Union Finance Minister Nirmala Sitharaman today highlighted the significant increase in central financial transfers and capital investments to Meghalaya over the last decade, stating that the state has received unprecedented support through tax devolution, grants and infrastructure-focused schemes.
Addressing a press briefing during her ongoing visit to the state, Sitharaman compared the central tax devolution to Meghalaya between 2004–2014 (when the Congress Party was in power) and 2014–2024 (under the Bharatiya Janata Party). “In the 10 years from 2004 to 2014, Meghalaya received Rs 7,273 crore through tax devolution. But in the next decade from 2014 to 2024, the amount increased to Rs 48,883 crore, marking a 572 per cent jump,” she said.
She added that grants-in-aid to the state also doubled during the same period, from Rs 19,700 crore to Rs 40,452 crore.
Sitharaman emphasized the Centre’s focused push on capital expenditure following the economic stress caused by the Covid-19 pandemic. As part of this, the central government introduced the Special Assistance to States for Capital Investment (SASCI) scheme, under which interest-free loans are given to states for a 50-year term to boost asset creation.
“Since 2020, Rs 5.3 lakh crore has been sanctioned to states under SASCI. Out of this, Rs 48,804 crore was allocated to the North Eastern region and Meghalaya alone received Rs 5,471 crore,” she stated.
The Finance Minister listed tangible outcomes from SASCI across states, including Meghalaya, such as the digitisation of land records, construction of working women’s hostels, scrapping of over 25,000 old government vehicles and improved infrastructure for industrial zones.
She also touched on the Centre’s support in facilitating externally aided projects (EAPs) – of which the Meghalaya government is heavily reliant on – from agencies like the World Bank and Asian Development Bank, which she said are vital for bringing in technical expertise and long-term infrastructure solutions. “These projects have transformed mobility and business access in states like Assam and Maharashtra and are being encouraged in Meghalaya too.”
In addition, Sitharaman spoke about the PM Internship Program aimed at enhancing youth employability. “In the pilot round, 1,530 internships were offered across the Northeast. In the second round, 3,660 internships have been made available, with 114 opportunities in Meghalaya alone,” she informed.
Today, Sitharaman inaugurated 72 digital libraries remotely while at a function for base programmes, including the redevelopment of Umiam Lake (Rs 99.99 crore), MICE (Meetings, Incentives, Conferences and Exhibitions) infrastructure (Rs 99.99 crore), Mawkhanu football stadium (Rs 752 crore), etc.
Elaborating on the centre’s assistance to small businesses and small entrepreneurs she said, “Schemes of the central government are not only benefitting large industries but small businesses too so that no one feels neglected or feels that there is no support mechanism to carry forward their businesses carrying out the large principle of sab ka sath, sab ka vikas with benefits reaching common people.”
She added that the assistance or loan given to these small businesses by banks without pledging an asset as security primarily aims at providing financial support, skill development and market access.
Elaborating on the performance of the government since 2018 in various centrally sponsored schemes the Chief Minister said, “After working very aggressively in a systematic and strategic manner we almost touched a $6 billion economy and our economic growth rate is almost touching 15 per cent, which is higher when compared to the national average.”
Sangma also informed that in all major centrally sponsored schemes the government has been able to capitalise on the funds that have been available by the central government taking the state forward towards the goal set for the state of becoming a $10 billion economy.
