Rs 526 crore deficit Meghalaya budget

SHILLONG, MARCH 22: Meghalaya Chief minister Mukul Sangma presented a Rs 526 crore deficit budget for 2013-14 fiscal in the Assembly on Friday that contains no specific proposal to generate additional revenue to the state coffer.

The fiscal deficit of Rs 526 crore is around 2.62 per cent of the Gross State Domestic Product (GSDP), which is an increase of Rs 142 crore from 2012-13.

The chief minister tabled a plan budget of Rs 4141 crore, which includes loan components of Rs 798.5 crore, centrally-aided funds of Rs 405.5 crore and Rs 116.42 crore, which was awarded by the 13th Commission.

The actual size of budget will be finalized shortly in consultation with the Planning Commission, said Sangma, who holds the finance portfolio.

The chief minister said the recommendations of the task force on resource mobilization was under examination, which probably explains why he did not propose any specific measures to generate additional revenue to the state’s exchequer.

Sangma said the state does not propose to increase the royalty on coal as the Centre had already increased the same recently.

The total receipts in 2012-13, he said, is estimated to be Rs 8609 crore excluding borrowings and other liabilities of the state government. “Plan grants from the Centre is expected to be Rs 4761 crore, while the state’s own revenue is estimated to be Rs 1371 crore, an increase of Rs 1302 crore and Rs 181 crore respectively from the current year,” he said.

The government has proposed an outlay of Rs 607 crore for the education department, Rs 433 crore for police, Rs 309 crore for PWD, Rs 250 crore for agriculture and allied sectors and Rs 179 crore for health.

Mukul said his government’s proposed non-plan expenditure for the current fiscal has been pegged at Rs 3481 crore, a 9.1 per cent increase from last year’s budget.
The chief minister also presented a vote on account grant of Rs 2332.36 crore as an interim relief for expenses of the state for the three-month period from April 1 next. (By Our Reporter)