Monday, April 15, 2024

Conrad presents Rs 2029 crore deficit budget for 2024-25


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Shillong, Feb 21: Meghalaya Chief Minister Conrad K Sangma on Wednesday presented the budget for 2024-25 with a fiscal deficit of Rs 2,029 crore which is around 3.83 percent of the GSDP.

The estimated total receipts at Rs 27,072 crore of which the revenue receipts are estimated at Rs 23,525 crore and capital receipts at Rs 3,557 crore. Excluding borrowings of Rs 3,527 crore, the total receipts are estimated to be Rs 23,545 crore.

On the expenditure side, the total estimated expenditure is at Rs 27,072 crore of which the revenue expenditure is estimated at Rs 19,653 crore and capital expenditure at Rs 7,429 crore. Excluding payment of loans of Rs 1,498 crore, the estimated total expenditure is Rs 25,574 crore.

Interest payments for 2024-25 are estimated at Rs 1,236 crore and pension payments at Rs 1,865 crore.

Presenting the budget, the Chief Minister said that he would like all the members of the House and every citizen to remember this budget as ‘Mission 10’- an action plan for building a 10 billion US dollar economy through leveraging 10 opportunities and providing 10 guaranteed.

He said the accomplishment of ‘Mission 10’- in 2028 will coincide with 10 years of the MDA. Government.

It may be mentioned that in 2023-24 the chief minister had presented a deficit budget of 1,592 crore which was around 3.42 per cent of the GSPDP.

Under the Mission-10, the ten opportunities are investment promotion and private sector development, regional connectivity in border trade, urban transformation, Meghalaya as a tech hub, more than doubling the farmers in one, economic empowerment and engagement of women, engaging and employing youth, countries best sustainable eco-tourism destination, climate resilient green economy and power generation.

The ten guarantees of Mission 10 are improved physical connectivity and seamless mobility, piped drinking water to all, high speed internet connectivity, housing for all eligible beneficiaries, reliable and quality power supply, affordable and quality healthcare for all, joyful and quality learnings at all levels, easing service delivery and grievance redressal, caring and empowering state and community infrastructure for engagement and wellbeing.

Some of the key features of the budget 2024-25 are:

– Investment and promotion and private sector development- Rs 20 crores

– Regional connectivity and border trade- Rs 25 crores

– Urban transformation- Rs 934 crore for Urban sector and Rs 764 crores for state schemes

– Meghalaya as a tech hub- Rs 149 crore

– Agriculture and horticulture- Rs 427 crores and increase of 16 percent since last years allocation

– Overall allocation for primary sector- Rs 1670 crore

– Economic empowerment and engagement of women- 5,271 crore

– Engaging and employing youth-
Sports and youth sector- Rs 246 crore, an increase of 15 percent. Total youth budget- Rs 2853 crore

– Climate resilient green economy- Rs 4501 crore

– Power generation- Rs 1558 crores

– Healthcare- 1970 crore

– Road and building sector- Rs 2709 crores

– Piped drinking water to all- Rs 905 crores

– Housing for all eligible beneficiaries- Rs 433 crores

– Education- Rs 3,539 crores including Rs 1,335 crores aa grant-in-aid salaries..

– Community infrastructure- Rs 40 crore.


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