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Monday, April 15, 2024

Meghalaya Chief Minister presents Budget for 2024-25: Fiscal Deficit stands at Rs 2,029 Crore  

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Shillong: The Meghalaya Chief Minister Conrad K Sangma on Wednesday presented the budget for the fiscal year 2024-25 in the floor of the House which reveals a fiscal deficit of Rs 2,029 crore, approximately 3.83 percent of the GSDP.

The estimated total receipts amount to Rs 27,072 crore, with revenue receipts at Rs 23,525 crore and capital receipts at Rs 3,557 crore. The total estimated expenditure is also Rs 27,072 crore, with revenue expenditure at Rs 19,653 crore and capital expenditure at Rs 7,429 crore.

Presenting the budget, the Chief Minister outlined ‘Mission 10,’ aiming to build a $10 billion economy by 2028, coinciding with the 10th year of the MDA government. Under this mission, opportunities include investment promotion, urban transformation, and agriculture development, among others.

Key budget allocations include Rs 934 crore for urban sector transformation, Rs 427 crore for agriculture and horticulture, and Rs 1,970 crore for healthcare. Additionally, Rs 3,539 crore is allocated for education, including Rs 1,335 crore for grant-in-aid salaries.

Meghalaya CM said the government is working towards improving Meghalaya’s current tele density of 76%, which is below the national average. Basic Telecom penetration of 2G or 3G is at 82% and the fiberized Base Transceiver Stations rate is only 39%. 4G towers are being set up in villages not covered with internet in collaboration with BSNL and Airtel in terms High Speed Internet in the rural areas.

In terms of Housing for all eligible beneficiaries, CM Conrad said 1.6 lakh new houses are

being constructed with an allocation ₹ 1,794 crore. Continuing the momentum into 2024-25, the government is targeting universal coverage of all the remaining eligible beneficiaries under the Pradhan Mantri Awas Yojana (Grameen) program. He added that the government is allocating ₹ 423 crore for this program for 2024-25.

 

For the affordable and quality health care for all, CM said the ‘MOTHER’ program has become a beacon of hope for over 3 lakh pregnant and lactating mothers. Under the Chief Minister’s Safe Motherhood Scheme, we have the operationalized 140 transit homes and vehicles, ensuring accessible and quality care during childbirth. The two schemes together have reduced maternal mortality by 50% and infant mortality by 30%.

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