Shillong, February 12, 2025 – Chief Minister Sangma chaired Meghalaya’s first-ever Pre-Budget Consultation for FY 2025-26 with key stakeholders in Shillong. The government also presented the state’s Gross State Domestic Product (GSDP) trajectory from 2011 to 2024, highlighting an average growth rate of 16.2% between 2020-21 and 2023-24.
Addressing fiscal concerns, the Chief Minister spoke on the state’s fiscal deficit and growth projections, stressing the importance of public involvement. “This budget is for the farmers, entrepreneurs, and all stakeholders. We may not include all the suggestions immediately, but will include as we move forward. The suggestion from the public could be a game-changer,” he said.
Discussing Meghalaya’s economic trajectory, he credited improved fund utilization for financial growth. “Funds are available in Delhi, but our ability to absorb and implement them efficiently is the key, while we engage with the Government of India to pitch for funding our welfare and development interventions.” He noted that tax collection has doubled in six years from ₹1,450 crore to ₹3,217 crore, while excise revenue surged from ₹199 crore in 2018 to ₹458 crore last fiscal, with expectations to cross ₹500 crore this year. He attributed this growth to policy reforms and technology-driven monitoring systems that have curbed revenue leakages.
Highlighting urban challenges, he emphasized the urgent need for planned expansion to ease congestion in Shillong. “Decongesting Shillong requires planned urban expansion and the creation of knowledge cities as growth centers.” He pointed out a 52% increase in investment in the Urban Affairs sector as part of this initiative.
Responding to public queries on Facebook LIVE, the Chief Minister reiterated his commitment to governance reform. “CM Connect is an intervention that aims to foster transparency and accountability in the system. I welcome criticism because it pushes us to improve governance and service delivery.”
He also addressed financial setbacks, revealing ₹391 crore losses in Public Sector Undertakings (PSUs), with the power sector being the major contributor, though recent improvements have been noted. He highlighted the state’s strategic push for scientific coal mining, the “1971 CM Connect” program, and the CM Elevate initiative as key drivers of economic transformation.
The government is actively evaluating existing schemes and modifying their guidelines to ensure more effective implementation. Dr. Vijay Kumar D, Commissioner and Secretary, Finance Department, also presented key financial insights during the consultation. Meghalaya’s first Pre-Budget Consultation marks a shift in governance, reinforcing fiscal responsibility, public participation, and long-term economic and educational growth.