By Roy Kupar Synrem
Bah Benjamin Lyngdoh’s recent article “Government Debt – What Works and What Doesn’t” deserves recognition for bringing into the public domain a subject that is too often discussed only within the closed circles of government files and budget documents. At a time when fiscal responsibility is becoming increasingly critical for states across the country, raising questions about Meghalaya’s debt trajectory is both timely and necessary.
Public debt, by itself, is not inherently negative. Governments around the world borrow to finance infrastructure, stimulate economic activity, and address developmental needs. When used wisely, borrowing can accelerate growth and improve public welfare. However, when borrowing becomes excessive, poorly managed or directed towards unproductive expenditure, it can slowly transform into a long-term burden that limits the State’s ability to invest in its future. This is precisely why the issue deserves far more attention than it currently receives.
Lyngdoh’s article performs an important service by simplifying a complex financial subject and placing it before the public. Fiscal deficit, borrowing limits, debt servicing obligations and revenue constraints may appear technical, but they ultimately shape the everyday realities of governance. The quality of roads, schools, healthcare facilities, employment generation, and social welfare programmes all depend on how effectively the State manages its finances.
Yet despite the seriousness of the matter, public discussion on Meghalaya’s financial condition remains surprisingly muted.
The State’s debt levels, its growing expenditure commitments, and the sustainability of its fiscal policies should be matters of open debate and informed scrutiny. Unfortunately, these issues often remain overshadowed by short-term political narratives, leaving little room for serious economic discussion.
At this critical juncture, economists, financial experts, chartered accountants, policy researchers, and academic institutions must step forward and engage with the issue openly and responsibly. Meghalaya is home to capable professionals and scholars who possess the knowledge to analyse the State’s financial trajectory with clarity and independence. Their voices are essential if the public is to gain a realistic understanding of where the State stands today and where it may be headed tomorrow.
Important questions demand clear answers. Is the current pace of borrowing sustainable for a relatively small state economy? Are borrowed funds being channelled into productive sectors that generate long-term returns? Is the State strengthening its revenue base sufficiently to meet future debt obligations? And most importantly, what fiscal reforms are necessary to ensure that development today does not become a financial burden for future generations?
These are not questions that should be left solely to political debate. They require rigorous analysis, credible data, and informed opinion.
Constructive scrutiny of public finances should never be mistaken for opposition or negativity. On the contrary, healthy democratic systems thrive on transparency and informed public discourse. Governments benefit when independent experts offer insights and recommendations that help strengthen fiscal governance and long-term planning.
Meghalaya stands at an important economic juncture. As development aspirations grow and public expenditure expands, financial discipline and responsible borrowing will become increasingly crucial. Ignoring or downplaying the debt question today could create deeper challenges in the years ahead.
Bah Benjamin Lyngdoh’s article has therefore performed a valuable role—it has initiated a conversation that the State can no longer afford to ignore. But one article alone cannot carry this discussion forward.
It is now time for economists, financial analysts, academics and policy thinkers of the State to speak up, analyse the facts and contribute meaningfully to the debate. The people of Meghalaya deserve a transparent and honest discussion about the State’s financial future.
Silence on such a critical issue is no longer an option.
(The writer is an Advocate and President of the Hynñiewtrep Youths’ Council. He can be reached at royk.synrem@gmail.com)
