On the last day of the budget session of the Meghalaya Legislative Assembly, the State’s budget for the year 2021-2022 was passed with the tabling and passing of the Meghalaya Appropriation (No III) Bill, 2021 in the State Assembly on Friday.
Chief Minister Conrad K Sangma tabled the Meghalaya Appropriation (No III) Bill, 2021 after which, was unanimously passed by the House through a voice vote.
On March 10th, Chief Minister Conrad K Sangma tabled a Rs 1,570 crore deficit budget for the year 2021-2022, which is around 4.07 percent of the Gross State Domestic Product (GSDP).
The total receipts is at Rs 17,509 crore, of which the revenue receipts are estimated at Rs 15,232 crore and capital receipts at Rs 2,277 crore, Sangma said in his budget speech.
Excluding borrowings of RS 2,247 crore, the total receipts are estimated to be Rs 15,262 crore, he said adding that the total expenditure is estimated at Rs 17,603 crore, of which the revenue expenditure is estimated at Rs 13,956 and capital expenditure at Rs 3,647 crore.
According to the chief minister who holds charge of the Finance department, the estimated total expenditure is Rs 16,832 crore excluding repayment of loans of Rs 771 crore.
He said the interest payments for 2021-22 is estimated at Rs 1,047 crore and pension payments at Rs 1,303 crore.