New Delhi: Meghalaya Chief Minister Conrad K Sangma on Wednesday presented a deficit budget of Rs 1,849 crore in the Assembly for the financial year 2022-23, proposing no additional tax and a focus on funding for the Sustainable Development Goals. It was a separate section.
Sangma also announced that the state government has made “fundamental changes” in the budgeting system, by removing plan and non-plan estimates in line with the practices of the Centre.
He said the government has estimated a total receipt of Rs 18,700 crore, which includes borrowings of Rs 2,632 crore.
The chief minister, who also holds the finance portfolio, said the total expenditure is expected to be Rs 18,881 crore, which is Rs 1,278 crore more than the figures for the current fiscal.
The estimated Gross State Domestic Product for 2022-23 has been pegged at Rs 41,010 crore, ‘considering the positive outlook of the economy’.
“I am presenting the budget for the fiscal year 2022-23, which has a fiscal deficit of Rs 1,849 crore, which is about 4.5 per cent of GSDP,” Sangma said.
“The total transfer from the Center, excluding transfers related to the scheme, is estimated to be Rs 7,641 crore,” he said.
Out of the total expenditure estimate of Rs 18,881 crore, Rs 9,182 crore will be spent on improvement of various SDG indicators, which is about 19 per cent more than the numbers for the current fiscal.
The chief minister also said that his government was committed to resolving the long-pending border dispute with neighboring Assam. Read also: Twitter starts testing ‘Shops’ feature to boost e-commerce
“We have already signed a memorandum of understanding to resolve 6 out of 12 areas of difference,” he told the assembly. Read also: ‘Who will invest in India if such scams happen?’ Court asked on NSE matter
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