Shillong, Mar 6: Meghalaya Chief Minister Conrad K. Sangma on Wednesday presented the state’s ₹1,970 crore deficit budget for the fiscal year 2025-26, focusing on economic growth, development, and infrastructure to transform the state into a developed region by 2032.

The budget, representing 2.96% of the Gross State Domestic Product (GSDP), includes key allocations for climate change, youth, and gender-focused initiatives. The climate budget is set at ₹5,421 crore, while the gender budget stands at ₹6,219 crore, both reflecting notable increases from the previous year.

Sangma outlined total receipts for 2025-26 at ₹30,415 crore, consisting of ₹25,591 crore from revenue receipts and ₹4,824 crore from capital receipts. After accounting for borrowings of ₹4,788 crore, the effective total receipts are estimated at ₹25,627 crore. The total expenditure for the year is projected at ₹30,003 crore, with ₹20,556 crore allocated for revenue expenditure and ₹9,447 crore for capital expenditure.

Maintaining fiscal discipline, the Chief Minister assured that the fiscal deficit remains below the permissible limit of 3.5% of GSDP. Interest payments are projected at ₹1,347 crore, while pension payments will amount to ₹1,824 crore. Sangma emphasized that the budget’s aim is to foster growth, create jobs, and improve citizens’ welfare.

Sangma reiterated the target of doubling Meghalaya’s GDP from ₹42,697 crore to ₹85,000 crore by 2028. The projected GSDP for 2025-26 is ₹66,647 crore, with an annual growth rate of 12.7%, positioning the state on track to achieve this ambitious goal.

The central transfers to Meghalaya are expected to rise to ₹20,568 crore in 2025-26, an increase from ₹19,242 crore in the current year. Sangma also projected a 10.5% increase in the state’s share of central taxes, expected to reach ₹10,910 crore.

On the revenue side, the state’s own tax revenue is expected to reach ₹4,226 crore in 2025-26, following a significant increase in recent years. The Chief Minister also emphasized the need for private sector investments, with a goal of attracting ₹8,500 crore (approximately $1 billion) to meet the GSDP target.

Notable sectoral allocations include ₹3,654 crore for education, ₹2,873 crore for public works, ₹2,176 crore for health, ₹1,088 crore for power, ₹866 crore for public health engineering, and ₹618 crore for agriculture and farmers’ welfare.

The 2025-26 budget reflects Meghalaya’s commitment to long-term development, infrastructure enhancement, and improving the standard of living for its citizens, paving the way for a prosperous future.