Meghalaya: CM Conrad K Sangma charts out Rs 1970 crore deficit budget for financial year 2025-26
Meghalaya: CM Conrad K Sangma charts out Rs 1970 crore deficit budget for financial year 2025-26
Digital Desk: Meghalaya Chief Minister Conrad K Sangma presented a Rs 1,970 crore deficit budget for the fiscal year 2025-26 on March 5.
The Rs 1,970 crore budget is around 2.96 percent of the estimated Rs 66,645 crore GSDP, which is consistent with the intended USD 10 billion economy by 2028.
According to the budget report, overall receipts for 2025–26 are expected at Rs 30,415 crore, with income receipts of Rs 25.591 crore and capital receipts of Rs 14,324 crore. Excluding borrowings of Rs 24,788 crore, total receipts are expected to be Rs 225,627 crore.
Sangma estimates that the overall spending will be Rs 30,003 crore, with revenue expenditure at Rs 20,556 crore and capital expenditure at Rs 9,447 crore. The expected total expenditure, excluding loan repayment of Rs 2,406 crore, is Rs 27,597 crore.
Sangma predicted that the current fiscal year's interest payments will be Rs 1,347 crore, while pension payments will be Rs 1,824 crore.
"As a result, I am presenting the budget for 2015-26 with a fiscal deficit of Rs 1,970 crore, or approximately 2.96 percent of GSDP. I am delighted to highlight that the fiscal deficit has been kept below the permissible limit of 3.5%," the CM stated while presenting the budget.
Sangma during the budget report also proposed a Rs 6,000 scholarship for all post-matric students, which will benefit approximately 80,000 youths beginning in the next fiscal year.
He also informed the House that the environment budget is Rs 5,421 crore, up 20% from 2024-25; the youth budget is Rs 3,329 crore, up 16.6%; and the gender budget is Rs 6,219 crore, up 25%.
Noting that the Union Ministry of Statistics and Programme Implementation has approved GSDP for 2023-24 at Rs 53,057 crore, the chief minister stated that the anticipated GSDP for 2025-26 is Rs 66,645 crore.
