Chief Minister Conrad Sangma today informed that the cumulative funding from externally aided projects increased from Rs 2,300 crore to over Rs 10,600 crore from 2018 to 2023.
“As of today, we are implementing several projects in collaboration with agencies like the World Bank, the Asian Development Bank, the Japan International Cooperation Agency, the New Development Bank and the International Fund for Agriculture Development. This again is an affirmation towards our commitment and execution capabilities from global institutions,” he said.
The chief minister said that 90 per cent of these loans are repaid by the Union Government on behalf of the State government.
He also said that the State government expenditure has more than doubled from Rs 9,528 crore during 2017-18 to Rs 20,729 crore in 2022-23.
According to him, this demonstrates improved governance and implementation capability. He also said that this reflects the confidence of the Union government and other institutions in the capabilities of the State government.
Sangma also said that the government would bring policies and programmes to double the GSDP to around Rs 80,000 crore by 2027-28 and make Meghalaya a 10 billion-dollar economy.
“The effort will be to increase both government expenditure and private investments through prioritising trade, tourism, high-value agriculture and building a knowledge economy,” he said.
