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Meghalaya CM presented Rs 17,375 crore budget for FY 2020-21

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On March 19, 2020 Meghalaya’s Chief Minister(CM) & Finance minister Conrad Kongkal(K) Sangma presented a Rs 17,375 crore budget for the Financial Year(FY)2020-21 in the state assembly with the fiscal deficit of Rs 1,532 crore which is around 3.53 % of the Gross State Domestic Product (GSDP).Meghalaya CM presents deficit budget

Megha Health Insurance Scheme enhanced to Rs 5 lakh per family with no restriction on family size.Rs 50 crores allocated for health infrastructure development in rural areas.

Key Points:

i.Receipt It estimated revenue receipts of Rs 15,353 crore, capital receipts of Rs 2,022 crore & borrowings of Rs 1,995 crore.

ii.Expenditure It estimated Rs 17,432 crore as total expenditure including Rs 14,428 crore as revenue expenditure, Rs 3,004 crore as capital expenditure, & repayment of the loan as Rs 520 crore.

iii.Revenue It estimates Rs. 2,377crore for tax & Rs 690 for non-tax revenue collection

iv.Payments It estimates Rs 843 crore as interest payment & Rs 1,208 crore as pension payments.

v.Rs 1050 crore for education sector & Rs 724 crore for Health and Family Welfare sector which includes Rs 2.5 crore for Meghalaya’s Outcome Oriented Transformation in Heath, Education and Rural Development (MOTHER) programme announced

vi.Allocated Rs 105 crore for the National Rural Livelihood Mission as a Poverty alleviation program.

vii.The budget proposed Rs 540 crore for agriculture & the allied sectors, including Rs 241 crore from state’s resources, Rs 2,882 crore for infrastructure development & Rs 263.97 crore for Social Welfare

viii.Allocated Rs 199 crore for urban sector & Rs 10crore for the state’s flagship programme called as Promotion of Innovative and Market-Driven Enterprises (PRIME)

ix.Allocated Rs 103.83 crore for tourism sector & approved Rs 30 crore under Pilgrimage Rejuvenation and Spiritual Augmentation Drive (PRASAD) scheme.

About Meghalaya:
Capital– Shillong
Governor– Tathagata Roy