This year’s budget introduces “Mission 10,” which emphasises ten strategic opportunities and assurances aimed at fostering the state’s growth and development.
Meghalaya government on Wednesday presented its budget for the fiscal year 2024-25, revealing a fiscal deficit of Rs 2,029 crore, equivalent to approximately 3.83 per cent of the Gross State Domestic Product (GSDP).
This year’s budget introduces “Mission 10,” which emphasises ten strategic opportunities and assurances aimed at fostering the state’s growth and development.
Total receipts are projected to reach Rs 27,072 crore, with revenue receipts estimated at Rs 23,515 crore and capital receipts at Rs 3,557 crore.
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The total expenditure, excluding loan repayments of Rs 1,498 crore, is estimated to be Rs 25,574 crore, as stated by the Chief Minister, who also serves as the head of the Finance department.
Interest payments for the fiscal year 2024-25 are forecast at Rs 1,236 crore, with pension payments amounting to Rs 1,865 crore. Chief Minister Sangma, while presenting the budget, highlighted the fiscal deficit of Rs 2,029 crore, reiterating that it represents approximately 3.83 per cent of the GSDP.
He urged members of the legislative assembly and citizens to perceive this budget as “Mission 10”, a strategic roadmap aimed at propelling the state’s economy to USD 10 billion by leveraging ten key opportunities and providing as many guarantees.
The Chief Minister also expressed confidence that achieving “Mission 10” by 2028 would coincide with the 10-year anniversary of the (Meghalaya Democratic Alliance) MDA government.
Furthermore, he acknowledged that the state’s goal of reaching a position among the top ten states in per capita GDP and Sustainable Development Goal (SDG) achievements by 2032 was ambitious yet feasible.
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