Meghalaya CM Conrad Sangma presents Rs 2,029 crore deficit budget

The Meghalaya government on February 21, presented the budget for 2024-25 with a fiscal deficit of Rs 2,029 crore, which is around 3.83 per cent of the Gross State Domestic Product (GSDP).

Further, this year’s budget enlisted Mission 10, with 10 opportunities and 10 guarantees for the growth and development of the State. 

The total receipts stand at Rs 27,072 crore, of which the revenue receipts are estimated at Rs 23,515 crore and capital receipts at Rs 3,557 crore.

According to the chief minister who holds charge of the Finance department, the estimated total expenditure is Rs 25,574 crore excluding repayment of loans of Rs 1,498 crore.  

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He said the interest payments for 2024-25 are estimated at Rs 1,236 crore and pension payments at Rs 1,865 crore.  “I am, therefore, presenting the budget for 2024-25 with a fiscal deficit of Rs 2,029 crore, which is around 3.83 per cent of the GSDP,” Sangma said. 

 “I would like all the members of this August House and every citizen to remember this budget as ‘Mission 10’ – an action plan for building a 10 billion US dollar economy through leveraging 10 opportunities and providing 10 guarantees. The accomplishment of ‘Mission 10’ in 2028 will coincide with 10 years of the MDA government,” he said. The CM also claimed that the state’s target to be amongst the top ten states of the country in per capita GDP and SDG goals by 2032 is ambitious but possible.