Shillong Jun 4: Meghalaya has sought Rs 82,815 crore for five years from the 15^th Finance Commission.

This proposal was made by the state during a meeting with officials of the 15th Finance Commission led Chairman, N.K. Singh.

The state projected Rs 62,870 crore for pre-Devolution Revenue Gap, Rs 15,609 crore for grants-in-aid for intervention in critical sectors, Rs 300 crore for grants-in-aid for State Public Sector Undertakings (PSUs), Rs 2,469 for grants-in-aid for upgradation of standard administration Grants-in-aid for and Rs 1,567 crore for local bodies (ADCs, ULBs, VEC).

The 15th Finance Commission team visited Meghalaya and held meetings with Chief Minister, Conrad K Sangma and his council of ministers and officials, representatives of the Autonomous District Councils (ADCs) , urban local bodies (ULBs) like Municipal Boards, and representatives of various political parties besides trade and industry bodies of Meghalaya.

Singh said that the economy of Meghalaya has to grow well above the double digit number, it has achieved last year at 10.5 percent growth of the state’s GDP.

“The state needs to grow as significantly above this to be able to catch up on loss time and to improve its ratings not only in term of the human development index, and many parameters on sustainability development goals. The state should be able to bring about growth multipliers so that its revenue stream can also be enhanced significantly so that it becomes increasingly more self-reliance than being dependent on such high and sustainable percentage of Central transfers for the economy of Meghalaya,” Singh observed.

Admitting that there are huge challenges but equally enormous opportunities, Singh said, the leadership of Meghalaya remained focus and committed to address some of the endemic weaknesses of the state’s economy, and the strategies they outlined before the Finance Commission appeared to be prima facie persuasive, and eminently credible.

He said that Meghalaya has a feeling that following the loss of revenue on account of the ban on coal and following uncertainties on the GST, there were some important revenue issues which should deserve the attention of the Commission.

“Meghalaya has a feeling that following the loss of revenue on account of the ban on coal and following the uncertainties on the GST, there are some important revenue issues which should deserve the attention of the 15th FC. They have according sought a much higher devolution by way of enhancing the revenue deficit grant that was made available to them in the last FC.

He said that Meghalaya also has huge challenges but there are also equally enormous opportunities.

“The leadership of Meghalaya remained focus and committed to address some of the endemic weaknesses of the state’s economy, and the strategies they outlined before the Finance Commission appeared to be prima facie persuasive, and eminently credible. They can count on the Finance Commission to take a sympathetic view before we begin to finalise and affirm our recommendations towards the end of the year. It will be our endeavor to see that the government of Meghalaya is supported in the multiple endeavors to be able to have really a great GDP growth which measure up to the expectations and can improve the life quality of the people of Meghalaya,” Singh said.

He said that Meghalaya also has the potentiality in tourism, and organic farming.

“The great comparative advantage which Meghalaya has in term of being a rich depository for agro and agro-based activities, several important submissions which the government has put forth particularly on some specific agro crop in our view are very worthwhile they will help in harnessing Meghalaya’s potential,” he said.