Shillong: Meghalaya Chief Minister Conrad K Sangma presented the state budget for the fiscal year 2024-25 on Wednesday, revealing a fiscal deficit of Rs 2,029 crore, about 3.83 percent of the Gross State Domestic Product (GSDP). The budget, themed ‘Mission 10,’ outlines an action plan to transform Meghalaya into a $10 billion economy by leveraging 10 key opportunities and providing 10 guarantees by 2028, coinciding with the 10th anniversary of the MDA government.
The Chief Minister highlighted that ‘Mission 10’ focuses on crucial areas such as investment promotion, private sector development, regional connectivity, urban transformation, technology hub development, agricultural growth, economic empowerment of women, youth engagement, sustainable eco-tourism, climate-resilient green economy, and power generation.
Key budget allocations for the fiscal year 2024-25 include:
- Investment Promotion and Private Sector Development: Rs 20 crore
- Regional Connectivity and Border Trade: Rs 25 crore
- Urban Transformation: Rs 934 crore for the urban sector and Rs 764 crore for state schemes
- Meghalaya as a Tech Hub: Rs 149 crore
- Agriculture and Horticulture: Rs 427 crore, marking a 16 percent increase from the previous year
- Overall Allocation for the Primary Sector: Rs 1,670 crore
- Economic Empowerment and Engagement of Women: Rs 5,271 crore
- Engaging and Employing Youth: Rs 246 crore for the sports and youth sector, a 15 percent increase, with a total youth budget of Rs 2,853 crore
- Climate-Resilient Green Economy: Rs 4,501 crore
- Power Generation: Rs 1,558 crore
- Healthcare: Rs 1,970 crore
- Road and Building Sector: Rs 2,709 crore
- Piped Drinking Water to All: Rs 905 crore
- Housing for All Eligible Beneficiaries: Rs 433 crore
- Education: Rs 3,539 crore, including Rs 1,335 crore as grant-in-aid salaries
- Community Infrastructure: Rs 40 crore
The Meghalaya CM emphasized the ten guarantees of ‘Mission 10,’ including improved physical connectivity, seamless mobility, piped drinking water for all, high-speed internet connectivity, housing for eligible beneficiaries, reliable and quality power supply, affordable healthcare, quality education at all levels, efficient service delivery and grievance redressal, and caring for empowering state and community infrastructure for engagement and well-being.
In comparison to the previous fiscal year, where a deficit budget of Rs 1,592 crore was presented, the 2024-25 budget reflects a higher fiscal deficit of Rs 2,029 crore but is aligned with the vision of propelling Meghalaya into a robust economic trajectory through strategic investments and development initiatives. The Chief Minister urged all members of the house and citizens to view this budget as a significant step towards achieving ‘Mission 10.’
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