UpdateBot at 15:02, 29 June 2022

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{{Infobox economy
| country = Assam
| image =
| image_size =
| caption =
| currency =
| year = 1 April – 31 March
| gdp = {{INRConvert|4.81|lc}} (2022–23 est.)<ref name="Budget Analysis"/>
| gdp rank = [[List of Indian states and union territories by GDP|17th]]
| growth = 9.1% (2021-22 est.)<ref name="Budget Analysis"/>
| per capita = {{INRConvert|122654}} (2021-22)<ref name="Budget Analysis"/>
| per capita rank = [[List of Indian states and union territories by GDP per capita|22nd]]
| sectors = Agriculture 25% <br /> Industry 30% <br /> Services 45% (2021-22)<ref name="Budget Analysis"/>
| components =
| inflation =
| bankrate =
| poverty = {{decreasepositive}} [[List of Indian states and union territories by poverty rate|31.98%]] in poverty (2017–18)<ref>{{cite web | title=SDGs India Index | url=https://sdgindiaindex.niti.gov.in/#/ranking |work=[[NITI Aayog]] | date=31 December 2019}}</ref>
| gini =
| hdi = {{increase}} 0.614 {{color|orange|medium}} (2018) ([[List of Indian states and territories by Human Development Index|30th]])
| labor =
| occupations =
| unemployment = {{steady}} 4.0% (Nov 2020)<ref>{{cite web|title=Unemployment Rate in India |url=https://unemploymentinindia.cmie.com/ |publisher=Centre for Monitoring Indian Economy |access-date=3 November 2020}}</ref>
| average gross salary =
| gross median =
| average net salary =
| net median =
| industries =
| edbr =
| exports =
| export-goods =
| export-partners =
| imports =
| import-goods =
| import-partners =
| FDI =
| current account =
| gross external debt =
| NIIP =
| debt = 25.74% of GSDP (2022-23 est.)<ref name="Budget Analysis"/>
| balance = {{INRConvert|-15354|c}} (3.19% of GSDP) (2022-23 est.)
| revenue = {{INRConvert|99674|c|nolink=yes}} (2022-23 est.)<ref name="Budget Analysis"/>
| expenses = {{INRConvert|1.15|lc|nolink=yes}} (2022-23 est.)<ref name="Budget Analysis">{{cite web|title=Assam Budget Analysis 2022-23|url=https://prsindia.org/budgets/states/assam-budget-analysis-2022-23|website=PRS Legislative Research}}</ref>
| aid =
| credit =
| spelling = Oxford
| presentUS$asdefault = no
}}
[[Image:Assam historical pci.png|right|thumb|320px|The per capita income of Assam was higher than the national average soon after Indian Independence. But it has slipped since, and the difference has become larger since liberalization of the Indian economy in the 1980s.]]
The '''Economy of [[Assam]]''' is largely agriculture based with 69% of the population engaged in it.

==Macro-economic trend==
Economy of Assam today represents a unique juxtaposition of backwardness amidst plenty.<ref>National Commission for Women 2004</ref> Growth rate of Assam's [[Gross domestic product|income]] has not kept pace with that of India's during the Post-British Era; differences increased rapidly since the 1970s.<ref name="AHDR2003">UNDP 2004 p22-23</ref> 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.<ref>UNDP 2004 p22</ref> 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.<ref name="AHDR2003">UNDP 2004 p22-23</ref> 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.<ref name="GoAESA0405">Government of Assam, Economic Survey of Assam 2004-2005</ref> During 2003-2004 and 2004–2005, in the same constant prices, the economy grew more satisfactorily at 5.5 and 5.3 percent respectively.<ref name="GoAESA0405"/> The advanced estimates placed the growth rate for the year 2005–2006 at above 6 percent.<ref name="ReferenceA">Government of Assam, Economic Survey of Assam 2005-2006</ref>

In the 1950s, soon after the independence, [[per capita income]] in Assam was little higher than that in India;<ref name="Asomor Arthaniti 1">{{harvcol|Deka|1963}}</ref> it is much lower today. In the year 2000–2001, per capita income in Assam was [[Indian rupee|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.<ref>Government of Assam, Economic Survey of Assam 2001-2002 in Assam Human Development Report, 2003 p25</ref> According to the recent estimates,<ref name="ReferenceA"/> 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 [https://web.archive.org/web/20060413232217/http://mospi.nic.in/mospi_nad_main.htm estimated] by ''Ministry of Statistics and Programme Implementation'' with figures in millions of Indian Rupees.
{| class="wikitable"
|-
! 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.<ref name="AHDR2003II">UNDP 2004 p24-25</ref> 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.<ref name="AHDR2003II">UNDP 2004 p24-25</ref> 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.<ref name="AHDR2003II">UNDP 2004 p24-25</ref>

==Agriculture and Livestock==
[[Image:TeaGardenOfAssam.jpg|thumb|180px|A tea garden in Assam]]
Agriculture accounts for more than a third of Assam's income<ref name="Asomor Arthaniti 1"/> and employs 69 percent of total workforce.<ref>Government of Assam, Economic Survey of Assam 2001-2002 in Assam Human Development Report, 2003 p32</ref> Assam's biggest contribution to the world is its [[Assam tea|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 tea|Darjeeling]], [[Taiwanese tea|Taiwanese]]) teas. Assam also accounts for fair share of India's production of [[rice]], [[rapeseed]], [[mustard seed|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<ref>[http://www.mospi.gov.in/sites/default/files/publication_reports/Final1Brochure_30july2018.pdf 2015 agricultural output of Assam based on 2011 prices]</ref>
{| class="wikitable"
|-
! 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.<ref name="Asomor Arthaniti 1"/> With implications to food security, per capita food grain production has declined in past five decades.<ref name="AHDR2003III">UNDP 2004 p33</ref> 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<ref name="AHDR2003III">UNDP 2004 p33</ref> (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<ref>FAO Statistics Division 2007</ref>). 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,<ref>Assam Small Farmers’ Agri-business Consortium</ref> [[fishing]] is still in its traditional form and production is not self-sufficient.<ref name="AHDR2003IV">UNDP 2004 p37</ref>

==Oil and Gas==

Assam is a major producer of [[crude oil]] and [[natural gas]] in India.<ref name="Asomor Arthaniti 1"/> It was placed as the second in the world, (after [[Titusville, Pennsylvania|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 [[tonne]]s per year. [[Bongaigaon Refinery and Petrochemicals Limited]] (BRPL) is the only ''S&P CNX 500'' conglomerate with a corporate office in Assam.<ref name="ongc2017">{{cite book |title=Annual report (2016-2017) |date=1 September 2017 |publisher=ONGC India |location=New Delhi |url=https://www.ongcindia.com/wps/wcm/connect/e2f479b0-e765-405c-ae20-9dcb45ec2175/AR201617.pdf?MOD=AJPERES&CONVERT_TO=url&CACHEID=ROOTWORKSPACE-e2f479b0-e765-405c-ae20-9dcb45ec2175-lZnkGyu |access-date=15 June 2018}}</ref>
One of the biggest public sector oil company of the country, [[Oil India Ltd.]] has its plant and headquarter at [[Duliajan]].<ref>{{cite book |title=Imports and exports of Assam - a report |publisher=United Nations |location=Geneva Wasabi |url=http://industry.uneecopscloud.com/portlet-innerpage/export-and-import-of-assam |access-date=15 June 2018}}</ref>

==Other Industries==
Apart from tea and petroleum refineries,<ref name="Asomor Arthaniti 1"/> 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 Asia]]n 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 [[Lokpriya Gopinath Bordoloi International Airport|international airport in Guwahati]] is yet to find 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.

==Notes==
{{reflist|3}}

==References==
{{refbegin}}
* [http://www.undp.org.in/index.php?option=com_content&task=view&id=125&Itemid=213 Assam Human Development Report 2003]
* {{cite book |last=Deka |first=Bhabananda |title=Asomor Arthaniti |date=1963 |language=as |publisher=New Book Stall |location=Guwahati, India |edition=1}}
{{refend}}

{{Assam}}
{{Economy of India topics}}

{{DEFAULTSORT:Economy Of Assam}}
[[Category:Economy of Assam| ]]

Economy of Assam - Revision history

UpdateBot at 15:02, 29 June 2022