Meghalaya Budget 2024-25: Rs 2,029 cr Deficit, 'Mission 10' for USD 10 Billion Economy

Shillong, Feb 21 (PTI) Meghalaya Chief Minister Conrad K Sangma on Wednesday presented a Rs 2,029 crore deficit budget for the 2024-25 financial year, calling the document 'Mission 10', an action plan for making the northeastern state a USD 10 billion economy by 2028.

In his budget speech, Sangma, who also holds the finance portfolio, said that the total receipts stood at Rs 27,072 crore, of which revenue receipts were at Rs 23,515 and capital receipts at Rs 3,557 crore.

Excluding borrowings of Rs 3,527 crore, the total receipts were estimated to be at Rs 23,545 crore, while the total expenditure was at Rs 27,072 crore, of which revenue expenditure was estimated to be at Rs 19,653 crore and capital expenditure at Rs 7,419 crore, he said.

Excluding the repayment of Rs 1,498 crore loans, the total expenditure is estimated to be at Rs 25,574 crore, the CM said.

He said interest payments for the 2024-25 fiscal were estimated to be at Rs 1,236 crore and pension payments at Rs 1,865 crore.

"I am, therefore, presenting the budget for the financial year 2024-25 with a fiscal deficit of Rs 2,029 crore, which is around 3.83 per cent of the GSDP," Sangma said while presenting the budget in the House.

"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 USD 10 billion 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 added.