Shillong, march 19: The Meghalaya Chief Minister Dr Mukul Sangma who is also holding the finance department today presents the annul budget for the financial year 2014-2015 with a deficit of Rs 527 crore.
The budget which the chief minister presents today is a tax free budget; in the budget speech did not mention any new goods that will be brought under the ambit of the taxation.
The Chief minister estimated that total expenditure for the financial year 2014-2015 will be Rs. 11,893 cores and the estimated receipt for the financial year is Rs.11,820 crore. The state is expected to get as a grant from the central government for the financial year is Rs 6,527 crore and the state own revenue will be Rs.1,886 crore.
The chief minister mention that from the 13th Finance commission the government of India awarded Rs.3,924 crore but till date the GOI has released only Rs.2671 crore leaving a balance of Rs. 1,253 crore.
The state government has asked the 14th Finance Commission, to help the state government in order to complete the ongoing schemes and normalization of post. To enable the state government to do these it required a sum of Rs. 50,000 crore.
In the budget speech of the Chief Minister it appears that the government has lay stress on road connectivity. The projected amount in road sector is Rs. 428.90 crore. Education is Rs.413.60 crore. Health the projected amount is Rs.380.5 crore.(SP News)
