In a remarkable achievement in the State’s financial sector, Assam Chief Minister Himanta Biswa Sarma revealed that the credit deposit or CD ratio has jumped from 32 per cent to 58 per cent over the past 3 to 4 years. This significant increase is seen as a testament to Assam’s growing financial engagement and economic vitality.
The CD ratio, a critical measure of economic health, indicates the proportion of credit issued by banks relative to the total deposits they receive. The rise in this ratio signals enhanced financial activity and trust in the banking sector within the State.
However, Himanta Sarma stressed that Assam is not resting on its laurels; the State has set an ambitious target to further increase the CD ratio to 75 per cent. Achieving this goal is expected to drive even greater economic development and financial inclusion across Assam.
In addition to this financial milestone, CM Himanta introduced several new initiatives aimed at furthering economic growth and empowering the State’s residents. One notable initiative is the upcoming deposit of Rs 10,000 into the bank accounts of women across Assam. This program is designed to encourage women to engage in small-scale business ventures, encouraging financial independence and entrepreneurship.
The scheme will provide additional support to women with a supplementary amount of Rs 25,000, which includes Rs 15,000 as a bank loan and Rs 10,000 as a government grant. This financial backing is intended to strengthen their entrepreneurial endeavours and boost economic activity at the grassroots level.
Furthermore, the CM announced a new program to support the youth of Assam by providing Rs 2 lakh to encourage entrepreneurial development. This initiative aims to nurture young talent and promote innovation, further contributing to the State’s economic progress.
