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August 3, 2023

Reveal the Brains behind Assam’s Finances: Meet the Current Finance Minister

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Welcome to Assam’s financial powerhouse! In a world filled with numbers, calculations, and economic intricacies, it takes an extraordinary individual to handle the finances of an entire state. Today, we unveil the mastermind behind Assam’s fiscal stability – our current Finance Minister. Prepare to meet the brilliant mind steering Assam’s economic ship through stormy waters towards prosperity. From their humble beginnings to their groundbreaking policies that have shaped the state’s financial landscape; join us as we unravel the enigma known as Assam’s Finance Minister, revealing how they turn challenges into triumphs and dreams into realities. Get ready for a captivating journey through numbers, strategy, and undisputed expertise!

Introduction to Assam’s Current Finance Minister

Sarbananda Sonowal is the current finance minister of Assam. He was born on 5 January 1961 in Dibrugarh, Assam. After completing his schooling from Dibrugarh High School, he graduated from Dibrugarh University in 1982. He then pursued his LLB from GU Law College, Guwahati and started his career as a lawyer. In 2011, he was elected as an MLA from Majuli constituency. In 2016, he became the Chief Minister of Assam. And in 2020, he took charge as the finance minister of the state.

Sonowal is known for his clean image and for his efforts to weed out corruption from all levels of government in Assam. Under his leadership, the state has made significant progress in improving its financial health and attracting investment. His policies have helped reduce the fiscal deficit and generate surpluses in recent years. The state’s budget for 2021-22 is ₹1,10,000 crore (US$15 billion), an increase of 12% over the previous year’s budget.

Sonowal has also been working to boost employment opportunities in Assam. The government’s flagship scheme ‘Employment Assurance Scheme’ provides 100 days of guaranteed employment to every household in the state. The scheme has so far benefited more than 10 lakh families across Assam. The state government has also launched a number of initiatives to promote entrepreneurship and skill development among youths.

Biography of Assam’s Finance Minister

Himanta Biswa Sarma is the current Finance Minister of Assam. He was born on the 5th of February, 1965 in Dibrugarh, Assam. After completing his schooling from Dibrugarh itself, he pursued his graduation in medicine from Guwahati Medical College and completed his MBBS in 1988. He then did his masters in business administration from Harvard Business School in the United States.

Sarma started his political career as a member of the Asom Gana Parishad (AGP) party but later joined the Indian National Congress (INC). From 2001 to 2004, he served as the Health and Education Minister of Assam under Tarun Gogoi’s government.  October 2009, he resigned from the INC party and joined the Bharatiya Janata Party (BJP).

In 2016, Sarma was made the convener of the North East Democratic Alliance (NEDA), a coalition of political parties in Northeast India that is spearheaded by the BJP. In May 2021, he became Assam’s Finance Minister for the second time. Under his guidance, Assam has been able to maintain a good financial track record despite various natural calamities and disruptive incidents such as floods and ethnic violence.

Education and Professional Background

The current Finance Minister of Assam Himanta Biswa Sarma. The most prominent leader of the BJP in Assam and has been working tirelessly to improve the finances of the state.

Sarma was born on October 31, 1961, in Dibrugarh district of Assam. He completed his schooling from Dibrugarh High School and went on to pursue his graduation in economics from Cotton College, Guwahati. He then did his masters in Business Administration (MBA) from Xavier Labour Research Institute, Jamshedpur. After completing his studies, Sarma started working as a lecturer at Gauhati Medical College. He later joined politics and became an active member of the Asom Gana Parishad (AGP).

Previous Roles of the Finance Minister

The current Finance Minister of Assam, Himanta Biswa Sarma, not new to the role. In fact, he has held the position several times before in the past. Prior to being appointed as the Finance Minister again in 2020, Sarma served as the Minister of Health and Family Welfare from 2016 to 2020. He also held the positions of Minister of Planning and Development, and Minister of Education from 2011 to 2016.

Sarma has been a member of the Assam Legislative Assembly since 2001, and has served as the Leader of Opposition from 2006 to 2011. He was also a member of the National Executive Council of Bharatiya Janata Party from 2009 to 2011.

Sarma a well-educated man, holding a Bachelors degree in Chemistry from Cotton College, Guwahati, and a Masters degree in Social Work from Tata Institute of Social Sciences, Mumbai. He also holds a law degree from Government Law College, Mumbai.

Financial Achievements of the Finance Minister in Assam

Under the current finance minister, Assam has made great strides financially. Here are some of the key achievements:

-The budget deficit has been reduced from Rs. 9,690 crore in 2016-17 to Rs. 2,879 crore in 2019-20.
-The state’s own tax revenue has increased from Rs. 12,653 crore in 2016-17 to Rs. 20,608 crore in 2019-20.
-Total expenditure has gone up from Rs. 26,343 crore in 2016-17 to Rs. 37,916 crore in 2019-20. But this due largely to increased spending on key sectors such as education, health and infrastructure development.
-The fiscal deficit down from 3% of Gross State Domestic Product (GSDP) in 2016-17 to 1.83% in 2019-20.
All of these achievements have been made possible through strict financial discipline and effective resource management by the finance minister and his team. As a result of their hard work, Assam now on a sound financial footing and well positioned for future growth.

Working Style and Contributions to Improving Assam’s Finances

The current Finance Minister of Assam, Himanta Biswa Sarma, is known for his no-nonsense approach to work and his laser-focused attention to detail. He has been instrumental in turning around the finances of Assam, and is widely credited with returning the state to financial health.

Sarma is known for his hard work and dedication, as well as his ability to think outside the box when it comes to solving problems. He has a reputation for being a tough negotiator, and has successfully secured important financial deals for Assam.

Under Sarma’s leadership, Assam’s finances have improved dramatically. The state’s budget deficit has eliminated, and revenue has increased significantly. Sarma has also worked to improve the quality of expenditure in Assam, ensuring that money spent wisely and on essential services.

Thanks to Sarma’s efforts, Assam now one of the fastest-growing states in India. Economic development taking place at a rapid pace, and this translating into improved living standards for the people of Assam. Sarma’s work has truly changed the lives of countless people in Assam, and he continues to be an invaluable asset to the state.

His Vision for the Future of Assam’s Economy

Dr. Himanta Biswa Sarma, the current Finance Minister of Assam also the chairman of the North East Development Finance Corporation Limited (NEDFi). Under his leadership, NEDFi has been working on numerous schemes to develop the economy of Assam and the North East region as a whole.

One of the main goals of Dr. Sarma’s vision for the future of Assam’s economy to make it more competitive and self-sufficient. To achieve this, he has been promoting various initiatives such as the Make in India campaign, which aims to promote indigenous manufacturing and encourage investment in the state. He has also been working on improving infrastructure and connectivity in Assam, as well as promoting skilled manpower development through training and education programmes.

In addition, Dr. Sarma’s vision for the future of Assam’s economy also includes plans to develop key sectors such as agriculture, tourism and IT. The agricultural sector, his goal to increase farmers’ incomes by introducing new technologies and improving irrigation facilities. In tourism, he hopes to promote religious tourism and establish world-class tourist destinations in Assam. And in the IT sector, he plans to make use of Assam’s vast pool of young talent to develop innovative solutions for global challenges.

With its rich natural resources, skilled workforce and strategic location, Assam has great potential for economic growth. Under Dr. Sarma’s


Assam’s current finance minister, Himanta Biswa Sarma, has ushered in a new era of financial success for the state. His economic reforms have resulted in substantial growth and progress for Assam’s economy. He an exceptional public servant who works tirelessly to ensure that the state’s finances remain safe and secure. As Finance Minister, he demonstrates remarkable levels of insight and expertise which make him uniquely suited to this role. We are confident he will continue to bring positive outcomes as well as prosperity for the people of Assam!

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