Meghalaya CM presents Rs 2,672 crore deficit budget for 2026-27

CORRESPONDENT

SHILLONG: Meghalaya Chief Minister Conrad Sangma on Monday presented a deficit budget of Rs 2,672 crore for the financial year 2026-27, pegging the fiscal deficit at 3.5% of the Gross State Domestic Product (GSDP) and asserting that the government has kept the borrowing within the permissible limit.

Tabling the budget in the Assembly, the chief minister laid out an expansive fiscal roadmap with total receipts estimated at Rs 32,000 crore and total expenditure projected at Rs 32,023 crore, underlining the state's calibrated push towards capital spending while maintaining fiscal discipline.

"For 2026-27, I have estimated the total receipts at Rs 32,000 crore, of which the revenue receipts are estimated at Rs 26,583 crore and capital receipts at Rs 5,417 crore. Excluding borrowings of Rs 5,379 crore, the total receipts are estimated to be Rs 26,621 crore," Sangma said.

On the spending front, the government has projected a total expenditure of Rs 32,023 crore, reflecting a strong thrust on infrastructure and asset creation. "On the expenditure side, I have estimated the total expenditure at Rs 32,023 crore, of which the revenue expenditure is estimated at Rs 21,812 crore and Capital expenditure at Rs 10,211 crore. Excluding repayment of loans of Rs 2,731 crore, the estimated total expenditure is Rs 29,293 crore," he stated.

The budget estimates interest payments at Rs 1,540 crore and pension payments at Rs 1,980 crore for 2026-27, signalling the mounting committed liabilities even as the state expands developmental outlays.  "Interest payments for 2026-27 are estimated at Rs 1,540 crore and pension payments at Rs 1,980 crore. The revenue surplus is Rs 4,771 crore and the closing balance is Rs 714 crore," the chief minister said.

Also Read: Meghalaya Faces Rs 200 Crore Loss from Bangladesh Border Issues