Meghalaya CM presents Rs 526-cr deficit budget for FY'14

Meghalaya Chief Minister Mukul Sangma today presented a Rs 526 crore deficit Budget for the financial year 2013-14.
The fiscal deficit of Rs 526 crore is around 2.62 per cent of the Gross State Domestic Product (GSDP) and an increase of Rs 142 crore as compared to that of 2012-13.
The Chief Minister tabled a plan Budget of Rs 4,141 crore, which includes loan components of Rs 798.5 crore, centrally- aided funds of Rs 405.5 crore and Rs 116.42 crore awarded by the 13th Commission.
The actual size of the Budget would be finalised shortly in consultation with the Planning Commission, Sangma said.

The Minister, who also holds the finance portfolio, did not propose any specific measures to generate additional revenue to the state's exchequer.
He said recommendations of the task force on resource mobilisation is under examination.

The Chief Minister said the state does not propose further increase in royalty on coal in view of the recent increase of the same by the Centre.
According to the Chief Minister, the total receipts in 2012-13 is estimated to be Rs 8,609 crore excluding borrowings and other liabilities of the state government.
He said: "Plan grants from the Centre is expected to be Rs 4,761 crore, while the state's own revenue is estimated to be Rs 1,371 crore, an increase of Rs 1,302 crore and Rs 181 crore, respectively from the current year."

The government has proposed an outlay of Rs 607 crore for education department apart from Rs 433 crore for police, Rs 309 crore for PWD, Rs 250 crore for agriculture and allied sectors and Rs 179 crore for health.
Sangma said his government's proposed non-plan expenditure for the current year is pegged at Rs 3,481 crore, an increase from 9.1 per cent from last year's budget.
Meanwhile, the Chief Minister also presented a vote on account grant of Rs 2,332.36 crore as an interim relief for expenses of the state for three months period from April 1 next.