Meghalaya State Budget 2023-24 Analysis
Revised EstimateTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Meghalaya FY 2023-24
Meghalaya State Budget 2023-24 Budget at a Glance
Total Receipts
Rs 22,188 crore
+58.5%
Total Expenditure
Rs 25,052 crore
+53.7%
Fiscal Deficit
3.9%
Rs 1,849 crore
Capital Expenditure
Rs 5,720 crore
+128.8%
Tax Revenue
Rs 3,262 crore
+5.2%
Interest Payments
Rs 1,199 crore
5% of expenditure
Meghalaya Revenue Receipts 2023-24
Own tax revenue vs non-tax revenue breakdown
Meghalaya Expenditure Breakdown 2023-24
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Top 10 Departments by Allocation
Fiscal Deficit as % of GSDP โ Meghalaya 2023-24
The fiscal deficit for Meghalaya in 2023-24 is 3.9% of GSDP (Rs 1,849 crore), reflecting the state's borrowing needs to fund development programmes.
States are expected to maintain fiscal deficit within 3% of GSDP as per the FRBM Act. Meghalaya's deficit is above this threshold, driven by higher capital spending needs.
Interest payments at Rs 1,199 crore consume 4.8% of total expenditure.
Meghalaya State Budget 2023-24 โ Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 25,052 crore | 100% |
| 1. Revenue Receipts | Rs 22,188 crore | 88.6% |
| a. Own Tax Revenue | Rs 3,262 crore | 13.0% |
| b. Non-Tax Revenue | Rs 758 crore | 3.0% |
| B. Total Expenditure | Rs 25,052 crore | 100% |
| 1. Revenue Expenditure | Rs 18,294 crore | 73.0% |
| 2. Capital Expenditure | Rs 5,720 crore | 22.8% |
| of which: Interest Payments | Rs 1,199 crore | 4.8% |
| C. Fiscal Deficit | Rs 1,849 crore | 3.9% of GSDP |
Source: Meghalaya State Budget Documents via PRS India. All figures in Indian Rupees.
Meghalaya Department-wise Expenditure 2023-24
Top departments by allocation in Meghalaya for 2023-24
| Department โ | Revenue โ | Capital โ | Total โ | Share |
|---|---|---|---|---|
1. Education | Rs 3,200 crore | Rs 300 crore | Rs 3,500 crore | 14.0% |
2. Rural Development | Rs 1,800 crore | Rs 480 crore | Rs 2,280 crore | 9.1% |
3. Public Works & Roads | Rs 800 crore | Rs 1,300 crore | Rs 2,100 crore | 8.4% |
4. Health & Family Welfare | Rs 1,350 crore | Rs 380 crore | Rs 1,730 crore | 6.9% |
5. Police & Home | Rs 1,150 crore | Rs 150 crore | Rs 1,300 crore | 5.2% |
6. Agriculture & Allied | Rs 920 crore | Rs 260 crore | Rs 1,180 crore | 4.7% |
7. Water Supply & Sanitation | Rs 360 crore | Rs 580 crore | Rs 940 crore | 3.8% |
8. Social Welfare | Rs 830 crore | Rs 110 crore | Rs 940 crore | 3.8% |
9. Energy | Rs 620 crore | Rs 300 crore | Rs 920 crore | 3.7% |
10. Urban Development | Rs 370 crore | Rs 290 crore | Rs 660 crore | 2.6% |
Meghalaya Budget 2023-24 Analysis & Highlights
Key Highlights
- Revised expenditure at Rs 25,052 crore, slightly above original estimates
- Revenue receipts at Rs 22,188 crore with tax collections at Rs 3,262 crore
- Revenue surplus of Rs 3,894 crore โ consistently strong current account
- Fiscal deficit at 3.9% of GSDP (Rs 1,849 crore), within manageable range
- Capital expenditure at Rs 5,720 crore maintained at high level
- Coal mining sector continued to face NGT regulatory restrictions
- Tourism footfall grew significantly, boosting hospitality sector
- Outstanding debt at Rs 13,900 crore, debt-to-GSDP at 29.3%
- Interest payments at Rs 1,199 crore โ negligible fiscal pressure
- Cement industry contributed stable royalty and employment income
- Agricultural diversification toward turmeric, ginger, and pineapple
- GSDP at Rs 47,381 crore with services sector expanding
Compare Meghalaya Budget โ Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2019-20 | 2020-21 | 2021-22 | 2022-23 | 2023-24 |
|---|---|---|---|---|---|
| Total Expenditure | โ | โ | โ | Rs 16,300 crore | Rs 25,052 crore |
| Revenue Receipts | โ | โ | โ | Rs 14,000 crore | Rs 22,188 crore |
| Capital Expenditure | โ | โ | โ | Rs 2,500 crore | Rs 5,720 crore |
| Fiscal Deficit (% GSDP) | โ | โ | โ | 5.1% | 3.9% |
| Own Tax Revenue | โ | โ | โ | Rs 3,100 crore | Rs 3,262 crore |
Columns showing "โ" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Meghalaya State Budget 2023-24
The Meghalaya state budget is the annual financial plan presented in the state legislature. It covers all revenue receipts, expenditure allocations across departments, and fiscal deficit management. State budgets are critical because states handle key development areas including education, health, agriculture, and infrastructure.
Meghalaya Revenue Sources
State revenue comes from three sources: own tax revenue (state GST, stamp duty, excise, vehicle tax), non-tax revenue (fees, fines, interest), and transfers from the Centre (share of central taxes as per Finance Commission recommendations, plus grants-in-aid for specific schemes).
Fiscal Deficit and State Borrowing
Under the FRBM framework, states target a fiscal deficit of 3% of GSDP. States can borrow from the market via State Development Loans (SDLs), and the central government also provides loans. The RBI manages the borrowing calendar for states to ensure orderly market conditions.
Explore More
Compare Meghalaya with other states
Side-by-side comparison of fiscal metrics across Indian states