Meghalaya CM Conrad Sangma hails Union Budget 2025-26, terms it as 'growth-driven' and 'inclusive'

Meghalaya Chief Minister Conrad K Sangma on February 1, 2025 hailed the Union Buget 2025-26 as 'growth-driven' and 'inclusive'

Union Finance Minister Nirmala Sitharaman unveiled the Union Budget 2025-26, emphasizing a multi-sectoral growth approach driven by agriculture, MSMEs, investments, and exports. The budget outlines ten priority areas, including rural prosperity, employment-led development, infrastructure expansion, and innovation, aimed at fostering an inclusive and robust economic framework.

Welcoming the budget, Meghalaya Chief Minister Conrad K Sangma lauded it as "inclusive and growth-oriented," aligning with the state’s vision of achieving a USD 10 billion economy. He emphasized that the financial provisions, particularly in agriculture, MSME development, connectivity, and skill enhancement, would accelerate Meghalaya’s economic progress and generate employment.

Key highlights for Meghalaya include the PM Dhan Dhanya Krishi Yojana, which will target 100 districts with low agricultural productivity, benefiting Meghalaya’s farming sector. Additionally, the Kisan Credit Card (KCC) loan limit has been raised from Rs 3 lakh to Rs 5 lakh, providing crucial financial support to the state’s farmers.

In the infrastructure and tourism sectors, the revamped UDAN scheme will enhance air connectivity, linking 120 new destinations, including helipads and smaller airports in aspirational and hilly districts. Meghalaya’s tourism industry is expected to gain significantly from this initiative. Furthermore, the government’s plan to develop 50 tourist destinations across the country, in collaboration with state governments, will complement Meghalaya’s ongoing efforts to position itself as a global tourism hub.

The budget also places a strong emphasis on health and education, with increased allocations for Saksham Anganwadi and Poshan 2.0, addressing malnutrition and stunting among children. The government plans to establish 200 district-level daycare cancer centers in 2025-26, covering all districts within three years, significantly boosting Meghalaya’s healthcare infrastructure. Broadband connectivity for all government schools will further enhance digital learning and improve student employability.

Entrepreneurs and MSMEs in Meghalaya will benefit from an increase in credit guarantee cover, doubling limits for micro and small enterprises as well as startups. This move will bolster industrial growth and align with Meghalaya’s Industrial and Investment Promotion Policy, empowering young entrepreneurs supported by initiatives like CM ELEVATE and PRIME.

The budget also extends the Scheme for Special Assistance to States for Capital Investment, allocating ₹1.5 lakh crore nationwide. Meghalaya has already utilized over ₹1,300 crore under this scheme in 2023-24, with the figure expected to exceed ₹2,000 crore in 2024-25.

Furthermore, the total tax devolution to Meghalaya has been increased from Rs 9,566.09 crore to Rs 10,910.14 crore, marking a rise of Rs 1,039.74 crore from the previous year. This boost in financial allocation is expected to accelerate Meghalaya’s infrastructure development and economic expansion.

With these strategic investments and reforms, Meghalaya is set to leverage the Union Budget’s provisions to achieve its economic goals, fostering sustainable growth, enhanced connectivity, and improved living standards for its citizens.