Guwahati: Chief Minister Conrad K. Sangma on Monday presented a deficit Budget of Rs 2,672 crore for the current fiscal year, amounting to around 3.5% of the Gross State Domestic Product (GSDP).

Sangma, who also holds the Finance portfolio, said total receipts for the year are estimated at Rs 26,621 crore, while total expenditure is projected at Rs 29,293 crore, resulting in the deficit.

Presenting the estimates for 2026–27, he said total receipts are pegged at Rs 32,000 crore, comprising Rs 26,583 crore in revenue receipts and Rs 5,417 crore in capital receipts. Excluding borrowings of Rs 5,379 crore, total receipts are estimated at Rs 26,621 crore.

On the expenditure side, total outlay for 2026–27 is projected at Rs 32,023 crore, including revenue expenditure of Rs 21,812 crore and capital expenditure of Rs 10,211 crore. After excluding loan repayments of Rs 2,731 crore, effective expenditure is estimated at Rs 29,293 crore.

Interest payments for 2026–27 are projected at Rs 1,540 crore, while pension payments are estimated at Rs 1,980 crore. The revenue surplus stands at Rs 4,771 crore, with a closing balance of Rs 714 crore, the Chief Minister said.

Highlighting a key milestone, Sangma noted that capital expenditure has, for the first time, crossed Rs 10,000 crore. The projected capital outlay of Rs 10,211 crore for 2026–27 marks a seven-fold increase from Rs 1,435 crore in 2017–18.

He said Meghalaya is among the top-performing states under SASCI, an interest-free grant-like facility, with estimated receipts of Rs 4,500 crore in 2026–27 — a 67% increase. The funds will be utilised for ongoing and new capital projects across sectors.

The state has also set a target of securing new Externally Aided Projects (EAPs) worth Rs 15,000 crore in sectors such as roads, power, healthcare, urban infrastructure and human development — among the highest investment proposals in the Northeast. Sangma noted that 90% of the repayment burden for these projects is borne by the Union government.

Releases under Centrally Sponsored Schemes have more than doubled from Rs 2,965 crore in 2017–18 to an estimated Rs 6,833 crore in 2026–27.

The Chief Minister also presented dedicated climate, youth, gender and Sustainable Development Goals (SDG) budgets. The climate budget for 2026–27 is pegged at Rs 5,572 crore, reflecting a 2.8% increase over the previous year. The youth budget stands at Rs 4,824 crore, up 45%, while the gender budget has been increased by 10% to Rs 6,849 crore.

Sangma asserted that Meghalaya is now the second fastest-growing state in the country and the only state to have sustained nearly 10% real GSDP growth for three consecutive post-COVID years.

Sector-wise allocations for 2026–27 include Rs 2,472 crore for health, Rs 3,347 crore for education, Rs 664 crore for agriculture, Rs 1,540 crore for urban affairs, and Rs 376 crore for tourism, among other sectors.