovered at 19.82%. In 2009 and 2010, the country posted lower inflation rates, 3.68% and 5.45%, respectively. Remittances are a major source of income, equivalent to 15% of the country's GDP, which originate primarily from Costa Rica, the United States, and European Union member states. Approximately one million Nicaraguans contribute to the remittance sector of the economy.
The gross domestic product (GDP) of Niger was $16.617 billion US dollars in 2023, according to official data from the World Bank. This data is based largely on internal markets, subsistence agriculture, and the export of raw commodities: foodstuffs to neighbors and raw minerals to world markets. Niger, a landlocked West African nation that straddles the Sahel, has consistently been ranked on the bottom of the Human Development Index, at 0.394 as of 2019. It has a very low per capita income, and ranks among the least developed and most heavily indebted countries in the world, despite having large raw commodities and a relatively stable government and society not currently affected by civil war or terrorism. Economic activity centers on subsistence agriculture, animal husbandry, re-export trade, and export of uranium.
The economy of Pakistan is categorized as a developing economy. It ranks as the 24th-largest based on GDP using purchasing power parity (PPP) and the 46th largest in terms of nominal GDP. With a population of 241.5 million people as of 2023, Pakistan's position at per capita income ranks 161st by GDP (nominal) and 138th by GDP (PPP) according to the International Monetary Fund (IMF).
The economy of Paraguay is a market economy that is highly dependent on agriculture products. In recent years, Paraguay's economy has grown as a result of increased agricultural exports, especially soybeans. Paraguay has the economic advantages of a young population and vast hydroelectric power. Its disadvantages include the few available mineral resources, and political instability. The government welcomes foreign investment.
The economy of Tanzania is a lower-middle income economy that is centered around Manufacturing, Tourism, Agriculture, and financial services. Tanzania's economy has been transitioning from a planned economy to a market economy since 1985. Although total GDP has increased since these reforms began, GDP per capita dropped sharply at first, and only exceeded the pre-transition figure in around 2007.
The economy of Mozambique is $14.396 billion by gross domestic product as of 2018, and has developed since the end of the Mozambican Civil War (1977–1992). In 1987, the government embarked on a series of macroeconomic reforms, which were designed to stabilize the economy. These steps, combined with donor assistance and with political stability since the multi-party elections in 1994, have led to dramatic improvements in the country's growth rate. Inflation was brought to single digits during the late 1990s, although it returned to double digits in 2000–02. Fiscal reforms, including the introduction of a value-added tax and reform of the customs service, have improved the government's revenue collection abilities.
Assam is a state in northeastern India, south of the eastern Himalayas along the Brahmaputra and Barak River valleys. Assam covers an area of 78,438 km2 (30,285 sq mi). It is the second largest state in northeastern India by area and the largest in terms of population, with more than 31 million inhabitants. The state is bordered by Bhutan and Arunachal Pradesh to the north; Nagaland and Manipur to the east; Meghalaya, Tripura, Mizoram and Bangladesh to the south; and West Bengal to the west via the Siliguri Corridor, a 22-kilometre-wide (14 mi) strip of land that connects the state to the rest of India. Assamese and Boro are the official languages of Assam. Meitei (Manipuri) is the official language of Hojai district and the entirety of the Barak Valley region, while Bengali is an official language in the three districts of Barak Valley.
Namrup is a small town situated close to the foothills of the Patkai Hills in the extreme southeastern part of Assam, India. The river Dihing or Disang flows through it. Namrup is situated in amidst wet-paddy fields, indigenous Assamese villages, orchards, large tea-gardens and densely forested hills. Administratively Namrup is located within Dibrugarh district and is today an important industrial town of Assam. Namrup is approximately 75 km from Dibrugarh by road towards the south-east and approximately 50 km from Tinsukia towards the south. It is also a small railway station in Dibrugarh-Guwahati broad-gauge railway line. The nearest airport is Dibrugarh located at a distance of approximately 70 km. Other urban areas close to Namrup are Naharkatiya - 18 km, Duliajan - 35 km, Sonari - 20 km, Moran - 55 km, etc. by roadways. Namrup is located around 500 km east of Guwahati, the largest city in the North East Region.
Dibrugarh is a city in Upper Assam with sprawling tea gardens. It is located 435 kms East from the state capital of Dispur. It serves as the headquarters of Dibrugarh district in the state of Assam in India. Dibrugarh serves as the headquarters of the Sonowal Kachari Autonomous Council, which is the governing council of the Sonowal Kachari tribe. The historic town of Dibrugarh was formally announced as 2nd City of Assam on 7 March 2024 with the formation of Dibrugarh Municipal Corporation by dissolving The Municipal Board
Jagiroad is a town in the state of Assam. Jagiroad located in Mayong Sub-Division, in Morigaon district. It is situated on the south bank of Kolong river.
The economy of West Bengal is a mixed middle-income developing social market economy and the largest Eastern Indian economy with a substantial public sector. It is the India's sixth-largest economy by nominal GDP.
Bihar has one of the fastest-growing economies in India. It is largely service-based, with a significant share of agricultural and industrial sectors. The GDP of the state was ₹9,76,514 crores at the current market price (2024–25).
The economic liberalisation in India refers to the series of policy changes aimed at opening up the country's economy to the world, with the objective of making it more market-oriented and consumption-driven. The goal was to expand the role of private and foreign investment, which was seen as a means of achieving economic growth and development. Although some attempts at liberalisation were made in 1966 and the early 1980s, a more thorough liberalisation was initiated in 1991.
Assam – 16th largest, 15th most populous and 26th most literate state of the 28 states of the democratic Republic of India. Assam is at 14th position in life expectancy and 8th in female-to-male sex ratio. Assam is the 21st most media exposed states in India. The Economy of Assam is largely agriculture based with 69% of the population engaged in it. Growth rate of Assam's income has not kept pace with that of India's during the Post-British Era; differences increased rapidly since the 1970s. While the Indian economy grew at 6 percent per annum over the period of 1981 to 2000, the same of Assam's grew only by 3.3 percent.
Dangtola is a village in the Chirang district of the north eastern state of Assam.
The 13281 / 13282 Dibrugarh–Rajendra Nagar Weekly Express is an Express train belonging to East Central Railway zone that runs between Dibrugarh and Rajendra Nagar Terminal in India. It is currently being operated with 13281/13282 train numbers on a weekly basis.
The Brahmaputra floods refers to a catastrophic flood event that occurred in 2012 along the Brahmaputra River and its tributaries, as well as in subsequent years.