Meghalaya among fastest-growing states post-Covid: CM Sangma

SHILLONG: Meghalaya has emerged as one of the fastest-growing states in the country, recording nearly 10 per cent real Gross State Domestic Product (GSDP) growth for three consecutive years after the Covid-19 pandemic, Chief Minister Conrad K. Sangma said on Thursday while replying to the Budget discussion in the Assembly.

Citing fiscal indicators, Sangma said the state's economic size expanded by 76.5 per cent between FY21 and FY25, making Meghalaya the second fastest-growing state in terms of real GSDP growth, after Tamil Nadu and reflecting sustained economic momentum.

He underlined that the state's growth trajectory is not dependent on heavy borrowings, highlighting the government's emphasis on fiscal prudence and disciplined financial management. Borrowings accounted for only 7.8 per cent of total receipts in FY24, significantly lower than the national average of 19.4 per cent, the Chief Minister said.

Highlighting the government's capital-led growth approach, Sangma said capital expenditure has grown at a compounded annual growth rate (CAGR) of 16.5 per cent since FY14, outpacing revenue expenditure growth of 11.1 per cent and signalling a stronger focus on asset creation and long-term development.

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