Economy

What is the current state of Assam’s economy?

Assam’s economy is primarily agrarian, with a significant contribution from the service sector. It’s also rich in natural resources like oil, natural gas, and coal. While experiencing growth, it faces challenges like poverty, unemployment, and infrastructure deficits.

What is the size of Assam’s economy?

In 2022-23, the Gross State Domestic Product (GSDP) of Assam is estimated to be at ₹5.67 lakh crore (US$ 69.25 billion).

What is the main source of revenue for Assam?

Agriculture is the main source of revenue, followed by the service sector (trade, tourism, real estate, etc.) and industry (oil, tea, etc.).

What are the major crops grown in Assam?

Rice, tea, sugarcane, jute, potato, pulses, and oilseeds are the major crops grown in Assam.

What is the significance of the tea industry in Assam?

Assam is the world’s largest tea-growing region, accounting for a significant portion of India’s tea production and export. The tea industry is a major source of employment and revenue for the state.

What are the major industries in Assam?

• The major industries in Assam are:
• Petroleum and natural gas
• Tea processing
• Fertilizer
• Sugar
• Jute
• Silk

How does the petroleum industry contribute to Assam’s economy?

Assam is one of the major oil-producing states in India. The petroleum industry contributes significantly to the state’s revenue and provides employment opportunities.

What are the key components of the service sector in Assam?

Trade, tourism, real estate, banking, insurance, and transport are the key components of the service sector in Assam.

How does tourism contribute to Assam’s economy?

Assam’s rich biodiversity, cultural heritage, and natural beauty attract a significant number of tourists. The tourism sector contributes to the state’s revenue and provides employment opportunities.

What are the major economic challenges faced by Assam?

Assam faces challenges like poverty, unemployment, infrastructure deficits, and flood-related damages.

What are the potential areas for economic growth in Assam?

Assam has potential for growth in sectors like agriculture, tourism, renewable energy, and manufacturing.