Meghalaya tables Rs 2,672-Cr deficit budget; capital outlay at Rs 10,211 Cr

Shillong, Feb 23: Chief Minister Conrad K Sangma, on Monday, presented a deficit budget of Rs 2,672 crore for the current fiscal, which is around 3.5% of GSDP.

Sangma, who also holds the Finance potfolio, said that the total receipt for the current fiscal stands at Rs 26,621 crore and the total expenditure is expected at Rs 29,293 crore, thus leaving a deficit of Rs 2,672 crore.

Giving a breakup, Sangma said that for 2026-27, the total receipts stands at Rs 32,000 crore of which the revenue receipts are estimated at Rs 26,583 crore and capital receipts at 5,417 crore.

Excluding borrowings of Rs 5,379 crore, the total receipts are estimated to be Rs 26,621 crore.

On the expenditure side, the total expenditure stands at Rs 32,023 crores, of which the revenue expenditure are expected at Rs 21,812 crore and capital expenditure at Rs 10, 211 crore.

Excluding repayment of loans of Rs 2,731 crore, the estimated total expenditure is Rs 29,293 crore.

Interest payments for Rs. 2026-27 are estimated at Rs. 1,540 and pension payment at Rs 1,980 crore. The revenue surplus is Rs 4,771 crore and the closing balance is Rs 714 crore, the Chief Minister said.

For the first time Capital Expenditure has crossed Rs. 10,000 crore, Sangma said. The projected capital expenditure of Rs 10,211 crore for 2026-27 is a seven-fold increase from 2017-18 levels of Rs 1,435 crore.

He further informed that Meghalaya is one of the top performing States in SASCI, an interest free grant like facility with estimated receipts of Rs. 4500 crore in 2026-27, a 67% increase. This amount will be spent on ongoing and new capital projects across sectors.

Target of new EAPs worth Rs 15,000 crore in the sectors of roads, power, healthcare, urban and human development which is one of the highest investments in the Northeast, Sangma said adding, 90% of the repayment of these is borne by the Government of India.

Centrally Sponsored Scheme releases have more than doubled from Rs 2,965 crore in 2017-18 to an estimated Rs 6,833 crore in 2026-27.

Moreover, the Chief Minister said he is presenting the climate, youth gender and SDG budget.

The size of the climate budget for 2026-27 is Rs 5,572 crore, an increase of 2.8% over 2025-26. The youth budget stands at Rs 4,824 crore, an increase of 45% and the gender budget stands at Rs 6,849 crore an increase of 10%.

Sangma also said, Meghalaya is now the second fastest-growing State in India and the only State to sustain nearly 10% real GSDP growth for three consecutive post-COVID years.

In the Health sector the state has earmarked Rs 2,472 crore in 2026–27, education sector allocation for 2026–27 stands at Rs 3,347 crore, agro sector allocation stands at Rs 664 crore, Urban Affairs allocation has been earmarked to Rs 1,540 crore and Rs 376 crore for the tourism amongst other sectors.