The Chief Minister of Meghalaya, Mr. Conrad K. Sangma, presented the Budget for the state for the financial year 2025-26 on March 5, 2025.
Budget Highlights
- The Gross State Domestic Product (GSDP) of Meghalaya for 2025-26 (at current prices) is projected to be Rs 66,645 crore, amounting to growth of 13% over 2024-25.
- Expenditure (excluding debt repayment) in 2025-26 is estimated to be Rs 27,598 crore, an increase of 8% from the revised estimates of 2024-25. In addition, debt of Rs 2,405 crore will be repaid by the state.
- Receipts (excluding borrowings) for 2025-26 are estimated to be Rs 25,627 crore, an increase of 7% as compared to the revised estimate of 2024-25.
- Revenue surplus in 2025-26 is estimated to be 7.6% of GSDP (Rs 5,035 crore), as compared to a revenue surplus of 7.4% of GSDP (Rs 4,377 crore) at the revised estimate stage in 2024-25.
- Fiscal deficit for 2025-26 is targeted at 3% of GSDP (Rs 1,970 crore). In 2024-25, as per the revised estimates, fiscal deficit is expected to be 2.6% of GSDP, lower than the budgeted 3.8% of GSDP.
Policy Highlights
- Skills Development: A comprehensive skilling initiative called the Chief Minister’s Skills Mission will be implemented from 2025-26. This mission aims to skill one lakh youth for the local economy, 10,000 youth for the national economy, and 5,000 youth for the global economy over the next three years.
- Scholarship Scheme: A new flagship program, the Chief Minister’s Scholarship Scheme, will be launched, benefiting 80,000 youth. A grant of Rs 6,000 per annum will be provided to all post matriculate students to help cover educational expenses.
- New tourism project: Government will initiate several new tourism projects in 2025-26, with a total investment of Rs 600 crore, including a Rain and Bamboo Interpretation Centre, Wari Chora Cultural Centre, and various luxury resorts and hospitality centres across multiple districts.