Conrad Sangma tables Rs 1570 crore deficit Meghalaya budget for fiscal 2021-22
The chief minister, who also holds the finance portfolio, told the assembly that the total receipts have been estimated at Rs 15,262 crore, which is less than the estimated expenditure of Rs 16,832 crore.
Presenting the budget, Sangma tweeted: “Presented the #MeghalayaBudget 2021-22 with a fiscal deficit of Rs 1,570 Cr, which is around 4.07% of the GSDP. #Meghalaya’s share in the divisible pool of taxes has increased from 0.645% in the 14th Finance Commission to 0.767% in the @15thFinCom for 2021-26 @nsitharaman”
Claiming that the state government has been taking initiatives to increase its own tax and non-tax revenue, Sangma said he has estimated Rs 2,579 crore tax and Rs 694 crore non-tax revenue for 2021-2022.
Sangma said there was a good non-tax revenue prospects for 2021-2022 from the e-auction of mined coal by Coal India Limited (CIL) which would begin soon.
The National Green Tribunal (NGT) committee has approved the auction of 2 lakh metric tons, out of a total of 32 lakh metric tons, of extracted coal. The full auction of the extracted coal could fetch a revenue of about Rs 350 crore.