Economy of Assam

Assam Economy not only covers the statistical part of economy but also the human development , Economy of Assam has got a major shift in the recent decade with a great focus on secondary and tertiary sector. We have Bifurcated the Economy of Assam into following topics for the systematic study for APSC Exam by our students.
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FAQs Economy of Assam

What are the main pillars of Assam’s economy?

Assam’s economy is primarily based on agriculture, with tea being the most significant crop. Other sectors like oil and natural gas, tourism, and manufacturing also contribute to the state’s economic growth.

What is the significance of tea in Assam’s economy?

Assam is the largest tea-producing state in India, accounting for a significant portion of the country’s tea production. Tea cultivation and processing provide employment to a large number of people and contribute significantly to the state’s revenue.

What are the major industries in Assam?

Besides tea, Assam has industries like oil and natural gas (Digboi being the oldest oil refinery in Asia), petroleum, petrochemicals, fertilizers, cement, and paper. Cottage industries like handloom weaving, bamboo, and cane crafts are also prevalent.

How does tourism contribute to Assam’s economy?

Assam attracts tourists with its diverse wildlife, national parks like Kaziranga and Manas, historical sites, and cultural festivals like Bihu. Tourism generates revenue and employment opportunities for the local population.

What are the challenges faced by Assam’s economy?

Some of the challenges faced by Assam’s economy include:

Flood and erosion: The Brahmaputra River, while a lifeline, causes frequent floods and erosion, impacting agriculture and infrastructure.
Infrastructure bottlenecks: Inadequate infrastructure, especially in terms of roads, railways, and power supply, hinders economic development.
Unemployment: The state faces a high unemployment rate, particularly among the youth.
Industrial development: While Assam has natural resources, industrial development is still lagging behind compared to other states.

What initiatives are being taken to boost Assam’s economy?

The government is taking several initiatives to boost Assam’s economy, such as:

Industrial development policies: Promoting industrial growth by attracting investments and providing incentives to businesses.
Infrastructure development: Investing in roads, bridges, railways, and airports to improve connectivity and facilitate economic activity.
Skill development programs: Equipping the youth with skills to enhance their employability and contribute to economic growth.
Promoting tourism: Developing infrastructure and facilities to attract more tourists and showcasing Assam’s unique cultural heritage.
Focus on agriculture and allied activities: Improving agricultural productivity, promoting organic farming, and developing the dairy and fishery sectors.

What is the Gross State Domestic Product (GSDP) of Assam?

The GSDP of Assam for 2022-23 is estimated to be at Rs. 5.67 lakh crore (US$ 69.25 billion). It has shown a Compound Annual Growth Rate (CAGR) of 13.90% between 2016-17 to 2022-23.

What are the major exports of Assam?

Assam’s major exports include tea, petroleum products, coal, coke briquettes, and other products. Tea exports have accounted for a significant portion of total exports in recent years.

 

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