Shillong: Meghalaya Chief Minister Conrad K. Sangma, on Monday, tabled a Rs 32,023-crore budget for the 2026-27 financial year, projecting a fiscal deficit of around 3.5 per cent of the gross state domestic product.
The budget estimates revenue receipts of Rs 26,583 crore and capital receipts of Rs 5,417 crore. Excluding borrowings of Rs 5,379 crore, total receipts are pegged at Rs 26,621 crore, Sangma told the assembly, presenting his ninth consecutive Budget.
Sangma, who holds the Finance portfolio, said that capital expenditure has risen from Rs. 1,435 crore in 2017–18 to over Rs. 6,300 crore in recent years, with large infrastructure, agriculture, tourism, urban development and connectivity projects positioned as key growth drivers.
Sangma said agriculture, tourism, sports, the creative economy, entrepreneurship and private investment have been identified as the main economic engines under “Mission 10”, supported by targeted schemes for farmers, youth, entrepreneurs and community institutions.
Tourism, he noted, has crossed 16 lakh annual visitors, while Meghalaya is preparing to host the 39th National Games in 2027, expected to generate large-scale economic and employment activity.
On state finances, the government projected total expenditure of Rs. 32,023 crore for 2026–27, including Rs. 10,211 crore in capital spending.
The fiscal deficit has been pegged at 3.5 per cent of GSDP, within permissible limits, with a revenue surplus of Rs. 4,771 crore, reflecting what the chief minister described as a balance between growth and fiscal discipline.
Major allocations were announced for health, education, nutrition, housing, digital connectivity, climate resilience, urban transformation and infrastructure.
Sangma highlighted reductions in maternal and infant mortality, reforms in the power sector, expansion of water supply projects, improvements in road and air connectivity, and the development of New Shillong City as part of long-term structural transformation.
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Alongside the main Budget, separate Climate, Youth, Gender and SDG Budgets were tabled, reflecting the government’s integrated development approach.
The Chief Minister also outlined a high-growth, investment-driven roadmap anchored in Vision 2032 and the flagship “Meghalaya Mission 10”, with a strong focus on economic expansion, infrastructure development and inclusive growth.
He stressed that Meghalaya has emerged as the second-fastest growing state in India after Tamil Nadu, sustaining nearly 10 per cent real GSDP growth for three consecutive post-Covid years.
Sangma attributed the growth momentum to sharp increases in public investment, disciplined fiscal management and strategic use of central and externally aided funding.
He said the state’s GDP is projected at Rs. 76,320 crore for 2026–27, with targets of Rs. 85,000 crore by 2028 and Rs. 1.35 lakh crore by 2032, aligning with the government’s commitment to triple the state’s economy during the “Meghalayan Decade” (2022–2032).
Concluding his address, Sangma described Meghalaya’s development vision as “stable, aspirational, collaborative, caring and sustainable,” stating that the next phase of governance will focus on consolidating growth, accelerating economic momentum and ensuring that development benefits reach every citizen and every region of the state.
