SHILLONG, March 09: The MLA of the All India Trinamool Congress and also leader of the Opposition in the Meghalaya Legislative Assembly,Dr Mukul Sangma said that the budget presented by the Chief Minister today is filled with loans and credits especially since it is the last Budget of the MDA Government before going for the election in the coming year.
He said that with this budget, the Government plans to fill all its inefficiencies in the past four years while adding that the Government has used all means to procure loans.
The Chief Minister, Conrad Kongkal Sangma who also holds the Finance portfolio in the Government presented a Budget deficit by ₹1,849 crores of the expenditure for the financial year 2022-23 which is about 4.5% of the Gross State Domestic Product(GSDP).
Dr.Mukul Sangma said that the Central Government amended the Fiscal Responsibility & Budget Management (FRBM) Act in which it increase the limit of credit for States from 3 percent to 4.5 percent of the GSDP, and the State Government has taken advantage of this. He said that taking a huge loan like this will also burden the State when it has to repay it in the years to come.