Shillong, Feb 23: Chief Minister Conrad Sangma today presented the budget for 2026-27 with a fiscal deficit of Rs 2,672 crore around 3.5 per cent of the GSDP.
He highlighted that the fiscal deficit has been maintained below the permissible limit of 3.5 per cent.
The estimated total receipts at Rs 32,000 crore, of which the revenue receipts are estimated at Rs 26,583 crore and capital receipts at Rs 5,417 crore.
On the expenditure side, total spending has been projected at Rs 32,023 crore, with revenue expenditure estimated at Rs 21,812 crore and capital outlay at Rs 10,211 crore. Capital expenditure crossed the Rs 10,000-crore mark for the first time, the Chief Minister said.
The estimated total expenditure is Rs 29,293 crore excluding repayment of loans of Rs 2,731 crore. The interest payments for 2026-27 are estimated at Rs 1,540 crore and pension payments at Rs 1,980 crore.
Along with the main budget the chief minister also presented the Climate, Youth and Gender Budgets.
The size of the climate budget for 2026-27 is Rs 5,572 crore, an increase of 2.8 per cent over 2025-26, Youth Budget stands at Rs 4,824 Crore, an increase of 45 per cent. Gender Budget stands at Rs 6,849 Crore, an increase of 10 per cent.
Sangma said Meghalaya’s GDP is projected at Rs 76,320 crore in 2026-27, a 13.1 per cent rise from 2024-25, keeping the state on course for Rs 85,000 crore by 2028 and Rs 1,35,000 crore by 2032.
He said central transfers are expected to reach Rs 21,229 crore, though the share of central taxes will decrease to Rs 9,631 crore owing to changes in the devolution formula recommended by the Sixteenth Finance Commission.
The state’s own tax revenue is projected at Rs 4,720 crore — including Rs 2,351 crore from GST — up from Rs 1,450 crore in 2017-18, while non-tax revenue to reach Rs 634 crore as scientific mining licences advance. Total expenditure is set at Rs 32,023 crore, with capital spending at Rs 10,211 crore, a seven-fold rise since 2017-18.
Sangma said Meghalaya is now the second-fastest growing state after Tamil Nadu, sustaining nearly 10 per cent real GSDP growth for three straight post-COVID years and outpacing the national average with 12 per cent nominal growth in 2025.
“I am very happy to report that our growth rate reflects steady and meaningful progress,” Sangma said, recalling his 2022 promise to make 2022-32 the “Meghalayan Decade” and triple GSDP by the state’s 60th year in 2032.
He cited Prime Minister Narendra Modi’s note praising the state’s “exemplary” post-COVID growth and “prudent” fiscal management, and said Union ministers had echoed the assessment.
Sangma linked the momentum to Vision 2032 and Meghalaya Mission 10 — ten opportunity sectors and ten inclusivity commitments — backed by a 4.4-fold rise in capital expenditure since 2017-18 and strong uptake of SASCI, externally aided projects, and CSS funds.
Highlighting Mawkdok Bridge, the new Mawkhanu stadium, New Shillong City and UNESCO push for Living Root Bridges, he said “Meghalaya may be small in size, but our aspirations are expansive and bold.”
The Chief Minister also termed it his ninth consecutive budget and “not merely a statement of receipts and expenditure” but a reflection of the government’s values and priorities.
“The ultimate goal… is to improve the wellbeing of each citizen, to put a smile on every person’s face and to ensure opportunities for every young person,” Sangma said, saying the budget was shaped by thousands of interactions through CM CONNECT public hearings and three Cabinet Retreats with officials.
He acknowledged “appreciation and expectation” from citizens, noting visible progress alongside rising demands for better roads, schools, water supply and power.
Sangma said feedback from mothers under the CM-Safe Motherhood Scheme, FOCUS and CM FARM+ farmers, PRIME entrepreneurs and traditional leaders informed allocations, alongside formal pre-budget consultations.
Sangma closed his budget presentation by defining “five thoughts” which mark the state today, calling Meghalaya stable, aspirational, collaborative, caring and sustainable.
“A Stable Meghalaya that is growing rapidly, with strong fiscal discipline… An Aspirational Meghalaya where we are building world-class infrastructure… A Collaborative Meghalaya where development is shaped through dialogue…” Sangma said, adding that policies “place every citizen at the heart” and advance prosperity while protecting natural and cultural heritage.
He concluded by quoting a Garo “Agan Me’apa”: “Walk the winding path with steadiness… to strive relentlessly to fulfill the vision,” before commending the budget to the House.
