SHILLONG, FEB 23: Chief Minister Conrad K Sangma on Monday tabled  2026-27 budget on Monday tabled a Rs 2,672 crore deficit budget for 2026-27, which is around 3.5% of the Gross State Domestic Product (GSDP).

The total receipts is 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, Sangma said in his budget speech.

Excluding borrowings of Rs 5,379 crore, the total receipts are estimated to be at Rs 26,621 crore, he said adding that the total expenditure is estimated at Rs 32,023 crore, of which the revenue expenditure is estimated at Rs 21,812 crore and capital expenditure at Rs 10,211 crore.

According to the chief minister who holds charge of the Finance department, the estimated total expenditure is Rs 29,293 crore excluding repayment of loans of Rs 2,731 crore.

He said the interest payments for 2026-27 are estimated at Rs 1,540 crore and pension payments at Rs 1,980 crore. The revenue surplus is Rs 4,771 crore and the closing balance is Rs 714 crore.

“I am, therefore, presenting the budget for 2026-27 with a fiscal deficit of Rs 2,672 crore, which is around 3.5% percent of the GSDP. I am delighted to highlight that the fiscal deficit has been maintained at the permissible limit of 3.5%” Sangma said.

Chief Minister Conrad K Sangma has also presented the climate, youth, gender and SDG budget.

“The size of the climate budget for 2026-27 is ₹5,572 Crore, an increase of 2.8% over 2025-26; Youth Budget stands at 4,824 Crore, an increase of 45%; Gender Budget stands at ₹6,849 Crore, an increase of 10%,” he informed.

Sangma said Meghalaya’s GDP is projected at ₹76,320 crore in 2026-27, a 13.1% rise from 2024-25, keeping the state on course for ₹85,000 crore by 2028 and ₹1,35,000 crore by 2032.

He said central transfers are expected to reach ₹21,229 crore, though the share of central taxes will slip to ₹9,631 crore under the Sixteenth Finance Commission’s devolution formula. 

“…as the national economy continues to expand, the overall central tax pool will grow, and our share will correspondingly strengthen,” Sangma said.

The state’s own tax revenue is projected at ₹4,720 crore — including ₹2,351 crore from GST — up from ₹1,450 crore in 2017-18, while non-tax revenue should hit ₹634 crore as mining licences advance. Total expenditure is set at ₹32,023 crore, with capital spending at ₹10,211 crore, a seven-fold rise since 2017-18.

Chief Minister said Meghalaya is now the second-fastest growing state after Tamil Nadu, sustaining nearly 10% real GSDP growth for three straight post-COVID years and outpacing the national average with 12% 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.”

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.